APG Asset Management N.V. Has $17.49 Million Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

APG Asset Management N.V. grew its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 780.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 315,870 shares of the semiconductor company’s stock after acquiring an additional 279,989 shares during the period. APG Asset Management N.V.’s holdings in Microchip Technology were worth $17,494,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Microchip Technology by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 68,912,345 shares of the semiconductor company’s stock valued at $3,952,123,000 after buying an additional 569,699 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Microchip Technology by 39.3% during the 4th quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company’s stock worth $636,184,000 after purchasing an additional 3,131,807 shares during the last quarter. Invesco Ltd. lifted its holdings in Microchip Technology by 9.5% during the 4th quarter. Invesco Ltd. now owns 10,247,908 shares of the semiconductor company’s stock worth $587,718,000 after purchasing an additional 890,819 shares during the last quarter. Norges Bank acquired a new stake in Microchip Technology during the 4th quarter worth approximately $452,627,000. Finally, FIL Ltd lifted its holdings in Microchip Technology by 9.0% during the 4th quarter. FIL Ltd now owns 7,877,482 shares of the semiconductor company’s stock worth $451,774,000 after purchasing an additional 653,705 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO James Eric Bjornholt sold 3,724 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the transaction, the chief financial officer now directly owns 33,272 shares of the company’s stock, valued at $2,025,599.36. The trade was a 10.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is owned by company insiders.

Microchip Technology Stock Up 27.1 %

Shares of MCHP opened at $44.90 on Thursday. The company has a market capitalization of $24.15 billion, a PE ratio of 80.18 and a beta of 1.51. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $100.57. The stock’s 50-day moving average price is $52.68 and its two-hundred day moving average price is $61.56. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. On average, analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology’s dividend payout ratio is 325.00%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MCHP. Mizuho lifted their price target on Microchip Technology from $58.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. Morgan Stanley lowered their price objective on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. The Goldman Sachs Group lowered their price objective on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Evercore ISI raised their price objective on Microchip Technology from $65.00 to $71.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 4th. Finally, Rosenblatt Securities restated a “buy” rating and set a $70.00 price objective on shares of Microchip Technology in a research note on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $74.37.

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.