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

Advisors Asset Management Inc. increased its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 72.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 59,673 shares of the semiconductor company's stock after acquiring an additional 25,151 shares during the period. Advisors Asset Management Inc.'s holdings in Microchip Technology were worth $3,422,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Mainstream Capital Management LLC purchased a new position in Microchip Technology in the 4th quarter worth about $26,000. Rakuten Securities Inc. boosted 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 valued at $27,000 after acquiring an additional 359 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Microchip Technology in the 3rd quarter worth approximately $29,000. OFI Invest Asset Management bought a new position in shares of Microchip Technology during the 4th quarter worth approximately $29,000. Finally, Financial Life Planners purchased a new stake in Microchip Technology during the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Insider Activity at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the company's 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 completion of the transaction, the chief financial officer now directly owns 33,272 shares in the company, valued at approximately $2,025,599.36. This represents a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.10% of the stock is owned by company insiders.

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Microchip Technology Stock Performance

NASDAQ:MCHP traded down $1.53 during trading hours on Tuesday, reaching $52.36. The company had a trading volume of 8,676,302 shares, compared to its average volume of 10,163,655. The firm has a market cap of $28.16 billion, a PE ratio of 93.50 and a beta of 1.52. Microchip Technology Incorporated has a 1-year low of $49.92 and a 1-year high of $100.57. The business's 50 day moving average price is $56.13 and its 200-day moving average price is $64.49. 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 - Get Free Report) last posted its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (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%. Research analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The firm also recently announced 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 3.48%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology's dividend payout ratio (DPR) is presently 325.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MCHP shares. B. Riley reaffirmed a "buy" rating and set a $75.00 price target (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Bank of America cut Microchip Technology from a "neutral" rating to an "underperform" rating and decreased their price target for the company from $80.00 to $65.00 in a research note on Monday, December 16th. TD Cowen boosted their price target on Microchip Technology from $50.00 to $60.00 and gave the stock a "hold" rating in a research note on Tuesday, March 4th. Mizuho upped their price objective on shares of Microchip Technology from $58.00 to $68.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. Finally, Morgan Stanley lowered 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 note on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Microchip Technology currently has an average rating of "Moderate Buy" and a consensus 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.