Janus Henderson Group PLC Reduces Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Janus Henderson Group PLC reduced its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 32.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,384,306 shares of the semiconductor company's stock after selling 1,122,219 shares during the quarter. Janus Henderson Group PLC owned about 0.44% of Microchip Technology worth $191,436,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MCHP. Cetera Advisors LLC raised its holdings in Microchip Technology by 294.0% during the 1st quarter. Cetera Advisors LLC now owns 22,416 shares of the semiconductor company's stock worth $2,011,000 after purchasing an additional 16,726 shares during the last quarter. Kingswood Wealth Advisors LLC bought a new stake in shares of Microchip Technology in the 2nd quarter valued at about $243,000. CWM LLC increased its stake in shares of Microchip Technology by 37.2% in the 2nd quarter. CWM LLC now owns 32,552 shares of the semiconductor company's stock valued at $2,979,000 after acquiring an additional 8,828 shares during the last quarter. Valeo Financial Advisors LLC increased its stake in shares of Microchip Technology by 3.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 10,904 shares of the semiconductor company's stock valued at $998,000 after acquiring an additional 323 shares during the last quarter. Finally, Simplicity Wealth LLC grew its position in shares of Microchip Technology by 5.1% in the 2nd quarter. Simplicity Wealth LLC now owns 18,071 shares of the semiconductor company's stock valued at $1,653,000 after purchasing an additional 876 shares during the period. 91.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. StockNews.com lowered Microchip Technology from a "hold" rating to a "sell" rating in a research report on Thursday, November 7th. TD Cowen decreased their price objective on Microchip Technology from $80.00 to $70.00 and set a "hold" rating for the company in a research report on Wednesday, November 6th. Rosenblatt Securities reiterated a "buy" rating and issued a $90.00 price objective on shares of Microchip Technology in a research report on Wednesday, November 6th. Stifel Nicolaus decreased their price objective on Microchip Technology from $90.00 to $87.00 and set a "buy" rating for the company in a research report on Tuesday. Finally, Truist Financial lowered Microchip Technology from a "buy" rating to a "hold" rating and decreased their price objective for the company from $89.00 to $80.00 in a research report on Monday, September 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $90.95.

Microchip Technology Stock Down 5.7 %

Shares of NASDAQ MCHP traded down $3.75 during midday trading on Wednesday, hitting $61.64. 13,621,167 shares of the stock traded hands, compared to its average volume of 6,131,695. The company has a market cap of $33.10 billion, a PE ratio of 43.11 and a beta of 1.50. Microchip Technology Incorporated has a one year low of $61.07 and a one year high of $100.57. The business has a 50 day moving average price of $73.04 and a two-hundred day moving average price of $81.73. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.15 billion. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. Microchip Technology's quarterly revenue was down 48.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.54 earnings per share. On average, equities analysts predict that Microchip Technology Incorporated will post 1.38 EPS for the current year.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be given a $0.455 dividend. The ex-dividend date is Friday, November 22nd. This represents a $1.82 annualized dividend and a yield of 2.95%. This is a boost from Microchip Technology's previous quarterly dividend of $0.45. Microchip Technology's payout ratio is currently 127.27%.

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.