1,371,603 Shares in Microchip Technology Incorporated (NASDAQ:MCHP) Bought by Madison Investment Advisors LLC

Madison Investment Advisors LLC acquired a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 1,371,603 shares of the semiconductor company’s stock, valued at approximately $78,661,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Mainstream Capital Management LLC bought a new position in shares of Microchip Technology in the fourth quarter valued at approximately $26,000. Rakuten Securities Inc. boosted its stake in shares of Microchip Technology by 309.5% in the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock worth $27,000 after buying an additional 359 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Microchip Technology in the 3rd quarter worth approximately $29,000. OFI Invest Asset Management bought a new position in shares of Microchip Technology in the fourth quarter valued at approximately $29,000. Finally, Financial Life Planners bought a new stake in Microchip Technology during the fourth quarter worth $32,000. 91.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MCHP shares. B. Riley reissued a “buy” rating and set a $75.00 price objective (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Mizuho lifted their price objective on Microchip Technology from $58.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. Needham & Company LLC lifted their target price on shares of Microchip Technology from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. TD Cowen raised their price target on Microchip Technology from $50.00 to $60.00 and gave the stock a “hold” rating in a report on Tuesday, March 4th. Finally, KeyCorp decreased their price objective on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Microchip Technology has a consensus rating of “Moderate Buy” and an average price target of $74.37.

Insider Activity at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the completion of the transaction, the chief financial officer now directly owns 33,272 shares of the company’s stock, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.10% of the stock is currently owned by insiders.

Microchip Technology Trading Down 0.7 %

MCHP opened at $51.90 on Thursday. The stock has a fifty day moving average price of $56.69 and a 200-day moving average price of $66.07. Microchip Technology Incorporated has a 12 month low of $50.21 and a 12 month 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 firm has a market cap of $27.91 billion, a price-to-earnings ratio of 92.68 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. As a group, equities research analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were paid a $0.455 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.51%. Microchip Technology’s payout ratio is currently 325.00%.

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.