Microchip Technology Incorporated (NASDAQ:MCHP) Shares Purchased by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. raised its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 17.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 406,700 shares of the semiconductor company's stock after buying an additional 61,000 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.08% of Microchip Technology worth $23,324,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Mainstream Capital Management LLC purchased a new position in shares of Microchip Technology during the 4th quarter worth $26,000. Rakuten Securities Inc. increased its holdings in 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 acquiring an additional 359 shares in the last quarter. OFI Invest Asset Management purchased a new position in Microchip Technology during the fourth quarter valued at approximately $29,000. Financial Life Planners purchased a new stake in shares of Microchip Technology in the fourth quarter worth $32,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Microchip Technology in the fourth quarter worth $34,000. Institutional investors own 91.51% of the company's stock.

Insiders Place Their Bets

In other news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 33,272 shares of the company's stock, 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 Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.10% of the company's stock.

Microchip Technology Stock Performance

MCHP stock traded down $1.09 during midday trading on Tuesday, reaching $45.92. The stock had a trading volume of 8,287,173 shares, compared to its average volume of 8,230,345. The firm has a fifty day simple moving average of $49.15 and a two-hundred day simple moving average of $58.07. Microchip Technology Incorporated has a 52-week low of $34.13 and a 52-week high of $100.57. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. The stock has a market cap of $24.70 billion, a PE ratio of 82.00 and a beta of 1.51.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate 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, equities research analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 3.96%. The ex-dividend date was Monday, February 24th. Microchip Technology's dividend payout ratio is currently 325.00%.

Analyst Ratings Changes

Several brokerages have recently commented on MCHP. Mizuho boosted their price objective on Microchip Technology from $58.00 to $68.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. Citigroup decreased their price target on Microchip Technology from $65.00 to $50.00 and set a "buy" rating on the stock in a report on Friday, April 11th. The Goldman Sachs Group dropped their target price on Microchip Technology from $72.00 to $63.00 and set a "neutral" rating for the company in a research report on Friday, January 10th. KeyCorp reduced 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. Finally, Raymond James reissued a "strong-buy" rating and set a $60.00 price target (down previously from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Microchip Technology has a consensus rating of "Moderate Buy" and a consensus price target of $66.79.

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.