Two Sigma Investments LP Makes New Investment in Microchip Technology Incorporated (NASDAQ:MCHP)

Two Sigma Investments LP acquired a new position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,625,040 shares of the semiconductor company's stock, valued at approximately $93,196,000. Two Sigma Investments LP owned 0.30% of Microchip Technology as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Microchip Technology during the 4th quarter valued at $452,627,000. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Microchip Technology by 273.2% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,345,096 shares of the semiconductor company's stock valued at $306,541,000 after buying an additional 3,912,895 shares during the period. Van ECK Associates Corp boosted 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 valued at $636,184,000 after buying an additional 3,131,807 shares during the period. Franklin Resources Inc. boosted its stake in shares of Microchip Technology by 90.0% during the 4th quarter. Franklin Resources Inc. now owns 6,360,805 shares of the semiconductor company's stock valued at $364,792,000 after buying an additional 3,013,162 shares during the period. Finally, Meritage Group LP acquired a new stake in shares of Microchip Technology during the 4th quarter valued at $145,033,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Insider Activity

In related news, Director Karlton D. Johnson sold 494 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $60.69, for a total value of $29,980.86. Following the completion of the transaction, the director now owns 3,468 shares of the company's stock, valued at $210,472.92. This represents a 12.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the transaction, the chief financial officer now directly owns 33,272 shares of the company's stock, valued at $2,025,599.36. This trade represents a 10.07% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.

Microchip Technology Stock Performance

Microchip Technology stock traded down $1.86 on Friday, reaching $56.19. 10,093,410 shares of the stock were exchanged, compared to its average volume of 8,600,730. The firm has a fifty day moving average price of $48.07 and a two-hundred day moving average price of $55.37. The stock has a market cap of $30.27 billion, a PE ratio of 100.34 and a beta of 1.42. 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 Incorporated has a twelve month low of $34.13 and a twelve month high of $98.99.

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

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Thursday, May 22nd. Microchip Technology's dividend payout ratio is currently -18,200.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MCHP. Raymond James lifted their target price on shares of Microchip Technology from $60.00 to $65.00 and gave the company a "strong-buy" rating in a research note on Friday, May 9th. B. Riley lifted their price objective on shares of Microchip Technology from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Rosenblatt Securities reiterated a "buy" rating and issued a $70.00 price objective on shares of Microchip Technology in a report on Tuesday, March 4th. Bank of America upgraded shares of Microchip Technology from an "underperform" rating to a "neutral" rating and set a $56.00 price objective for the company in a report on Friday, May 9th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $65.00 price objective (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $67.42.

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.