Ilmarinen Mutual Pension Insurance Co Makes New Investment in Microchip Technology Incorporated (NASDAQ:MCHP)

Ilmarinen Mutual Pension Insurance Co bought a new position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 120,000 shares of the semiconductor company's stock, valued at approximately $6,882,000.

Other large investors have also added to or reduced their stakes in the company. Coldstream Capital Management Inc. raised 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 last quarter. EP Wealth Advisors LLC raised its position in Microchip Technology by 1.8% in the 3rd quarter. EP Wealth Advisors LLC now owns 14,725 shares of the semiconductor company's stock valued at $1,182,000 after buying an additional 264 shares during the last quarter. Lebenthal Global Advisors LLC lifted 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 acquiring an additional 266 shares in the last quarter. Elmwood Wealth Management Inc. boosted its holdings in Microchip Technology by 1.5% during the 4th quarter. Elmwood Wealth Management Inc. now owns 20,558 shares of the semiconductor company's stock worth $1,179,000 after acquiring an additional 300 shares during the last quarter. Finally, Perennial Investment Advisors LLC raised its holdings in shares of Microchip Technology by 6.5% in the fourth quarter. Perennial Investment Advisors LLC now owns 5,231 shares of the semiconductor company's stock valued at $300,000 after purchasing an additional 317 shares during the last quarter. Institutional investors own 91.51% of the company's stock.

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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 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 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 at this link. 2.10% of the stock is currently owned by company insiders.

Microchip Technology Price Performance

NASDAQ:MCHP traded down $0.88 during mid-day trading on Friday, reaching $37.93. The stock had a trading volume of 9,955,715 shares, compared to its average volume of 7,928,063. The stock has a market capitalization of $20.40 billion, a P/E ratio of 67.75 and a beta of 1.51. The firm has a 50 day moving average price of $52.41 and a two-hundred day moving average price of $61.29. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $100.57.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced 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 net margin of 6.49% and a return on equity of 12.62%. As a group, analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 4.80%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology's dividend payout ratio (DPR) is 325.00%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Mizuho boosted their price target on shares of Microchip Technology from $58.00 to $68.00 and gave the stock an "outperform" rating in a report on Tuesday, March 4th. The Goldman Sachs Group dropped their price target on Microchip Technology from $72.00 to $63.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. Evercore ISI upped their price objective on Microchip Technology from $65.00 to $71.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. Bank of America lowered Microchip Technology from a "neutral" rating to an "underperform" rating and decreased their target price for the company from $80.00 to $65.00 in a research report on Monday, December 16th. Finally, StockNews.com downgraded shares of Microchip Technology from a "hold" rating to a "sell" rating in a report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.37.

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.