Mufg Securities Americas Inc. Makes New Investment in Microchip Technology Incorporated (NASDAQ:MCHP)

Mufg Securities Americas Inc. acquired a new position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,928 shares of the semiconductor company's stock, valued at approximately $455,000.

A number of other large investors have also recently bought and sold shares of the business. Mainstream Capital Management LLC bought a new stake in Microchip Technology during the fourth quarter valued at about $26,000. Rakuten Securities Inc. boosted its holdings in Microchip Technology by 309.5% during the fourth quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company's stock valued at $27,000 after acquiring an additional 359 shares during the period. OFI Invest Asset Management bought a new stake in Microchip Technology during the fourth quarter valued at about $29,000. Financial Life Planners bought a new stake in Microchip Technology during the fourth quarter valued at about $32,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in Microchip Technology during the fourth quarter valued at about $34,000. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Price Performance

Microchip Technology stock traded down $0.64 during trading hours on Monday, hitting $60.57. 8,218,687 shares of the stock were exchanged, compared to its average volume of 8,552,453. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. The stock has a market capitalization of $32.63 billion, a P/E ratio of 108.16 and a beta of 1.42. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $100.57. The business's 50-day moving average is $47.51 and its two-hundred day moving average is $55.78.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. The firm had revenue of $970.50 million for the quarter, compared to analysts' expectations of $962.86 million. During the same period in the prior year, the firm earned $0.57 earnings per share. The company's quarterly revenue was down 26.8% compared to the same quarter last year. Equities research analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be paid a dividend of $0.455 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.82 annualized dividend and a dividend yield of 3.00%. Microchip Technology's dividend payout ratio (DPR) is currently -18,200.00%.

Insider Activity

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction 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 completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MCHP. Rosenblatt Securities reaffirmed a "buy" rating and set a $70.00 price objective on shares of Microchip Technology in a research report on Tuesday, March 4th. Stifel Nicolaus upped their price objective on shares of Microchip Technology from $60.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Morgan Stanley upped their price objective on shares of Microchip Technology from $39.00 to $50.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. UBS Group upped their price objective on shares of Microchip Technology from $55.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Finally, KeyCorp cut their price objective 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. 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 MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $67.42.

Microchip Technology 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.