MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $28.21 Million Position in Microchip Technology Incorporated (NASDAQ:MCHP)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 492,174 shares of the semiconductor company's stock after buying an additional 14,195 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.09% of Microchip Technology worth $28,212,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Microchip Technology by 0.8% during the fourth 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 4th quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company's stock worth $636,184,000 after purchasing an additional 3,131,807 shares during the last quarter. Invesco Ltd. increased its position 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 worth $587,718,000 after purchasing an additional 890,819 shares during the last quarter. Norges Bank acquired a new position in shares of Microchip Technology in the 4th quarter worth approximately $452,627,000. Finally, FIL Ltd grew its position in shares of Microchip Technology by 9.0% during the 4th quarter. FIL Ltd now owns 7,877,482 shares of the semiconductor company's stock valued at $451,774,000 after buying an additional 653,705 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Analyst Ratings Changes

MCHP has been the topic of several analyst reports. TD Cowen raised their target price on Microchip Technology from $35.00 to $55.00 and gave the company a "hold" rating in a research report on Friday, May 9th. Stifel Nicolaus upped their price objective on Microchip Technology from $60.00 to $70.00 and gave the company a "buy" rating in a report on Friday, May 9th. Rosenblatt Securities reaffirmed a "buy" rating and set a $70.00 target price on shares of Microchip Technology in a research note on Tuesday, March 4th. Truist Financial lifted their price objective on shares of Microchip Technology from $43.00 to $52.00 and gave the stock a "hold" rating in a research note on Friday, May 9th. Finally, KeyCorp cut 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 note on Friday, February 7th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $67.42.

Microchip Technology Stock Down 1.1%

NASDAQ MCHP traded down $0.69 on Monday, reaching $60.52. The stock had a trading volume of 5,342,050 shares, compared to its average volume of 8,551,574. 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 1 year low of $34.13 and a 1 year high of $100.57. The business has a 50 day moving average price of $47.51 and a 200 day moving average price of $55.78. The company has a market capitalization of $32.60 billion, a price-to-earnings ratio of 108.07 and a beta of 1.42.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its earnings results on Thursday, May 8th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. The firm 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 company's revenue was down 26.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.57 earnings per share. On average, analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Thursday, May 22nd. Microchip Technology's dividend payout ratio is -18,200.00%.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the transaction, 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.10% of the stock is owned by corporate insiders.

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.