DF Dent & Co. Inc. Has $22.49 Million Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

DF Dent & Co. Inc. raised its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 13.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 392,158 shares of the semiconductor company's stock after buying an additional 46,608 shares during the quarter. DF Dent & Co. Inc. owned about 0.07% of Microchip Technology worth $22,490,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. United Bank boosted its position in Microchip Technology by 21.0% in the 3rd quarter. United Bank now owns 9,871 shares of the semiconductor company's stock valued at $793,000 after buying an additional 1,712 shares during the period. Benjamin Edwards Inc. grew its position in shares of Microchip Technology by 5,185.4% during the third quarter. Benjamin Edwards Inc. now owns 9,408 shares of the semiconductor company's stock worth $755,000 after buying an additional 9,230 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of Microchip Technology by 149.0% during the third quarter. Integrated Wealth Concepts LLC now owns 11,638 shares of the semiconductor company's stock worth $934,000 after buying an additional 6,965 shares during the period. IHT Wealth Management LLC lifted its stake in Microchip Technology by 12.8% in the third quarter. IHT Wealth Management LLC now owns 6,192 shares of the semiconductor company's stock worth $494,000 after acquiring an additional 702 shares during the last quarter. Finally, Menard Financial Group LLC acquired a new position in Microchip Technology during the 3rd quarter worth approximately $286,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

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Microchip Technology Price Performance

Shares of NASDAQ:MCHP traded up $0.14 during midday trading on Tuesday, reaching $38.23. The company's stock had a trading volume of 4,686,207 shares, compared to its average volume of 7,680,825. Microchip Technology Incorporated has a fifty-two week low of $34.13 and a fifty-two week high of $100.57. The business's fifty day simple moving average is $53.90 and its 200-day simple moving average is $62.38. 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 company has a market capitalization of $20.56 billion, a P/E ratio of 68.85 and a beta of 1.51.

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

Microchip Technology Announces Dividend

The business 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. The ex-dividend date was Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 4.76%. Microchip Technology's payout ratio is currently 325.00%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MCHP. StockNews.com downgraded shares of Microchip Technology from a "hold" rating to a "sell" rating in a research note on Monday, February 10th. Needham & Company LLC raised their target price on Microchip Technology from $60.00 to $66.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Rosenblatt Securities restated a "buy" rating and set a $70.00 target price on shares of Microchip Technology in a research note on Tuesday, March 4th. Bank of America lowered shares of Microchip Technology from a "neutral" rating to an "underperform" rating and dropped their price target for the company from $80.00 to $65.00 in a research note on Monday, December 16th. Finally, KeyCorp reduced their price objective on shares of Microchip Technology from $70.00 to $60.00 and set an "overweight" rating for the company in a research report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Microchip Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.37.

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 that occurred 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 sale, the chief financial officer now owns 33,272 shares of the company's stock, valued at approximately $2,025,599.36. This represents a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is currently 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.