Fiduciary Management Inc. WI Invests $119.43 Million in Microchip Technology Incorporated (NASDAQ:MCHP)

Fiduciary Management Inc. WI bought a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 2,082,492 shares of the semiconductor company's stock, valued at approximately $119,431,000. Fiduciary Management Inc. WI owned 0.39% of Microchip Technology as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Federated Hermes Inc. grew its stake in Microchip Technology by 0.5% during the fourth quarter. Federated Hermes Inc. now owns 39,298 shares of the semiconductor company's stock worth $2,254,000 after buying an additional 209 shares during the period. Lebenthal Global Advisors LLC lifted its holdings in shares of Microchip Technology by 7.3% during the 4th quarter. Lebenthal Global Advisors LLC now owns 3,894 shares of the semiconductor company's stock valued at $223,000 after acquiring an additional 266 shares in the last quarter. CreativeOne Wealth LLC boosted its position in Microchip Technology by 1.0% during the 4th quarter. CreativeOne Wealth LLC now owns 28,842 shares of the semiconductor company's stock worth $1,654,000 after purchasing an additional 283 shares during the period. Elmwood Wealth Management Inc. increased its holdings in Microchip Technology by 1.5% in the 4th quarter. Elmwood Wealth Management Inc. now owns 20,558 shares of the semiconductor company's stock valued at $1,179,000 after purchasing an additional 300 shares in the last quarter. Finally, Legacy Financial Advisors Inc. raised its position in Microchip Technology by 8.1% in the fourth quarter. Legacy Financial Advisors Inc. now owns 4,176 shares of the semiconductor company's stock valued at $239,000 after purchasing an additional 312 shares during the period. Institutional investors and hedge funds own 91.51% of the company's stock.

Microchip Technology Stock Performance

Shares of Microchip Technology stock traded up $5.19 during trading hours on Thursday, reaching $47.12. The company's stock had a trading volume of 12,219,425 shares, compared to its average volume of 8,183,491. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $100.57. The company's 50 day simple moving average is $49.88 and its 200 day simple moving average is $58.97. 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 $25.34 billion, a P/E ratio of 84.41 and a beta of 1.51.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued 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 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 business also recently disclosed 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 dividend on an annualized basis and a yield of 3.86%. Microchip Technology's payout ratio is currently 325.00%.

Analysts Set New Price Targets

MCHP has been the subject of a number of recent research reports. Morgan Stanley lowered their target price on 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. Needham & Company LLC increased their price objective on shares of Microchip Technology from $60.00 to $66.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. B. Riley reiterated a "buy" rating and set a $75.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Stifel Nicolaus decreased their target price on shares of Microchip Technology from $80.00 to $60.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Finally, StockNews.com downgraded shares of Microchip Technology from a "hold" rating to a "sell" rating in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $69.32.

Insider Buying and Selling

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the company's 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 completion of the transaction, the chief financial officer now owns 33,272 shares in the company, valued at approximately $2,025,599.36. This represents a 10.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.10% of the stock is owned by company 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.