Microchip Technology Incorporated (NASDAQ:MCHP) Shares Acquired by Disciplined Growth Investors Inc. MN

Disciplined Growth Investors Inc. MN grew its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 4.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,819,855 shares of the semiconductor company's stock after purchasing an additional 79,473 shares during the period. Microchip Technology makes up about 2.8% of Disciplined Growth Investors Inc. MN's holdings, making the stock its 13th largest holding. Disciplined Growth Investors Inc. MN owned about 0.34% of Microchip Technology worth $146,116,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new position in Microchip Technology during the 3rd quarter worth about $29,000. Peterson Financial Group Inc. purchased a new stake in Microchip Technology during the 3rd quarter worth approximately $34,000. Truvestments Capital LLC acquired a new stake in Microchip Technology during the 3rd quarter worth approximately $34,000. Wolff Wiese Magana LLC boosted its position in Microchip Technology by 55.2% in the 3rd quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company's stock valued at $49,000 after buying an additional 218 shares during the period. Finally, TruNorth Capital Management LLC acquired a new position in shares of Microchip Technology in the second quarter worth $55,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Stock Performance

Shares of MCHP stock traded up $2.58 during midday trading on Tuesday, hitting $61.87. The company had a trading volume of 8,594,745 shares, compared to its average volume of 6,187,195. Microchip Technology Incorporated has a 52-week low of $57.96 and a 52-week high of $100.57. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. The company's 50 day simple moving average is $71.80 and its 200 day simple moving average is $80.83. The stock has a market cap of $33.22 billion, a price-to-earnings ratio of 43.27 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.03. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the firm earned $1.54 EPS. Microchip Technology's quarterly revenue was down 48.4% on a year-over-year basis. Research analysts anticipate that Microchip Technology Incorporated will post 1.33 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend was Friday, November 22nd. This is a positive change from Microchip Technology's previous quarterly dividend of $0.45. Microchip Technology's dividend payout ratio is currently 127.27%.

Analysts Set New Price Targets

Several research firms recently commented on MCHP. Jefferies Financial Group lowered their target price on Microchip Technology from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. StockNews.com lowered shares of Microchip Technology from a "hold" rating to a "sell" rating in a research note on Thursday, November 7th. KeyCorp lowered their price target on shares of Microchip Technology from $95.00 to $90.00 and set an "overweight" rating for the company in a report on Tuesday, December 3rd. Stifel Nicolaus reduced their price objective on shares of Microchip Technology from $90.00 to $87.00 and set a "buy" rating on the stock in a report on Tuesday, December 3rd. Finally, Needham & Company LLC reiterated a "buy" rating and set a $85.00 target price on shares of Microchip Technology in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $90.95.

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.