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

Czech National Bank increased its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 6.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 109,291 shares of the semiconductor company’s stock after purchasing an additional 6,315 shares during the period. Czech National Bank’s holdings in Microchip Technology were worth $8,775,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new position in shares of Microchip Technology during the 1st quarter valued at $28,000. Pineridge Advisors LLC acquired a new position in Microchip Technology in the fourth quarter worth approximately $33,000. Steph & Co. raised its position in Microchip Technology by 57.4% during the first quarter. Steph & Co. now owns 414 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 151 shares in the last quarter. Pathway Financial Advisers LLC acquired a new stake in Microchip Technology in the first quarter valued at approximately $39,000. Finally, Richardson Capital Management LLC acquired a new position in shares of Microchip Technology during the 1st quarter worth $45,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MCHP has been the subject of a number of recent research reports. Truist Financial cut shares of Microchip Technology from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $89.00 to $80.00 in a report on Monday, September 23rd. Piper Sandler raised shares of Microchip Technology from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $90.00 to $100.00 in a research report on Friday, August 16th. Morgan Stanley cut Microchip Technology from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $102.00 to $100.00 in a report on Thursday, July 11th. Susquehanna cut their price target on shares of Microchip Technology from $115.00 to $105.00 and set a “positive” rating for the company in a research note on Friday, August 2nd. Finally, StockNews.com cut Microchip Technology from a “hold” rating to a “sell” rating in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $99.47.

Microchip Technology Stock Performance

Shares of Microchip Technology stock opened at $77.68 on Friday. The company has a 50 day moving average of $78.80 and a 200-day moving average of $86.95. The company has a market cap of $41.68 billion, a PE ratio of 22.39 and a beta of 1.52. 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.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, August 1st. The semiconductor company reported $0.53 earnings per share 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 net margin of 20.80% and a return on equity of 28.33%. The company’s quarterly revenue was down 45.8% on a year-over-year basis. During the same quarter last year, the business posted $1.56 earnings per share. As a group, equities research analysts forecast that Microchip Technology Incorporated will post 1.74 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently announced 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 represents a $1.82 dividend on an annualized basis and a yield of 2.34%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, August 22nd. Microchip Technology’s payout ratio is presently 52.16%.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,154 shares of the 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 owns 33,257 shares of the company’s stock, valued at approximately $2,710,445.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.07% of the company’s stock.

About Microchip Technology

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.