Janus Henderson Group PLC Has $32.17 Million Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Janus Henderson Group PLC decreased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 76.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 560,982 shares of the semiconductor company's stock after selling 1,823,324 shares during the quarter. Janus Henderson Group PLC owned 0.10% of Microchip Technology worth $32,172,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Consolidated Planning Corp acquired a new stake in Microchip Technology in the 4th quarter worth about $308,000. one8zero8 LLC acquired a new stake in Microchip Technology in the 4th quarter worth about $384,000. Symphony Financial Ltd. Co. acquired a new stake in Microchip Technology in the 4th quarter worth about $520,000. Truist Financial Corp raised its stake in Microchip Technology by 5.8% in the 4th quarter. Truist Financial Corp now owns 959,439 shares of the semiconductor company's stock worth $55,024,000 after purchasing an additional 52,222 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Microchip Technology by 0.8% in 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 in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Insider Buying and Selling

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the business'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 sale, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.10% of the stock is owned by corporate insiders.

Microchip Technology Price Performance

MCHP stock opened at $60.65 on Thursday. The company has a 50 day simple moving average of $47.18 and a 200 day simple moving average of $56.27. The stock has a market cap of $32.62 billion, a price-to-earnings ratio of 108.30 and a beta of 1.42. Microchip Technology Incorporated has a 1 year low of $34.13 and a 1 year high of $100.57. 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 (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $970.50 million during the quarter, compared to analysts' expectations of $962.86 million. Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. The firm's quarterly revenue was down 26.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.57 EPS. Research analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Investors 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 yield of 3.00%. The ex-dividend date is Thursday, May 22nd. Microchip Technology's dividend payout ratio is -18,200.00%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. StockNews.com cut shares of Microchip Technology from a "hold" rating to a "sell" rating in a research note on Monday, February 10th. KeyCorp dropped their target price on shares of Microchip Technology from $70.00 to $60.00 and set an "overweight" rating for the company in a research report on Friday, February 7th. Piper Sandler restated an "overweight" rating and issued a $65.00 target price (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Bank of America upgraded shares of Microchip Technology from an "underperform" rating to a "neutral" rating and set a $56.00 target price for the company in a research report on Friday, May 9th. Finally, Evercore ISI boosted their target price on shares of Microchip Technology from $65.00 to $71.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. One equities research 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 company. According to data from MarketBeat.com, Microchip Technology has an average rating of "Moderate Buy" and an average 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.

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