Stephens Investment Management Group LLC Increases Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Stephens Investment Management Group LLC grew its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 31.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 685,455 shares of the semiconductor company's stock after purchasing an additional 164,254 shares during the period. Stephens Investment Management Group LLC owned approximately 0.13% of Microchip Technology worth $39,311,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of MCHP. Assenagon Asset Management S.A. lifted its stake in shares of Microchip Technology by 9,901.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company's stock valued at $163,886,000 after purchasing an additional 2,829,082 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Microchip Technology by 25.1% in the 3rd 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 last quarter. Franklin Resources Inc. lifted its stake in shares of Microchip Technology by 30.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company's stock valued at $264,430,000 after purchasing an additional 776,408 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Microchip Technology by 20.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,751,987 shares of the semiconductor company's stock valued at $220,957,000 after purchasing an additional 460,697 shares during the last quarter. Finally, DF Dent & Co. Inc. acquired a new position in shares of Microchip Technology in the 3rd quarter valued at $27,744,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. KeyCorp decreased their price target on Microchip Technology from $70.00 to $60.00 and set an "overweight" rating on the stock in a research note on Friday, February 7th. Piper Sandler reissued an "overweight" rating and set a $65.00 target price (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. TD Cowen decreased their target price on Microchip Technology from $80.00 to $70.00 and set a "hold" rating on the stock in a research note on Wednesday, November 6th. Stifel Nicolaus decreased their target price on Microchip Technology from $90.00 to $87.00 and set a "buy" rating on the stock in a research note on Tuesday, December 3rd. Finally, Morgan Stanley decreased their target price on Microchip Technology from $71.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Two investment 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, Microchip Technology has a consensus rating of "Moderate Buy" and a consensus price target of $77.11.

Microchip Technology Stock Up 2.4 %

Shares of NASDAQ MCHP traded up $1.27 during midday trading on Wednesday, hitting $53.85. 8,082,562 shares of the company's stock were exchanged, compared to its average volume of 9,081,566. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. Microchip Technology Incorporated has a twelve month low of $50.21 and a twelve month high of $100.57. The company has a market cap of $28.96 billion, a PE ratio of 96.16 and a beta of 1.50. The firm's fifty day simple moving average is $57.09 and its 200-day simple moving average is $69.25.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its earnings results 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 12.41% and a net margin of 6.49%. Research analysts predict that Microchip Technology Incorporated will post 1.3 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Monday, February 24th. Microchip Technology's dividend payout ratio (DPR) is presently 325.00%.

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.