Boston Partners Decreases Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Boston Partners trimmed its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 18.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,930,763 shares of the semiconductor company's stock after selling 1,753,820 shares during the period. Boston Partners owned 1.48% of Microchip Technology worth $455,102,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Generali Asset Management SPA SGR purchased a new position in Microchip Technology during the fourth quarter valued at $598,000. Advisors Asset Management Inc. lifted its holdings in Microchip Technology by 72.9% during the fourth quarter. Advisors Asset Management Inc. now owns 59,673 shares of the semiconductor company's stock valued at $3,422,000 after purchasing an additional 25,151 shares in the last quarter. RD Lewis Holdings Inc. purchased a new position in Microchip Technology during the fourth quarter valued at $638,000. Cibc World Markets Corp lifted its holdings in Microchip Technology by 14.3% during the fourth quarter. Cibc World Markets Corp now owns 96,623 shares of the semiconductor company's stock valued at $5,541,000 after purchasing an additional 12,066 shares in the last quarter. Finally, Nicholas Company Inc. lifted its holdings in Microchip Technology by 12.3% during the fourth quarter. Nicholas Company Inc. now owns 390,192 shares of the semiconductor company's stock valued at $22,378,000 after purchasing an additional 42,697 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

In other news, CFO James Eric Bjornholt sold 3,724 shares of the firm'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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.10% of the company's stock.

Microchip Technology Trading Up 1.4 %

MCHP stock traded up $0.72 during mid-day trading on Friday, hitting $51.72. 29,769,902 shares of the company were exchanged, compared to its average volume of 7,001,750. 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 has a market capitalization of $27.82 billion, a P/E ratio of 92.36 and a beta of 1.52. The business has a fifty day simple moving average of $56.17 and a 200-day simple moving average of $64.82. Microchip Technology Incorporated has a 12-month low of $49.92 and a 12-month high of $100.57.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 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, equities research analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were paid a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 3.52%. The ex-dividend date was Monday, February 24th. Microchip Technology's payout ratio is 325.00%.

Analysts Set New Price Targets

MCHP has been the topic of several recent analyst reports. KeyCorp decreased their price objective on shares of Microchip Technology from $70.00 to $60.00 and set an "overweight" rating on the stock in a report on Friday, February 7th. StockNews.com downgraded shares of Microchip Technology from a "hold" rating to a "sell" rating in a report on Monday, February 10th. TD Cowen increased their target price on shares of Microchip Technology from $50.00 to $60.00 and gave the company a "hold" rating in a research report on Tuesday, March 4th. Mizuho increased their target price on shares of Microchip Technology from $58.00 to $68.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. Finally, Raymond James reiterated a "strong-buy" rating and issued a $60.00 target price (down from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $74.37.

Microchip Technology 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.