TCV Trust & Wealth Management Inc. Has $12.95 Million Position in Microchip Technology Incorporated (NASDAQ:MCHP)

TCV Trust & Wealth Management Inc. lifted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 225,717 shares of the semiconductor company’s stock after purchasing an additional 3,557 shares during the quarter. TCV Trust & Wealth Management Inc.’s holdings in Microchip Technology were worth $12,945,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. 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 purchasing an additional 2,829,082 shares during the last quarter. Van ECK Associates Corp boosted its position in Microchip Technology by 25.1% during the 3rd quarter. Van ECK Associates Corp now owns 7,961,200 shares of the semiconductor company’s stock worth $599,239,000 after buying an additional 1,597,263 shares during the period. Franklin Resources Inc. grew its holdings in 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 acquiring an additional 776,408 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Microchip Technology by 20.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,751,987 shares of the semiconductor company’s stock valued at $220,957,000 after acquiring an additional 460,697 shares during the period. Finally, DF Dent & Co. Inc. bought a new position in shares of Microchip Technology during the third quarter valued at $27,744,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Raymond James reissued a “strong-buy” rating and issued a $60.00 price objective (down previously from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. Jefferies Financial Group reduced their price target on Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Mizuho lowered 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. Needham & Company LLC reduced their target price on Microchip Technology from $85.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Finally, 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. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average price target of $77.11.

Microchip Technology Trading Up 1.0 %

Shares of Microchip Technology stock opened at $52.58 on Wednesday. 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 52 week low of $50.21 and a 52 week high of $100.57. The stock has a 50 day moving average price of $57.35 and a two-hundred day moving average price of $69.49. The stock has a market capitalization of $28.24 billion, a PE ratio of 93.89 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (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 12.41%. As a group, equities analysts anticipate that Microchip Technology Incorporated will post 1.3 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be paid a $0.455 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 3.46%. Microchip Technology’s payout ratio is 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.