FIL Ltd Has $451.77 Million Position in Microchip Technology Incorporated (NASDAQ:MCHP)

FIL Ltd lifted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 9.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,877,482 shares of the semiconductor company's stock after acquiring an additional 653,705 shares during the quarter. FIL Ltd owned about 1.47% of Microchip Technology worth $451,774,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in MCHP. Federated Hermes Inc. lifted its position in Microchip Technology by 0.5% during the 4th quarter. Federated Hermes Inc. now owns 39,298 shares of the semiconductor company's stock worth $2,254,000 after acquiring an additional 209 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in shares of Microchip Technology by 2.4% in the third quarter. Coldstream Capital Management Inc. now owns 11,052 shares of the semiconductor company's stock worth $878,000 after purchasing an additional 260 shares during the period. EP Wealth Advisors LLC lifted its position in shares of Microchip Technology by 1.8% during the 3rd quarter. EP Wealth Advisors LLC now owns 14,725 shares of the semiconductor company's stock worth $1,182,000 after purchasing an additional 264 shares during the last quarter. Lebenthal Global Advisors LLC boosted its stake in 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 purchasing an additional 266 shares during the period. Finally, Elmwood Wealth Management Inc. grew 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 buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

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Analyst Ratings Changes

Several equities research analysts have recently weighed in on MCHP shares. Morgan Stanley reduced their price objective on Microchip Technology from $71.00 to $58.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. Raymond James reissued a "strong-buy" rating and issued a $60.00 price target (down from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. Citigroup dropped their price objective on shares of Microchip Technology from $65.00 to $50.00 and set a "buy" rating on the stock in a report on Friday. Evercore ISI upped their price objective on shares of Microchip Technology from $65.00 to $71.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. Finally, The Goldman Sachs Group decreased their target price on Microchip Technology from $72.00 to $63.00 and set a "neutral" rating on the stock in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $72.68.

Insider Transactions at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of the business's stock in a transaction on Tuesday, February 25th. The stock was 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 owns 33,272 shares in the company, valued at $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.10% of the stock is owned by company insiders.

Microchip Technology Price Performance

Shares of NASDAQ MCHP traded down $0.10 during mid-day trading on Friday, hitting $38.71. 20,658,618 shares of the stock were exchanged, compared to its average volume of 7,994,266. Microchip Technology Incorporated has a twelve month low of $34.13 and a twelve month high of $100.57. The stock's fifty day simple moving average is $52.13 and its two-hundred day simple moving average is $60.90. 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 company has a market cap of $20.82 billion, a P/E ratio of 69.13 and a beta of 1.51.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share 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, analysts forecast 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. Shareholders of record on Monday, February 24th were paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology's dividend payout ratio is presently 325.00%.

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.