Jump Financial LLC Has $3.33 Million Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Jump Financial LLC lessened its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 16.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 58,072 shares of the semiconductor company's stock after selling 11,821 shares during the quarter. Jump Financial LLC's holdings in Microchip Technology were worth $3,330,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MCHP. Vanguard Group Inc. lifted its position 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 acquiring an additional 569,699 shares during the last quarter. Van ECK Associates Corp grew its holdings in Microchip Technology by 39.3% in 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 last quarter. Invesco Ltd. increased its position in Microchip Technology by 9.5% in the 4th quarter. Invesco Ltd. now owns 10,247,908 shares of the semiconductor company's stock worth $587,718,000 after buying an additional 890,819 shares during the period. Norges Bank acquired a new position in shares of Microchip Technology during the fourth quarter worth approximately $452,627,000. Finally, FIL Ltd grew its stake 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 worth $451,774,000 after acquiring an additional 653,705 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. B. Riley reissued a "buy" rating and issued a $75.00 price target (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Rosenblatt Securities reissued a "buy" rating and set a $70.00 target price on shares of Microchip Technology in a research report on Tuesday, March 4th. Needham & Company LLC boosted their price objective on Microchip Technology from $60.00 to $66.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Raymond James reissued a "strong-buy" rating and issued a $60.00 target price (down from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. Finally, StockNews.com cut shares of Microchip Technology from a "hold" rating to a "sell" rating in a research note on Monday, February 10th. Two research analysts have rated the stock with a sell rating, four have assigned 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, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $69.32.

Insider Buying and Selling at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value 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. The trade was a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.10% of the company's stock.

Microchip Technology Stock Up 5.4 %

Shares of NASDAQ:MCHP traded up $2.17 during midday trading on Wednesday, reaching $42.46. 3,114,718 shares of the company were exchanged, compared to its average volume of 8,126,442. The firm has a market cap of $22.84 billion, a PE ratio of 75.82 and a beta of 1.51. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. Microchip Technology Incorporated has a fifty-two week low of $34.13 and a fifty-two week high of $100.57. The stock has a fifty day simple moving average of $50.15 and a two-hundred day simple moving average of $59.09.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. As a group, sell-side analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 4.29%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology's payout ratio is 325.00%.

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.