Microchip Technology Incorporated (NASDAQ:MCHP) Shares Acquired by Numerai GP LLC

Numerai GP LLC increased its stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 164.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,557 shares of the semiconductor company's stock after acquiring an additional 10,926 shares during the quarter. Numerai GP LLC's holdings in Microchip Technology were worth $1,007,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MCHP. Norges Bank purchased a new stake in Microchip Technology in the 4th quarter worth $452,627,000. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Microchip Technology by 273.2% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,345,096 shares of the semiconductor company's stock worth $306,541,000 after acquiring an additional 3,912,895 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Microchip Technology by 39.3% during the fourth quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company's stock worth $636,184,000 after buying an additional 3,131,807 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Microchip Technology by 90.0% during the fourth quarter. Franklin Resources Inc. now owns 6,360,805 shares of the semiconductor company's stock worth $364,792,000 after buying an additional 3,013,162 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Microchip Technology by 9,901.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company's stock worth $163,886,000 after buying an additional 2,829,082 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MCHP. Citigroup upped their target price on shares of Microchip Technology from $50.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, May 9th. B. Riley upped their target price on shares of Microchip Technology from $60.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Raymond James upped their target price on shares of Microchip Technology from $60.00 to $65.00 and gave the stock a "strong-buy" rating in a report on Friday, May 9th. Stifel Nicolaus upped their target price on shares of Microchip Technology from $60.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $66.00 target price on shares of Microchip Technology in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $67.42.

Insider Buying and Selling at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the sale, the chief financial officer now owns 33,272 shares of the company's stock, valued at approximately $2,025,599.36. This represents a 10.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is currently owned by corporate insiders.

Microchip Technology Trading Up 0.7%

NASDAQ MCHP traded up $0.41 during trading hours on Friday, reaching $61.21. The company had a trading volume of 6,583,210 shares, compared to its average volume of 8,553,790. The stock has a 50-day moving average of $47.51 and a 200 day moving average of $55.90. Microchip Technology Incorporated has a 1-year low of $34.13 and a 1-year high of $100.57. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $32.97 billion, a P/E ratio of 109.30 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 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. The company had revenue of $970.50 million for the quarter, compared to analysts' expectations of $962.86 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. Microchip Technology's revenue for the quarter was down 26.8% compared to the same quarter last year. As a group, research analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd will be given a $0.455 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 2.97%. Microchip Technology's payout ratio is currently -18,200.00%.

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.