Microchip Technology Incorporated (NASDAQ:MCHP) Stock Position Raised by Invesco Ltd.

Invesco Ltd. raised its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 9.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,247,908 shares of the semiconductor company's stock after purchasing an additional 890,819 shares during the quarter. Invesco Ltd. owned 1.91% of Microchip Technology worth $587,718,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Federated Hermes Inc. lifted its position in Microchip Technology by 0.5% during the fourth quarter. Federated Hermes Inc. now owns 39,298 shares of the semiconductor company's stock valued at $2,254,000 after buying an additional 209 shares in the last quarter. Coldstream Capital Management Inc. lifted 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 acquiring an additional 260 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings in Microchip Technology by 1.8% in the third quarter. EP Wealth Advisors LLC now owns 14,725 shares of the semiconductor company's stock valued at $1,182,000 after purchasing an additional 264 shares during the last quarter. Lebenthal Global Advisors LLC grew 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 in the last quarter. Finally, Elmwood Wealth Management Inc. increased 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 purchasing an additional 300 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of the firm's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. KeyCorp decreased their price target 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. Citigroup reduced their target price on Microchip Technology from $65.00 to $50.00 and set a "buy" rating on the stock in a report on Friday. Piper Sandler reiterated an "overweight" rating and issued a $65.00 price target (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Needham & Company LLC upped their price target on Microchip Technology from $60.00 to $66.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $70.00 price objective on shares of Microchip Technology in a report on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $72.68.

Microchip Technology Stock Performance

Shares of NASDAQ:MCHP traded down $0.10 on Friday, hitting $38.71. The company's stock had a trading volume of 20,658,618 shares, compared to its average volume of 7,994,266. The company has a market capitalization of $20.82 billion, a price-to-earnings ratio of 69.13 and a beta of 1.51. 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 12 month low of $34.13 and a 12 month high of $100.57. The stock's 50-day moving average is $52.13 and its two-hundred day moving average is $60.90.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced 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%. On average, equities research analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were given a $0.455 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a yield of 4.70%. Microchip Technology's dividend payout ratio (DPR) is 325.00%.

Microchip Technology Company 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.