36,961 Shares in Microchip Technology Incorporated (NASDAQ:MCHP) Purchased by Headlands Technologies LLC

Headlands Technologies LLC purchased a new position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 36,961 shares of the semiconductor company's stock, valued at approximately $2,120,000.

Other hedge funds have also recently made changes to their positions in the company. Mainstream Capital Management LLC purchased a new position in Microchip Technology in the fourth quarter worth about $26,000. Rakuten Securities Inc. lifted its stake in shares of Microchip Technology by 309.5% in the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company's stock worth $27,000 after purchasing an additional 359 shares during the period. OFI Invest Asset Management purchased a new position in shares of Microchip Technology in the fourth quarter worth approximately $29,000. Financial Life Planners bought a new stake in Microchip Technology during the fourth quarter valued at approximately $32,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in Microchip Technology during the fourth quarter valued at approximately $34,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MCHP. Rosenblatt Securities reissued a "buy" rating and set a $70.00 price objective on shares of Microchip Technology in a research report on Tuesday, March 4th. Mizuho boosted their price target on Microchip Technology from $58.00 to $68.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. Piper Sandler reaffirmed an "overweight" rating and issued a $65.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Evercore ISI lifted their price objective on Microchip Technology from $65.00 to $71.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. Finally, B. Riley reissued a "buy" rating and issued a $75.00 target price (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $74.37.

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Insider Transactions 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 stock was 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 trade represents a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.10% of the company's stock.

Microchip Technology Price Performance

Shares of MCHP stock traded down $4.49 during trading hours on Friday, hitting $36.22. The stock had a trading volume of 26,402,713 shares, compared to its average volume of 7,622,366. 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 stock has a market capitalization of $19.48 billion, a price-to-earnings ratio of 64.68 and a beta of 1.51. Microchip Technology Incorporated has a one year low of $36.10 and a one year high of $100.57. The stock's 50-day moving average price is $54.29 and its two-hundred day moving average price is $62.76.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings data 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%. Equities analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were paid a $0.455 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 5.02%. Microchip Technology's payout ratio is currently 325.00%.

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.