Advisors Asset Management Inc. Grows Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Advisors Asset Management Inc. raised its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 72.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,673 shares of the semiconductor company’s stock after buying an additional 25,151 shares during the period. Advisors Asset Management Inc.’s holdings in Microchip Technology were worth $3,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of MCHP. Mainstream Capital Management LLC purchased a new stake in shares of Microchip Technology in the 4th quarter worth approximately $26,000. Rakuten Securities Inc. lifted its position 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 purchasing an additional 359 shares during the period. Prospera Private Wealth LLC purchased a new stake in shares of Microchip Technology in the 3rd quarter worth approximately $29,000. OFI Invest Asset Management purchased a new stake in shares of Microchip Technology in the 4th quarter worth approximately $29,000. Finally, Financial Life Planners purchased a new stake in shares of Microchip Technology in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Down 6.5 %

NASDAQ:MCHP opened at $51.00 on Friday. The firm has a market capitalization of $27.43 billion, a P/E ratio of 91.07 and a beta of 1.52. Microchip Technology Incorporated has a 1-year low of $50.21 and a 1-year high of $100.57. The company’s fifty day moving average price is $56.24 and its 200-day moving average price is $65.03. 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 (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share 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 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date was Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is presently 325.00%.

Analyst Ratings Changes

MCHP has been the subject of a number of analyst reports. StockNews.com cut shares of Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Raymond James reissued a “strong-buy” rating and set a $60.00 target price (down previously from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. The Goldman Sachs Group decreased their target price on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Morgan Stanley decreased their target price on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Finally, KeyCorp cut their price target on shares of 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 research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and an average target price of $74.37.

Insider Buying and Selling

In related news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction on 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 directly 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 SEC, which is available at this hyperlink. 2.10% of the stock is currently owned by insiders.

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.