Segall Bryant & Hamill LLC Boosts Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Segall Bryant & Hamill LLC lifted its stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 66.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 184,748 shares of the semiconductor company's stock after buying an additional 73,816 shares during the quarter. Segall Bryant & Hamill LLC's holdings in Microchip Technology were worth $14,833,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Microchip Technology by 2,390.5% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,291,290 shares of the semiconductor company's stock worth $209,653,000 after buying an additional 2,199,290 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Microchip Technology by 25.1% during the 3rd quarter. Van ECK Associates Corp now owns 7,961,200 shares of the semiconductor company's stock worth $599,239,000 after buying an additional 1,597,263 shares during the period. Canada Pension Plan Investment Board raised its position in Microchip Technology by 425.3% during the first quarter. Canada Pension Plan Investment Board now owns 1,377,099 shares of the semiconductor company's stock worth $123,540,000 after acquiring an additional 1,114,962 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Microchip Technology by 78.3% during the second quarter. The Manufacturers Life Insurance Company now owns 2,189,390 shares of the semiconductor company's stock valued at $200,329,000 after purchasing an additional 961,801 shares in the last quarter. Finally, Boston Partners grew its position in shares of Microchip Technology by 10.7% in the first quarter. Boston Partners now owns 7,591,471 shares of the semiconductor company's stock valued at $681,838,000 after purchasing an additional 736,818 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MCHP shares. Mizuho set a $95.00 price target on Microchip Technology in a research note on Friday, October 18th. B. Riley decreased their price target on shares of Microchip Technology from $110.00 to $103.00 and set a "buy" rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. dropped their price objective on shares of Microchip Technology from $110.00 to $100.00 and set an "overweight" rating for the company in a research note on Friday, August 2nd. Rosenblatt Securities reissued a "buy" rating and issued a $90.00 target price on shares of Microchip Technology in a research note on Wednesday, November 6th. Finally, Bank of America cut Microchip Technology from a "buy" rating to a "neutral" rating and cut their price target for the company from $110.00 to $90.00 in a report on Friday, August 2nd. One research 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. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $92.00.

Insider Activity

In other news, CFO James Eric Bjornholt sold 2,154 shares of the firm's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $81.50, for a total value of $175,551.00. Following the completion of the transaction, the chief financial officer now owns 33,257 shares in the company, valued at $2,710,445.50. This trade represents a 6.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.10% of the company's stock.

Microchip Technology Trading Up 0.4 %

Shares of MCHP stock opened at $65.12 on Thursday. The company has a market capitalization of $34.97 billion, a P/E ratio of 45.54 and a beta of 1.53. 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 Incorporated has a twelve month low of $62.63 and a twelve month high of $100.57. The business's 50 day moving average is $75.00 and its two-hundred day moving average is $83.54.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (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 14.22% and a return on equity of 19.47%. The firm's revenue for the quarter was down 48.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.54 earnings per share. Equities analysts forecast that Microchip Technology Incorporated will post 1.38 EPS for the current year.

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.455 per share. The ex-dividend date of this dividend is Friday, November 22nd. This is a boost 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 2.79%. Microchip Technology's dividend payout ratio is 127.27%.

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.