National Bank of Canada FI Has $65.25 Million Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

National Bank of Canada FI grew its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 203.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 753,829 shares of the semiconductor company's stock after buying an additional 505,324 shares during the period. National Bank of Canada FI owned 0.14% of Microchip Technology worth $65,252,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in MCHP. Legacy Financial Advisors Inc. raised its position in Microchip Technology by 7.1% in the fourth quarter. Legacy Financial Advisors Inc. now owns 3,398 shares of the semiconductor company's stock worth $306,000 after acquiring an additional 225 shares in the last quarter. Merit Financial Group LLC boosted its holdings in Microchip Technology by 12.2% during the fourth quarter. Merit Financial Group LLC now owns 7,960 shares of the semiconductor company's stock worth $718,000 after buying an additional 864 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Microchip Technology by 9.9% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 11,391 shares of the semiconductor company's stock valued at $1,027,000 after buying an additional 1,030 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Microchip Technology by 792.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 82,819 shares of the semiconductor company's stock valued at $7,469,000 after acquiring an additional 73,535 shares during the last quarter. Finally, Natixis Advisors L.P. boosted its stake in shares of Microchip Technology by 11.3% during the 4th quarter. Natixis Advisors L.P. now owns 238,801 shares of the semiconductor company's stock worth $21,535,000 after acquiring an additional 24,200 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Price Performance

Shares of MCHP traded up $1.90 during mid-day trading on Friday, reaching $91.36. The company had a trading volume of 6,983,068 shares, compared to its average volume of 5,300,839. The company's 50-day moving average is $88.05 and its 200-day moving average is $85.13. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.58. Microchip Technology Incorporated has a twelve month low of $68.75 and a twelve month high of $94.63. The company has a market capitalization of $49.37 billion, a P/E ratio of 21.35, a P/E/G ratio of 2.79 and a beta of 1.60.

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 for the quarter, beating analysts' consensus estimates of $1.04 by $0.04. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the business posted $1.48 earnings per share. Microchip Technology's revenue for the quarter was down 18.6% compared to the same quarter last year. On average, equities analysts anticipate that Microchip Technology Incorporated will post 4.64 EPS for the current year.

Analysts Set New Price Targets

MCHP has been the topic of a number of recent analyst reports. Evercore ISI initiated coverage on Microchip Technology in a research report on Tuesday, April 16th. They set an "outperform" rating and a $106.00 target price on the stock. Susquehanna reissued a "positive" rating and issued a $100.00 target price on shares of Microchip Technology in a research report on Monday, April 8th. Truist Financial cut their price target on shares of Microchip Technology from $97.00 to $93.00 and set a "buy" rating on the stock in a report on Tuesday, January 9th. Stifel Nicolaus raised their price objective on shares of Microchip Technology from $98.00 to $102.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Rosenblatt Securities reissued a "buy" rating and set a $100.00 target price on shares of Microchip Technology in a research note on Tuesday, January 30th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $92.75.

Insider Buying and Selling at Microchip Technology

In other news, Director Karlton D. Johnson sold 370 shares of the business's stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total value of $31,080.00. Following the sale, the director now directly owns 1,789 shares in the company, valued at $150,276. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Karlton D. Johnson sold 370 shares of the company's stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total transaction of $31,080.00. Following the sale, the director now owns 1,789 shares in the company, valued at $150,276. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James Eric Bjornholt sold 1,970 shares of the company's stock in a transaction 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 sale, the chief financial officer now directly owns 32,893 shares in the company, valued at $2,759,722.70. The disclosure for this sale can be found here. Insiders own 2.07% of the company's stock.

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.