Marathon Trading Investment Management LLC Takes $1.18 Million Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Marathon Trading Investment Management LLC acquired a new stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 20,586 shares of the semiconductor company's stock, valued at approximately $1,181,000.

Other hedge funds have also added to or reduced their stakes in the company. Van ECK Associates Corp lifted its holdings 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 worth $636,184,000 after purchasing an additional 3,131,807 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of 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. Franklin Resources Inc. raised its holdings in shares of Microchip Technology by 30.2% in the third quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company's stock valued at $264,430,000 after purchasing an additional 776,408 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in Microchip Technology by 20.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,751,987 shares of the semiconductor company's stock worth $220,957,000 after purchasing an additional 460,697 shares in the last quarter. Finally, DF Dent & Co. Inc. bought a new position in Microchip Technology in the 3rd quarter valued at $27,744,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Insider Buying and Selling at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 33,272 shares in the company, valued at $2,025,599.36. The trade was a 10.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

MCHP has been the topic of a number of research reports. The Goldman Sachs Group lowered their price target on shares of Microchip Technology from $72.00 to $63.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. TD Cowen upped their price objective on shares of Microchip Technology from $50.00 to $60.00 and gave the company a "hold" rating in a report on Tuesday, March 4th. B. Riley reissued a "buy" rating and set a $75.00 target price (down previously from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Needham & Company LLC raised their price objective on Microchip Technology from $60.00 to $66.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Finally, Piper Sandler reiterated an "overweight" rating and set a $65.00 price target (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Two 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $74.37.

Microchip Technology Stock Up 0.1 %

Microchip Technology stock traded up $0.07 during trading hours on Wednesday, hitting $52.31. 2,772,337 shares of the stock traded hands, compared to its average volume of 9,997,288. Microchip Technology Incorporated has a one year low of $50.21 and a one year high of $100.57. The company has a market cap of $28.14 billion, a PE ratio of 93.31 and a beta of 1.52. The firm's 50-day moving average price is $56.80 and its two-hundred day moving average price is $66.17. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 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, research analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were paid a $0.455 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 3.48%. Microchip Technology's payout ratio is currently 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.