Mirabella Financial Services LLP Makes New $482,000 Investment in Microchip Technology Incorporated (NASDAQ:MCHP)

Mirabella Financial Services LLP purchased a new position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,400 shares of the semiconductor company's stock, valued at approximately $482,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Microchip Technology by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 68,912,345 shares of the semiconductor company's stock valued at $3,952,123,000 after purchasing an additional 569,699 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Microchip Technology by 39.3% in the fourth 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. Invesco Ltd. boosted its stake in Microchip Technology by 9.5% during the fourth quarter. Invesco Ltd. now owns 10,247,908 shares of the semiconductor company's stock valued at $587,718,000 after buying an additional 890,819 shares in the last quarter. Norges Bank acquired a new position in Microchip Technology during the fourth quarter worth about $452,627,000. Finally, FIL Ltd raised its position in 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 in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of the firm's 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 directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

MCHP has been the subject of several recent research reports. Needham & Company LLC increased their target price on shares of Microchip Technology from $60.00 to $66.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. TD Cowen raised their price objective on Microchip Technology from $50.00 to $60.00 and gave the stock a "hold" rating in a research note on Tuesday, March 4th. Truist Financial decreased their target price on Microchip Technology from $56.00 to $43.00 and set a "hold" rating on the stock in a report on Monday, April 21st. Rosenblatt Securities reissued a "buy" rating and issued a $70.00 price target on shares of Microchip Technology in a research note on Tuesday, March 4th. Finally, Mizuho upped their price objective on shares of Microchip Technology from $58.00 to $68.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Microchip Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.32.

Microchip Technology Stock Down 0.5 %

NASDAQ MCHP traded down $0.23 during trading on Friday, reaching $46.89. The company's stock had a trading volume of 7,677,163 shares, compared to its average volume of 8,224,269. The business has a 50-day moving average price of $49.48 and a 200-day moving average price of $58.56. Microchip Technology Incorporated has a 1-year low of $34.13 and a 1-year high of $100.57. The stock has a market capitalization of $25.22 billion, a PE ratio of 83.73 and a beta of 1.51. 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 (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. On average, research analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were issued a $0.455 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.88%. Microchip Technology's dividend payout ratio (DPR) is currently 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.