Value Partners Investments Inc. raised its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 42.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,456 shares of the semiconductor company's stock after buying an additional 9,336 shares during the period. Value Partners Investments Inc.'s holdings in Microchip Technology were worth $1,803,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Microchip Technology by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 68,912,345 shares of the semiconductor company's stock worth $3,952,123,000 after purchasing an additional 569,699 shares during the last quarter. Van ECK Associates Corp increased its holdings in Microchip Technology by 39.3% during the fourth quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company's stock worth $636,184,000 after buying an additional 3,131,807 shares during the last quarter. Invesco Ltd. raised its holdings 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 period. Norges Bank acquired a new stake in shares of Microchip Technology in the fourth quarter valued at approximately $452,627,000. Finally, FIL Ltd grew its position in shares of Microchip Technology by 9.0% in the fourth 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 currently owned by institutional investors.
Microchip Technology Price Performance
NASDAQ MCHP traded down $1.14 on Friday, reaching $56.97. 4,059,219 shares of the company's stock traded hands, compared to its average volume of 8,604,470. The stock has a 50-day simple moving average of $48.46 and a 200 day simple moving average of $55.08. 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 $98.10. The stock has a market cap of $30.73 billion, a PE ratio of 102.05 and a beta of 1.42.
Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.11 earnings per share (EPS) 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 company had revenue of $970.50 million for the quarter, compared to analysts' expectations of $962.86 million. During the same quarter in the previous year, the business posted $0.57 EPS. Microchip Technology's revenue was down 26.8% compared to the same quarter last year. As a group, research analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.
Microchip Technology Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 22nd will be given a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Thursday, May 22nd. Microchip Technology's dividend payout ratio is presently -18,200.00%.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on MCHP shares. Morgan Stanley boosted their price objective on shares of Microchip Technology from $39.00 to $50.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. KeyCorp cut their target price on shares of Microchip Technology from $70.00 to $60.00 and set an "overweight" rating on the stock in a research report on Friday, February 7th. UBS Group upped their price target on shares of Microchip Technology from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Friday. TD Cowen lifted their target price on shares of Microchip Technology from $35.00 to $55.00 and gave the stock a "hold" rating in a research report on Friday, May 9th. Finally, Bank of America raised shares of Microchip Technology from an "underperform" rating to a "neutral" rating and set a $56.00 price objective for the company in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $67.68.
Get Our Latest Report on Microchip Technology
Insider Activity at Microchip Technology
In other Microchip Technology news, Director Karlton D. Johnson sold 494 shares of the company's 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 transaction, the director now directly owns 3,468 shares in the company, valued at $210,472.92. This represents a 12.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James Eric Bjornholt sold 2,015 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $55.78, for a total value of $112,396.70. Following the completion of the sale, the chief financial officer now owns 34,313 shares of the company's stock, valued at $1,913,979.14. The trade was a 5.55% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.
Microchip Technology Company Profile
(
Free Report)
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.
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