Thompson Investment Management Inc. Acquires 80,696 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Thompson Investment Management Inc. boosted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 3,762.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 82,841 shares of the semiconductor company's stock after acquiring an additional 80,696 shares during the quarter. Thompson Investment Management Inc.'s holdings in Microchip Technology were worth $4,751,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brookstone Capital Management boosted its stake in shares of Microchip Technology by 3.1% during the third quarter. Brookstone Capital Management now owns 7,410 shares of the semiconductor company's stock valued at $595,000 after purchasing an additional 224 shares during the period. CWM LLC boosted its stake in Microchip Technology by 1.2% during the third quarter. CWM LLC now owns 32,955 shares of the semiconductor company's stock worth $2,646,000 after acquiring an additional 403 shares in the last quarter. Watts Gwilliam & Co. LLC bought a new position in Microchip Technology during the 3rd quarter valued at approximately $592,000. First Affirmative Financial Network purchased a new position in shares of Microchip Technology in the 3rd quarter worth about $359,000. Finally, Octavia Wealth Advisors LLC purchased a new position in Microchip Technology in the third quarter worth about $201,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Microchip Technology Price Performance

Shares of NASDAQ:MCHP traded up $1.27 on Wednesday, reaching $53.85. 8,082,562 shares of the company were exchanged, compared to its average volume of 9,081,566. The company has a 50-day moving average of $57.09 and a 200-day moving average of $69.25. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71. The firm has a market cap of $28.96 billion, a price-to-earnings ratio of 96.16 and a beta of 1.50. Microchip Technology Incorporated has a 1-year low of $50.21 and a 1-year high of $100.57.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its earnings results 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 return on equity of 12.41% and a net margin of 6.49%. Equities analysts forecast that Microchip Technology Incorporated will post 1.3 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

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

Wall Street Analysts Forecast Growth

MCHP has been the topic of a number of research analyst reports. Citigroup lowered their price objective on shares of Microchip Technology from $92.00 to $82.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. Rosenblatt Securities restated a "buy" rating and issued a $90.00 price target on shares of Microchip Technology in a research report on Thursday, February 6th. Evercore ISI restated an "outperform" rating and set a $95.00 price objective (down previously from $101.00) on shares of Microchip Technology in a report on Wednesday, November 6th. Needham & Company LLC cut their price target on Microchip Technology from $85.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Finally, Piper Sandler restated an "overweight" rating and issued a $65.00 price target (down previously from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $77.11.

Microchip Technology Company 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.