Microchip Technology Incorporated (NASDAQ:MCHP) Stock Holdings Lifted by Nicholas Company Inc.

Nicholas Company Inc. raised its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 12.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 390,192 shares of the semiconductor company’s stock after buying an additional 42,697 shares during the period. Nicholas Company Inc. owned approximately 0.07% of Microchip Technology worth $22,378,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC purchased a new position in Microchip Technology during the 4th quarter worth approximately $26,000. Rakuten Securities Inc. grew its position in Microchip Technology by 309.5% during the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 359 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Microchip Technology during the 3rd quarter worth approximately $29,000. OFI Invest Asset Management purchased a new position in Microchip Technology during the 4th quarter worth approximately $29,000. Finally, Financial Life Planners purchased a new position in shares of Microchip Technology during the 4th quarter valued at $32,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. B. Riley restated a “buy” rating and set a $75.00 price target (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Evercore ISI boosted their price target on shares of Microchip Technology from $65.00 to $71.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. The Goldman Sachs Group lowered their price target on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. TD Cowen boosted their price target on shares of Microchip Technology from $50.00 to $60.00 and gave the company a “hold” rating in a report on Tuesday, March 4th. Finally, Needham & Company LLC upped their price objective on shares of Microchip Technology from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Two 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.37.

Insider Activity

In other news, CFO James Eric Bjornholt sold 3,724 shares of the company’s 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 completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is owned by company insiders.

Microchip Technology Stock Up 3.1 %

Microchip Technology stock opened at $53.50 on Friday. The firm has a market cap of $28.77 billion, a price-to-earnings ratio of 95.54 and a beta of 1.52. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. Microchip Technology Incorporated has a fifty-two week low of $50.21 and a fifty-two week high of $100.57. The firm has a fifty day moving average price of $56.51 and a two-hundred day moving average price of $65.68.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data 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 net margin of 6.49% and a return on equity of 12.62%. As a group, analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date was Monday, February 24th. Microchip Technology’s dividend payout ratio is currently 325.00%.

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.