Ensign Peak Advisors Inc Has $1.25 Million Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Ensign Peak Advisors Inc lowered its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 94.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,832 shares of the semiconductor company's stock after selling 376,501 shares during the quarter. Ensign Peak Advisors Inc's holdings in Microchip Technology were worth $1,252,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Microchip Technology by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 68,912,345 shares of the semiconductor company's stock worth $3,952,123,000 after buying an additional 569,699 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of 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. raised its holdings in shares of Microchip Technology by 9.5% during 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 in the last quarter. Norges Bank acquired a new stake in shares of Microchip Technology in the 4th quarter valued at $452,627,000. Finally, FIL Ltd lifted its stake in shares of Microchip Technology by 9.0% in the 4th quarter. FIL Ltd now owns 7,877,482 shares of the semiconductor company's stock valued at $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.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Rosenblatt Securities restated a "buy" rating and set a $70.00 target price on shares of Microchip Technology in a report on Tuesday, March 4th. Morgan Stanley increased their price objective on Microchip Technology from $39.00 to $50.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. UBS Group boosted their target price on Microchip Technology from $55.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Needham & Company LLC reiterated a "buy" rating and issued a $66.00 price objective on shares of Microchip Technology in a research note on Friday, May 9th. Finally, B. Riley boosted their target price on shares of Microchip Technology from $60.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Microchip Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $67.42.

Microchip Technology Price Performance

Shares of MCHP stock traded down $0.64 during trading hours on Monday, reaching $60.57. 8,218,687 shares of the company were exchanged, compared to its average volume of 8,552,453. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The company has a market cap of $32.63 billion, a price-to-earnings ratio of 108.16 and a beta of 1.42. The stock's fifty day moving average is $47.51 and its two-hundred day moving average is $55.78. Microchip Technology Incorporated has a fifty-two week low of $34.13 and a fifty-two week high of $100.57.

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

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd will be issued a $0.455 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.82 annualized dividend and a yield of 3.00%. Microchip Technology's dividend payout ratio (DPR) is presently -18,200.00%.

Insiders Place Their Bets

In related news, CFO James Eric Bjornholt sold 3,724 shares of the firm's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total transaction of $226,717.12. Following the sale, the chief financial officer now owns 33,272 shares of the company's stock, valued at approximately $2,025,599.36. This trade represents a 10.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.10% of the company's stock.

Microchip Technology Company 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.