AIA Group Ltd Purchases 13,326 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

AIA Group Ltd boosted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 80.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,910 shares of the semiconductor company's stock after acquiring an additional 13,326 shares during the period. AIA Group Ltd's holdings in Microchip Technology were worth $2,697,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Bleakley Financial Group LLC raised its position in shares of Microchip Technology by 1.3% during the fourth quarter. Bleakley Financial Group LLC now owns 9,415 shares of the semiconductor company's stock valued at $849,000 after buying an additional 119 shares during the last quarter. Aspire Private Capital LLC increased its holdings in Microchip Technology by 3.2% in the 4th quarter. Aspire Private Capital LLC now owns 3,904 shares of the semiconductor company's stock valued at $274,266,959,000 after buying an additional 120 shares during the period. RFG Advisory LLC raised its stake in shares of Microchip Technology by 3.2% in the 4th quarter. RFG Advisory LLC now owns 3,910 shares of the semiconductor company's stock valued at $353,000 after buying an additional 123 shares in the last quarter. Twelve Points Wealth Management LLC lifted its holdings in shares of Microchip Technology by 1.0% during the 4th quarter. Twelve Points Wealth Management LLC now owns 12,229 shares of the semiconductor company's stock worth $1,103,000 after acquiring an additional 125 shares during the period. Finally, Merit Financial Group LLC boosted its position in shares of Microchip Technology by 1.9% during the 3rd quarter. Merit Financial Group LLC now owns 7,096 shares of the semiconductor company's stock valued at $554,000 after acquiring an additional 134 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MCHP. Evercore ISI began coverage on shares of Microchip Technology in a research note on Tuesday. They issued an "outperform" rating and a $106.00 target price on the stock. TD Cowen increased their price objective on Microchip Technology from $75.00 to $80.00 and gave the stock a "market perform" rating in a research note on Friday, February 2nd. The Goldman Sachs Group cut their price objective on Microchip Technology from $87.00 to $77.00 and set a "neutral" rating for the company in a report on Friday, February 2nd. Stifel Nicolaus upped their target price on shares of Microchip Technology from $94.00 to $98.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Wolfe Research upgraded shares of Microchip Technology from a "peer perform" rating to an "outperform" rating and set a $105.00 target price for the company in a research report on Thursday, January 18th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Microchip Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.50.

Insiders Place Their Bets

In related news, CFO James Eric Bjornholt sold 1,970 shares of the company's stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $83.90, for a total value of $165,283.00. Following the completion of the sale, the chief financial officer now owns 32,893 shares in the company, valued at $2,759,722.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO James Eric Bjornholt sold 1,970 shares of Microchip Technology stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $83.90, for a total transaction of $165,283.00. Following the transaction, the chief financial officer now owns 32,893 shares of the company's stock, valued at approximately $2,759,722.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Karlton D. Johnson sold 370 shares of the business's stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total transaction of $31,080.00. Following the transaction, the director now owns 1,789 shares of the company's stock, valued at approximately $150,276. The disclosure for this sale can be found here. Company insiders own 2.07% of the company's stock.

Microchip Technology Trading Down 1.0 %

NASDAQ:MCHP traded down $0.86 during trading hours on Thursday, hitting $84.21. 5,260,757 shares of the stock were exchanged, compared to its average volume of 5,529,490. The company's 50 day moving average is $86.58 and its two-hundred day moving average is $84.24. The company has a market capitalization of $45.51 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 2.62 and a beta of 1.65. Microchip Technology Incorporated has a twelve month low of $68.75 and a twelve month high of $94.30. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 0.57.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.04. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.77 billion. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The firm's revenue for the quarter was down 18.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.48 earnings per share. On average, sell-side analysts anticipate that Microchip Technology Incorporated will post 4.64 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were paid a $0.45 dividend. The ex-dividend date was Thursday, February 22nd. This is a boost from Microchip Technology's previous quarterly dividend of $0.44. This represents a $1.80 dividend on an annualized basis and a yield of 2.14%. Microchip Technology's dividend payout ratio (DPR) is presently 42.06%.

Microchip Technology Company Profile

Microchip Technology Incorporated develops, manufactures, and sells 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 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.