Stifel Financial Corp Buys 44,340 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Stifel Financial Corp increased its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 8.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 552,958 shares of the semiconductor company's stock after buying an additional 44,340 shares during the quarter. Stifel Financial Corp owned about 0.10% of Microchip Technology worth $31,712,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MCHP shares. Needham & Company LLC raised their target price on Microchip Technology from $60.00 to $66.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. B. Riley reiterated a "buy" rating and issued a $75.00 target price (down previously from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. TD Cowen upped their price target 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. Stifel Nicolaus dropped their price objective on Microchip Technology from $80.00 to $60.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, Morgan Stanley cut their price objective on Microchip Technology from $71.00 to $58.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. Two 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $69.32.

Microchip Technology Stock Down 0.5 %

Shares of NASDAQ MCHP traded down $0.23 during trading hours on Friday, hitting $46.89. The company had a trading volume of 7,677,163 shares, compared to its average volume of 8,234,723. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. The firm's 50 day moving average is $49.48 and its 200-day moving average is $58.42. Microchip Technology Incorporated has a 1-year low of $34.13 and a 1-year high of $100.57. The stock has a market capitalization of $25.22 billion, a P/E ratio of 83.73 and a beta of 1.51.

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 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology's payout ratio is presently 325.00%.

Insider Buying and Selling at Microchip Technology

In other 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 sale, the chief financial officer now directly owns 33,272 shares of the company's stock, valued at approximately $2,025,599.36. This trade represents a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.10% of the company's stock.

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.