Dean Capital Management Invests $1.34 Million in Microchip Technology Incorporated (NASDAQ:MCHP)

Dean Capital Management bought a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 23,374 shares of the semiconductor company's stock, valued at approximately $1,340,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCHP. Vanguard Group Inc. raised its position in shares of Microchip Technology by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 68,912,345 shares of the semiconductor company's stock worth $3,952,123,000 after acquiring an additional 569,699 shares during the last quarter. Van ECK Associates Corp raised 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. boosted its stake in shares of Microchip Technology by 9.5% in the 4th quarter. Invesco Ltd. now owns 10,247,908 shares of the semiconductor company's stock valued at $587,718,000 after purchasing an additional 890,819 shares during the last quarter. Norges Bank bought a new stake in shares of Microchip Technology in the 4th quarter valued at $452,627,000. Finally, FIL Ltd increased its position in shares of Microchip Technology by 9.0% during the fourth quarter. FIL Ltd now owns 7,877,482 shares of the semiconductor company's stock worth $451,774,000 after buying an additional 653,705 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Stock Up 12.6 %

Shares of NASDAQ MCHP traded up $6.19 during trading on Friday, hitting $55.33. The stock had a trading volume of 21,358,016 shares, compared to its average volume of 8,385,921. The firm has a fifty day moving average of $47.06 and a two-hundred day moving average of $56.57. The company has a market capitalization of $29.76 billion, a PE ratio of 98.80 and a beta of 1.42. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $100.57.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. The firm had revenue of $970.50 million during the quarter, compared to analyst estimates of $962.86 million. During the same quarter last year, the business posted $0.57 EPS. The company's revenue for the quarter was down 26.8% on a year-over-year basis. As a group, equities research analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd will be paid a $0.455 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 3.29%. Microchip Technology's dividend payout ratio (DPR) is presently -18,200.00%.

Insider Activity

In other news, CFO James Eric Bjornholt sold 3,724 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the sale, the chief financial officer now owns 33,272 shares in the company, valued at $2,025,599.36. This trade represents a 10.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on MCHP shares. TD Cowen upped their price target on shares of Microchip Technology from $35.00 to $55.00 and gave the company a "hold" rating in a research report on Friday. The Goldman Sachs Group cut their target price on Microchip Technology from $72.00 to $63.00 and set a "neutral" rating on the stock in a research report on Friday, January 10th. Citigroup lifted their target price on Microchip Technology from $50.00 to $55.00 and gave the stock a "buy" rating in a report on Friday. KeyCorp cut their price target on Microchip Technology from $70.00 to $60.00 and set an "overweight" rating on the stock in a report on Friday, February 7th. Finally, UBS Group raised their price objective on shares of Microchip Technology from $55.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Microchip Technology presently has an average rating of "Moderate Buy" and a consensus price target of $67.42.

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.