Microchip Technology Incorporated (NASDAQ:MCHP) Shares Purchased by Schroder Investment Management Group

Schroder Investment Management Group raised its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 7.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 621,164 shares of the semiconductor company's stock after acquiring an additional 41,077 shares during the quarter. Schroder Investment Management Group owned approximately 0.12% of Microchip Technology worth $35,481,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pallas Capital Advisors LLC purchased a new stake in shares of Microchip Technology during the 4th quarter worth $5,917,000. Consolidated Planning Corp acquired a new position in shares of Microchip Technology during the 4th quarter worth about $308,000. Quadrature Capital Ltd purchased a new position in shares of Microchip Technology in the 3rd quarter valued at about $3,312,000. one8zero8 LLC acquired a new stake in shares of Microchip Technology during the 4th quarter worth about $384,000. Finally, Symphony Financial Ltd. Co. purchased a new stake in Microchip Technology during the fourth quarter worth approximately $520,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MCHP. StockNews.com cut shares of Microchip Technology from a "hold" rating to a "sell" rating in a report on Monday, February 10th. Raymond James reiterated a "strong-buy" rating and set a $60.00 price target (down from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. Rosenblatt Securities restated a "buy" rating and issued a $70.00 price objective on shares of Microchip Technology in a research note on Tuesday, March 4th. Bank of America cut Microchip Technology from a "neutral" rating to an "underperform" rating and cut their target price for the stock from $80.00 to $65.00 in a research report on Monday, December 16th. Finally, Evercore ISI upped their target price on Microchip Technology from $65.00 to $71.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $74.37.

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Insiders Place Their Bets

In other news, CFO James Eric Bjornholt sold 3,724 shares of the company's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the transaction, the chief financial officer now directly owns 33,272 shares of the company's stock, valued at $2,025,599.36. This represents a 10.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.10% of the stock is currently owned by company insiders.

Microchip Technology Stock Performance

Shares of MCHP stock traded down $4.49 during mid-day trading on Friday, hitting $36.22. The stock had a trading volume of 26,402,713 shares, compared to its average volume of 7,622,366. The firm has a market cap of $19.48 billion, a PE ratio of 64.68 and a beta of 1.51. The company's 50-day simple moving average is $54.29 and its 200-day simple moving average is $62.67. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. Microchip Technology Incorporated has a fifty-two week low of $36.10 and a fifty-two week high of $100.57.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. Sell-side analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date was Monday, February 24th. Microchip Technology's dividend payout ratio is presently 325.00%.

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.