Czech National Bank Has $8.78 Million Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Czech National Bank increased its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 6.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 109,291 shares of the semiconductor company’s stock after acquiring an additional 6,315 shares during the quarter. Czech National Bank’s holdings in Microchip Technology were worth $8,775,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ossiam increased its position in Microchip Technology by 13.3% during the fourth quarter. Ossiam now owns 9,359 shares of the semiconductor company’s stock worth $844,000 after acquiring an additional 1,100 shares during the period. BOKF NA lifted its stake in shares of Microchip Technology by 14.4% in the fourth quarter. BOKF NA now owns 84,819 shares of the semiconductor company’s stock valued at $7,649,000 after buying an additional 10,678 shares during the period. Ethic Inc. grew its position in Microchip Technology by 28.2% during the fourth quarter. Ethic Inc. now owns 66,655 shares of the semiconductor company’s stock worth $6,011,000 after buying an additional 14,666 shares in the last quarter. First Long Island Investors LLC increased its stake in Microchip Technology by 157.1% during the fourth quarter. First Long Island Investors LLC now owns 324,377 shares of the semiconductor company’s stock valued at $29,252,000 after acquiring an additional 198,206 shares during the period. Finally, Orleans Capital Management Corp LA raised its holdings in Microchip Technology by 3.3% in the 4th quarter. Orleans Capital Management Corp LA now owns 23,017 shares of the semiconductor company’s stock valued at $2,076,000 after acquiring an additional 730 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

MCHP has been the topic of several recent research reports. Needham & Company LLC decreased their price objective on Microchip Technology from $100.00 to $96.00 and set a “buy” rating on the stock in a report on Monday, August 5th. StockNews.com lowered shares of Microchip Technology from a “hold” rating to a “sell” rating in a report on Tuesday, September 24th. B. Riley reduced their price objective on shares of Microchip Technology from $110.00 to $103.00 and set a “buy” rating for the company in a report on Friday, August 2nd. TD Cowen lowered their target price on shares of Microchip Technology from $90.00 to $80.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Finally, Truist Financial cut shares of Microchip Technology from a “buy” rating to a “hold” rating and cut their price target for the stock from $89.00 to $80.00 in a research note on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $99.47.

Microchip Technology Price Performance

Shares of MCHP stock opened at $78.19 on Thursday. Microchip Technology Incorporated has a 1 year low of $68.75 and a 1 year high of $100.57. The company has a current ratio of 1.94, a quick ratio of 1.08 and a debt-to-equity ratio of 0.96. The firm’s 50 day moving average is $78.39 and its 200-day moving average is $86.78. The firm has a market capitalization of $41.95 billion, a price-to-earnings ratio of 22.28 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. Microchip Technology had a return on equity of 28.33% and a net margin of 20.80%. The business’s quarterly revenue was down 45.8% compared to the same quarter last year. During the same period last year, the company earned $1.56 EPS. Sell-side analysts forecast that Microchip Technology Incorporated will post 1.74 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were issued a dividend of $0.454 per share. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Thursday, August 22nd. Microchip Technology’s payout ratio is currently 52.16%.

Insider Activity

In related news, CFO James Eric Bjornholt sold 2,154 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $81.50, for a total transaction of $175,551.00. Following the completion of the sale, the chief financial officer now directly owns 33,257 shares of the company’s stock, valued at $2,710,445.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.07% of the company’s stock.

Microchip Technology Profile

Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.