Microchip Technology Incorporated (NASDAQ:MCHP) Shares Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC boosted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 28.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 197,279 shares of the semiconductor company’s stock after purchasing an additional 43,615 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Microchip Technology were worth $11,314,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MCHP. Assenagon Asset Management S.A. grew its stake in Microchip Technology by 9,901.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock valued at $163,886,000 after acquiring an additional 2,829,082 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Microchip Technology by 2,390.5% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,291,290 shares of the semiconductor company’s stock valued at $209,653,000 after purchasing an additional 2,199,290 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Microchip Technology by 25.1% in the third quarter. Van ECK Associates Corp now owns 7,961,200 shares of the semiconductor company’s stock valued at $599,239,000 after purchasing an additional 1,597,263 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Microchip Technology by 78.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,189,390 shares of the semiconductor company’s stock worth $200,329,000 after purchasing an additional 961,801 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Microchip Technology by 30.2% during the 3rd quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company’s stock worth $264,430,000 after purchasing an additional 776,408 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Evercore ISI reiterated an “outperform” rating and set a $95.00 target price (down previously from $101.00) on shares of Microchip Technology in a report on Wednesday, November 6th. Mizuho dropped their price objective on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. B. Riley lowered their price target on shares of Microchip Technology from $93.00 to $85.00 and set a “buy” rating for the company in a report on Friday. The Goldman Sachs Group reduced their price objective on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $85.00 target price on shares of Microchip Technology in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average price target of $84.00.

Microchip Technology Stock Down 4.3 %

MCHP opened at $57.03 on Friday. The company has a market cap of $30.63 billion, a PE ratio of 40.13 and a beta of 1.52. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88. Microchip Technology Incorporated has a 1 year low of $54.47 and a 1 year high of $100.57. The firm has a 50 day moving average price of $60.53 and a 200 day moving average price of $72.98.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The business’s revenue for the quarter was down 48.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.54 EPS. Sell-side analysts expect that Microchip Technology Incorporated will post 1.31 earnings per share for the current year.

Microchip Technology Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were given a $0.455 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $1.82 annualized dividend and a dividend yield of 3.19%. Microchip Technology’s dividend payout ratio is presently 127.27%.

About Microchip Technology

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.