Headlands Technologies LLC Raises Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Headlands Technologies LLC raised its stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 202.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,713 shares of the semiconductor company's stock after acquiring an additional 13,866 shares during the period. Headlands Technologies LLC's holdings in Microchip Technology were worth $1,868,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCHP. DAVENPORT & Co LLC raised its holdings in Microchip Technology by 3.4% in the 3rd quarter. DAVENPORT & Co LLC now owns 14,226 shares of the semiconductor company's stock valued at $1,110,000 after acquiring an additional 464 shares in the last quarter. Private Trust Co. NA raised its holdings in shares of Microchip Technology by 2.8% during the 3rd quarter. Private Trust Co. NA now owns 5,675 shares of the semiconductor company's stock worth $443,000 after buying an additional 157 shares in the last quarter. Czech National Bank raised its holdings in shares of Microchip Technology by 46.7% during the 3rd quarter. Czech National Bank now owns 95,139 shares of the semiconductor company's stock worth $7,426,000 after buying an additional 30,291 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Microchip Technology by 2.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 207,377 shares of the semiconductor company's stock worth $16,186,000 after buying an additional 4,553 shares in the last quarter. Finally, Ballentine Partners LLC raised its holdings in shares of Microchip Technology by 10.4% during the 3rd quarter. Ballentine Partners LLC now owns 3,348 shares of the semiconductor company's stock worth $261,000 after buying an additional 316 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MCHP has been the subject of a number of research analyst reports. Stifel Nicolaus boosted their price target on Microchip Technology from $94.00 to $98.00 and gave the stock a "buy" rating in a report on Thursday, April 18th. UBS Group lowered their target price on Microchip Technology from $105.00 to $95.00 and set a "buy" rating for the company in a report on Friday, February 2nd. The Goldman Sachs Group lowered their target price on Microchip Technology from $87.00 to $77.00 and set a "neutral" rating for the company in a report on Friday, February 2nd. Rosenblatt Securities reaffirmed a "buy" rating and issued a $100.00 target price on shares of Microchip Technology in a report on Tuesday, January 30th. Finally, TD Cowen upped their target price on Microchip Technology from $75.00 to $80.00 and gave the stock a "market perform" rating in a report on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $92.50.

Insider Activity at Microchip Technology

In related news, Director Karlton D. Johnson sold 370 shares of the company's stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total transaction of $31,080.00. Following the transaction, the director now directly owns 1,789 shares of the company's stock, valued at approximately $150,276. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO James Eric Bjornholt sold 1,970 shares of the company's stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total transaction of $165,283.00. Following the transaction, the chief financial officer now directly owns 32,893 shares of the company's stock, valued at approximately $2,759,722.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Karlton D. Johnson sold 370 shares of the company's stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total value of $31,080.00. Following the transaction, the director now directly owns 1,789 shares in the company, valued at $150,276. The disclosure for this sale can be found here. 2.07% of the stock is owned by corporate insiders.

Microchip Technology Trading Up 1.5 %

Shares of NASDAQ MCHP traded up $1.39 during trading on Friday, reaching $93.60. The company had a trading volume of 5,621,114 shares, compared to its average volume of 4,575,927. The company's fifty day moving average price is $87.24 and its 200-day moving average price is $84.70. Microchip Technology Incorporated has a 12 month low of $68.75 and a 12 month high of $94.63. The stock has a market cap of $50.58 billion, a P/E ratio of 21.87, a PEG ratio of 2.86 and a beta of 1.65. 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 released its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $1.08 EPS for the quarter, beating analysts' consensus estimates of $1.04 by $0.04. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the previous year, the company posted $1.48 EPS. The business's revenue was down 18.6% on a year-over-year basis. As a group, research analysts expect that Microchip Technology Incorporated will post 4.64 earnings per share for the current year.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were given a dividend of $0.45 per share. This is a positive change from Microchip Technology's previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.80 annualized dividend and a dividend yield of 1.92%. Microchip Technology's dividend payout ratio 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.