25,022 Shares in Microchip Technology Incorporated (NASDAQ:MCHP) Bought by Semanteon Capital Management LP

Semanteon Capital Management LP acquired a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 25,022 shares of the semiconductor company's stock, valued at approximately $1,435,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Microchip Technology by 2.1% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 17,689 shares of the semiconductor company's stock worth $1,014,000 after purchasing an additional 362 shares in the last quarter. Blueshift Asset Management LLC bought a new stake in Microchip Technology during the fourth quarter valued at approximately $209,000. iA Global Asset Management Inc. grew its stake in Microchip Technology by 5.8% in the 4th quarter. iA Global Asset Management Inc. now owns 57,881 shares of the semiconductor company's stock worth $3,319,000 after buying an additional 3,191 shares in the last quarter. Teacher Retirement System of Texas grew its stake in Microchip Technology by 781.0% in the 4th quarter. Teacher Retirement System of Texas now owns 31,646 shares of the semiconductor company's stock worth $1,815,000 after buying an additional 28,054 shares in the last quarter. Finally, Sandy Spring Bank increased its holdings in shares of Microchip Technology by 1.4% in the 4th quarter. Sandy Spring Bank now owns 117,002 shares of the semiconductor company's stock worth $6,710,000 after buying an additional 1,643 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

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Microchip Technology Trading Down 2.8 %

Shares of Microchip Technology stock traded down $1.53 during trading on Tuesday, reaching $52.36. 8,676,307 shares of the stock were exchanged, compared to its average volume of 7,028,902. 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 cap of $28.16 billion, a price-to-earnings ratio of 93.50 and a beta of 1.52. Microchip Technology Incorporated has a 1 year low of $49.92 and a 1 year high of $100.57. The stock's fifty day moving average is $56.13 and its 200 day moving average is $64.49.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. As a group, equities research analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology's payout ratio is currently 325.00%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

MCHP has been the subject of a number of research analyst reports. KeyCorp dropped their price objective on shares of Microchip Technology from $70.00 to $60.00 and set an "overweight" rating for the company in a report on Friday, February 7th. Stifel Nicolaus cut their price objective on Microchip Technology from $90.00 to $87.00 and set a "buy" rating for the company in a report on Tuesday, December 3rd. Rosenblatt Securities reiterated a "buy" rating and set a $70.00 price objective on shares of Microchip Technology in a research report on Tuesday, March 4th. TD Cowen boosted their target price on Microchip Technology from $50.00 to $60.00 and gave the stock a "hold" rating in a research report on Tuesday, March 4th. Finally, Evercore ISI upped their target price on Microchip Technology from $65.00 to $71.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target 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.