Microchip Technology Incorporated (NASDAQ:MCHP) Position Increased by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P increased its stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 16.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,405 shares of the semiconductor company's stock after purchasing an additional 13,307 shares during the quarter. Loomis Sayles & Co. L P's holdings in Microchip Technology were worth $5,529,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

MCHP has been the topic of a number of analyst reports. B. Riley reiterated a "buy" rating and set a $75.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. TD Cowen lifted their target price on Microchip Technology from $50.00 to $60.00 and gave the stock a "hold" rating in a research report on Tuesday, March 4th. Piper Sandler reiterated an "overweight" rating and issued a $65.00 price target (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Evercore ISI raised 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. Finally, StockNews.com lowered shares of Microchip Technology from a "hold" rating to a "sell" rating in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $74.37.

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Insider Transactions at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total transaction of $226,717.12. Following the transaction, the chief financial officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.10% of the company's stock.

Microchip Technology Stock Performance

NASDAQ:MCHP traded down $6.93 during midday trading on Thursday, reaching $42.00. 4,893,890 shares of the company traded hands, compared to its average volume of 7,412,472. Microchip Technology Incorporated has a twelve month low of $41.72 and a twelve month high of $100.57. 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 company has a fifty day moving average price of $55.07 and a 200 day moving average price of $63.30. The firm has a market capitalization of $22.59 billion, a price-to-earnings ratio of 75.00 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate 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, analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were issued a dividend of $0.455 per share. 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 4.33%. Microchip Technology's dividend payout ratio (DPR) is presently 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.