Coppell Advisory Solutions LLC Grows Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Coppell Advisory Solutions LLC increased its stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 30.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,388 shares of the semiconductor company's stock after buying an additional 6,642 shares during the period. Coppell Advisory Solutions LLC's holdings in Microchip Technology were worth $1,622,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Microchip Technology in the 4th quarter worth about $452,627,000. Barrow Hanley Mewhinney & Strauss LLC increased its holdings 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 valued at $306,541,000 after buying an additional 3,912,895 shares during the last quarter. Van ECK Associates Corp raised its stake in 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 valued at $636,184,000 after buying an additional 3,131,807 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Microchip Technology by 90.0% during the 4th quarter. Franklin Resources Inc. now owns 6,360,805 shares of the semiconductor company's stock worth $364,792,000 after buying an additional 3,013,162 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of 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 acquiring an additional 2,829,082 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MCHP shares. KeyCorp dropped their price target on Microchip Technology from $70.00 to $60.00 and set an "overweight" rating on the stock in a research report on Friday, February 7th. The Goldman Sachs Group reduced their price target on shares of Microchip Technology from $72.00 to $63.00 and set a "neutral" rating on the stock in a research report on Friday, January 10th. Needham & Company LLC lifted 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. Mizuho increased their price objective on shares of Microchip Technology from $58.00 to $68.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 4th. Finally, Truist Financial decreased their target price on Microchip Technology from $56.00 to $43.00 and set a "hold" rating for the company in a research note on Monday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Microchip Technology currently has an average rating of "Moderate Buy" and a consensus price target of $69.32.

Microchip Technology Stock Up 2.2 %

Microchip Technology stock opened at $40.29 on Wednesday. Microchip Technology Incorporated has a 52 week low of $34.13 and a 52 week high of $100.57. The stock has a market cap of $21.67 billion, a price-to-earnings ratio of 71.95 and a beta of 1.51. The company's 50-day moving average price is $50.15 and its two-hundred day moving average price is $59.09. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 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 12.62%. On average, analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were paid a dividend of $0.455 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 4.52%. Microchip Technology's dividend payout ratio is currently 325.00%.

Insider Buying and Selling

In related news, CFO James Eric Bjornholt sold 3,724 shares of the 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 sale, the chief financial officer now directly owns 33,272 shares of the company's stock, valued at $2,025,599.36. This represents a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is owned by corporate insiders.

About Microchip Technology

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.

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