Headlands Technologies LLC Invests $2.12 Million in Microchip Technology Incorporated (NASDAQ:MCHP)

Headlands Technologies LLC acquired a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 36,961 shares of the semiconductor company’s stock, valued at approximately $2,120,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Microchip Technology during the 4th quarter worth approximately $452,627,000. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Microchip Technology by 273.2% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,345,096 shares of the semiconductor company’s stock worth $306,541,000 after purchasing an additional 3,912,895 shares during the period. Van ECK Associates Corp lifted its position in shares of Microchip Technology by 39.3% during the fourth quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company’s stock worth $636,184,000 after purchasing an additional 3,131,807 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Microchip Technology by 90.0% in the fourth quarter. Franklin Resources Inc. now owns 6,360,805 shares of the semiconductor company’s stock worth $364,792,000 after purchasing an additional 3,013,162 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased 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 worth $163,886,000 after buying an additional 2,829,082 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Stock Up 0.2 %

MCHP stock opened at $48.50 on Wednesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The firm’s fifty day simple moving average is $55.26 and its 200-day simple moving average is $63.40. Microchip Technology Incorporated has a 12 month low of $47.21 and a 12 month high of $100.57. The company has a market capitalization of $26.08 billion, a P/E ratio of 86.61 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate 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 forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology’s payout ratio is presently 325.00%.

Insiders Place Their Bets

In related news, CFO James Eric Bjornholt sold 3,724 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were 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 in the company, valued at $2,025,599.36. The trade was a 10.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

MCHP has been the subject of several research reports. Raymond James reissued a “strong-buy” rating and issued a $60.00 price objective (down from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. Rosenblatt Securities restated a “buy” rating and issued a $70.00 price objective on shares of Microchip Technology in a report on Tuesday, March 4th. Evercore ISI raised their target price on shares of Microchip Technology from $65.00 to $71.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Needham & Company LLC boosted their price target on shares of Microchip Technology from $60.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Finally, KeyCorp cut their price objective on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a report 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $74.37.

Microchip Technology 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.