Banque Cantonale Vaudoise Sells 12,233 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Banque Cantonale Vaudoise decreased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 83.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,485 shares of the semiconductor company’s stock after selling 12,233 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Microchip Technology were worth $223,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MCHP. BKM Wealth Management LLC bought a new position in shares of Microchip Technology in the fourth quarter worth about $27,000. Rakuten Securities Inc. bought a new position in shares of Microchip Technology in the fourth quarter worth about $27,000. Rise Advisors LLC bought a new position in shares of Microchip Technology in the first quarter worth about $28,000. Fortitude Family Office LLC bought a new position in shares of Microchip Technology in the fourth quarter worth about $29,000. Finally, Pineridge Advisors LLC bought a new position in shares of Microchip Technology in the fourth quarter worth about $33,000. Institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MCHP shares. Evercore ISI began coverage on shares of Microchip Technology in a report on Tuesday, April 16th. They issued an “outperform” rating and a $106.00 target price for the company. Stifel Nicolaus raised their price objective on shares of Microchip Technology from $98.00 to $102.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Truist Financial raised their price objective on shares of Microchip Technology from $93.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. UBS Group raised their price objective on shares of Microchip Technology from $95.00 to $103.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Finally, Susquehanna raised their price objective on shares of Microchip Technology from $100.00 to $105.00 and gave the company a “positive” rating in a report on Tuesday, May 7th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.06.

Insider Buying and Selling

In related news, VP Stephen V. Drehobl sold 10,000 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $90.88, for a total value of $908,800.00. Following the transaction, the vice president now directly owns 82,203 shares in the company, valued at approximately $7,470,608.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Microchip Technology news, VP Stephen V. Drehobl sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $90.88, for a total transaction of $908,800.00. Following the transaction, the vice president now directly owns 82,203 shares in the company, valued at approximately $7,470,608.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Stephen V. Drehobl sold 7,830 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $95.06, for a total value of $744,319.80. Following the transaction, the vice president now owns 79,509 shares in the company, valued at $7,558,125.54. The disclosure for this sale can be found here. Insiders have sold a total of 23,993 shares of company stock worth $2,251,857 in the last ninety days. Corporate insiders own 2.07% of the company’s stock.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $91.58 on Monday. The company has a market cap of $49.17 billion, a price-to-earnings ratio of 26.39 and a beta of 1.55. Microchip Technology Incorporated has a 52 week low of $68.75 and a 52 week high of $100.57. The company has a quick ratio of 0.67, a current ratio of 1.20 and a debt-to-equity ratio of 0.75. The firm has a 50 day moving average of $92.48 and a 200-day moving average of $89.03.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Monday, May 6th. The semiconductor company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. Microchip Technology had a net margin of 24.98% and a return on equity of 36.78%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the firm posted $1.56 EPS. The company’s quarterly revenue was down 40.6% on a year-over-year basis. On average, equities analysts forecast that Microchip Technology Incorporated will post 2.35 earnings per share for the current year.

Microchip Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were issued a $0.452 dividend. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.81 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Tuesday, May 21st. Microchip Technology’s dividend payout ratio (DPR) is currently 52.16%.

About Microchip Technology

Microchip Technology Incorporated develops, manufactures, and sells 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 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.