Microchip Technology Incorporated (NASDAQ:MCHP) Holdings Increased by Cibc World Markets Corp

Cibc World Markets Corp lifted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 14.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,623 shares of the semiconductor company's stock after acquiring an additional 12,066 shares during the period. Cibc World Markets Corp's holdings in Microchip Technology were worth $5,541,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Mainstream Capital Management LLC acquired a new stake in shares of Microchip Technology in the fourth quarter worth $26,000. Rakuten Securities Inc. increased its position in shares of Microchip Technology by 309.5% in the fourth 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. Prospera Private Wealth LLC acquired a new stake in shares of Microchip Technology in the third quarter worth $29,000. OFI Invest Asset Management acquired a new stake in shares of Microchip Technology in the fourth quarter worth $29,000. Finally, Financial Life Planners acquired a new stake in shares of Microchip Technology in the fourth quarter worth $32,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MCHP. Stifel Nicolaus lowered their price target on shares of Microchip Technology from $90.00 to $87.00 and set a "buy" rating for the company in a report on Tuesday, December 3rd. Piper Sandler reaffirmed an "overweight" rating and set a $65.00 price target (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. StockNews.com lowered shares of Microchip Technology from a "hold" rating to a "sell" rating in a report on Monday, February 10th. Rosenblatt Securities reaffirmed a "buy" rating and set a $70.00 price target on shares of Microchip Technology in a report on Tuesday, March 4th. Finally, Needham & Company LLC raised 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. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $74.37.

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Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the sale, the chief financial officer now directly owns 33,272 shares in the company, valued at $2,025,599.36. This trade represents a 10.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.10% of the stock is currently owned by insiders.

Microchip Technology Stock Performance

Shares of Microchip Technology stock traded up $0.72 during trading hours on Friday, reaching $51.72. The company's stock had a trading volume of 29,769,902 shares, compared to its average volume of 7,015,224. The company's 50 day simple moving average is $56.17 and its 200 day simple moving average is $64.74. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. Microchip Technology Incorporated has a one year low of $49.92 and a one year high of $100.57. The stock has a market cap of $27.82 billion, a P/E ratio of 92.36 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted 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 return on equity of 12.62% and a net margin of 6.49%. As a group, analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were given a $0.455 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.52%. Microchip Technology's dividend payout ratio is presently 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.