100,025 Shares in Microchip Technology Incorporated (NASDAQ:MCHP) Purchased by Reinhart Partners LLC.

Reinhart Partners LLC. purchased a new position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 100,025 shares of the semiconductor company's stock, valued at approximately $5,736,000.

Several other institutional investors also recently modified their holdings of MCHP. Matrix Trust Co raised its position in shares of Microchip Technology by 815.9% during the fourth quarter. Matrix Trust Co now owns 1,667 shares of the semiconductor company's stock worth $96,000 after purchasing an additional 1,485 shares during the period. Czech National Bank increased its stake in Microchip Technology by 6.5% in the 4th quarter. Czech National Bank now owns 116,435 shares of the semiconductor company's stock worth $6,678,000 after purchasing an additional 7,144 shares in the last quarter. West Oak Capital LLC raised its holdings in Microchip Technology by 406.3% during the 4th quarter. West Oak Capital LLC now owns 2,025 shares of the semiconductor company's stock worth $116,000 after buying an additional 1,625 shares during the period. Franklin Street Advisors Inc. NC lifted its stake in Microchip Technology by 70.9% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 7,192 shares of the semiconductor company's stock valued at $412,000 after buying an additional 2,983 shares in the last quarter. Finally, Ridgewood Investments LLC boosted its holdings in shares of Microchip Technology by 238.4% in the fourth quarter. Ridgewood Investments LLC now owns 19,086 shares of the semiconductor company's stock worth $1,095,000 after buying an additional 13,446 shares during the period. Institutional investors own 91.51% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MCHP shares. StockNews.com upgraded shares of Microchip Technology from a "sell" rating to a "hold" rating in a research report on Friday, December 13th. Stifel Nicolaus reduced their target price on Microchip Technology from $90.00 to $87.00 and set a "buy" rating for the company in a report on Tuesday, December 3rd. Bank of America downgraded Microchip Technology from a "neutral" rating to an "underperform" rating and lowered their price target for the company from $80.00 to $65.00 in a report on Monday, December 16th. Jefferies Financial Group reduced their price objective 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. Finally, Mizuho lowered their target price on Microchip Technology from $85.00 to $72.00 and set an "outperform" rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $87.11.

Microchip Technology Stock Up 1.3 %

NASDAQ MCHP traded up $0.72 during trading on Monday, hitting $55.91. 6,654,747 shares of the company traded hands, compared to its average volume of 7,612,277. The company has a market capitalization of $30.02 billion, a P/E ratio of 39.10 and a beta of 1.52. The business has a fifty day simple moving average of $62.47 and a 200 day simple moving average of $74.56. Microchip Technology Incorporated has a 12 month low of $54.47 and a 12 month high of $100.57. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71.

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

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a $0.455 dividend. The ex-dividend date was Friday, November 22nd. This is a positive change from Microchip Technology's previous quarterly dividend of $0.45. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.26%. Microchip Technology's payout ratio is presently 127.27%.

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.