LM Advisors LLC Acquires Shares of 11,351 Microchip Technology Incorporated (NASDAQ:MCHP)

LM Advisors LLC bought a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 11,351 shares of the semiconductor company's stock, valued at approximately $651,000.

A number of other large investors also recently added to or reduced their stakes in the business. Van ECK Associates Corp grew its position in shares of Microchip Technology by 39.3% during the fourth quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company's stock valued at $636,184,000 after purchasing an additional 3,131,807 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Microchip Technology by 9,901.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company's stock valued at $163,886,000 after buying an additional 2,829,082 shares during the last quarter. Madison Investment Advisors LLC purchased a new position in Microchip Technology during the 4th quarter valued at approximately $78,661,000. Franklin Resources Inc. increased its stake in Microchip Technology by 30.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company's stock worth $264,430,000 after acquiring an additional 776,408 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Microchip Technology by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 68,912,345 shares of the semiconductor company's stock worth $3,952,123,000 after acquiring an additional 569,699 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Piper Sandler restated an "overweight" rating and issued a $65.00 price target (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Rosenblatt Securities reiterated a "buy" rating and issued a $70.00 price target on shares of Microchip Technology in a research report on Tuesday, March 4th. Mizuho upped their price objective on Microchip Technology from $58.00 to $68.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. Morgan Stanley cut their price objective on shares of Microchip Technology from $71.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. Finally, KeyCorp dropped 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 note on Friday, February 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.37.

Insiders Place Their Bets

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 transaction of $226,717.12. Following the completion of the sale, the chief financial officer now owns 33,272 shares of the company's stock, 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 document filed with the SEC, which is available through this hyperlink. 2.10% of the stock is owned by insiders.

Microchip Technology Stock Down 2.0 %

Shares of NASDAQ:MCHP traded down $0.99 during trading hours on Monday, hitting $47.71. The company's stock had a trading volume of 2,923,570 shares, compared to its average volume of 7,338,703. The firm's fifty day moving average price is $55.65 and its 200 day moving average price is $63.80. Microchip Technology Incorporated has a 52 week low of $47.43 and a 52 week high of $100.57. The company has a market capitalization of $25.66 billion, a price-to-earnings ratio of 85.19 and a beta of 1.52. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23.

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

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date was Monday, February 24th. Microchip Technology's dividend payout ratio (DPR) is presently 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.