Microchip Technology Incorporated (NASDAQ:MCHP) Shares Bought by Olympiad Research LP

Olympiad Research LP increased its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 277.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,560 shares of the semiconductor company's stock after purchasing an additional 7,027 shares during the quarter. Olympiad Research LP's holdings in Microchip Technology were worth $768,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Microchip Technology by 2.9% in the first quarter. Vanguard Group Inc. now owns 68,583,723 shares of the semiconductor company's stock worth $6,152,646,000 after acquiring an additional 1,921,497 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Microchip Technology by 0.4% in the 2nd quarter. Principal Financial Group Inc. now owns 9,246,403 shares of the semiconductor company's stock valued at $846,046,000 after purchasing an additional 33,603 shares in the last quarter. Van ECK Associates Corp raised its position in Microchip Technology by 25.1% in the third quarter. Van ECK Associates Corp now owns 7,961,200 shares of the semiconductor company's stock valued at $599,239,000 after purchasing an additional 1,597,263 shares during the period. Boston Partners raised its holdings in shares of Microchip Technology by 10.7% during the 1st quarter. Boston Partners now owns 7,591,471 shares of the semiconductor company's stock valued at $681,838,000 after buying an additional 736,818 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Microchip Technology by 17.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,527,709 shares of the semiconductor company's stock worth $406,182,000 after acquiring an additional 673,992 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,154 shares of the firm's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $81.50, for a total transaction of $175,551.00. Following the transaction, the chief financial officer now owns 33,257 shares of the company's stock, valued at approximately $2,710,445.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MCHP shares. B. Riley lowered their price objective on shares of Microchip Technology from $110.00 to $103.00 and set a "buy" rating for the company in a research report on Friday, August 2nd. Susquehanna lowered their price target on shares of Microchip Technology from $95.00 to $90.00 and set a "positive" rating for the company in a report on Wednesday. Jefferies Financial Group cut their price objective on shares of Microchip Technology from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday. StockNews.com raised shares of Microchip Technology from a "sell" rating to a "hold" rating in a research report on Thursday, October 17th. Finally, Mizuho set a $95.00 target price on Microchip Technology in a research report on Friday, October 18th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $92.00.

Microchip Technology Stock Performance

NASDAQ MCHP traded up $0.59 during trading hours on Thursday, hitting $74.34. The company had a trading volume of 7,191,688 shares, compared to its average volume of 5,966,113. Microchip Technology Incorporated has a fifty-two week low of $71.76 and a fifty-two week high of $100.57. The firm has a market cap of $39.88 billion, a P/E ratio of 51.99 and a beta of 1.53. The company has a quick ratio of 1.08, a current ratio of 1.94 and a debt-to-equity ratio of 0.96. The business has a fifty day simple moving average of $77.05 and a 200-day simple moving average of $85.12.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.43 by $0.03. The firm had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.15 billion. Microchip Technology had a net margin of 20.80% and a return on equity of 28.33%. Microchip Technology's quarterly revenue was down 48.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.54 EPS. Equities analysts predict that Microchip Technology Incorporated will post 1.73 EPS for the current year.

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.45%. This is a positive change from Microchip Technology's previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, November 22nd. Microchip Technology's dividend payout ratio (DPR) is 126.57%.

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.