Microchip Technology Incorporated (NASDAQ:MCHP) Shares Acquired by Villere ST Denis J & Co. LLC

Villere ST Denis J & Co. LLC boosted its stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 10.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 365,973 shares of the semiconductor company's stock after purchasing an additional 33,334 shares during the period. Villere ST Denis J & Co. LLC owned about 0.07% of Microchip Technology worth $20,989,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. WASHINGTON TRUST Co grew its stake in shares of Microchip Technology by 3.5% in the fourth quarter. WASHINGTON TRUST Co now owns 12,094 shares of the semiconductor company's stock worth $694,000 after acquiring an additional 409 shares in the last quarter. V Square Quantitative Management LLC grew its stake in shares of Microchip Technology by 30.9% in the fourth quarter. V Square Quantitative Management LLC now owns 5,145 shares of the semiconductor company's stock worth $295,000 after acquiring an additional 1,215 shares in the last quarter. Vontobel Holding Ltd. grew its stake in shares of Microchip Technology by 1.4% in the fourth quarter. Vontobel Holding Ltd. now owns 68,510 shares of the semiconductor company's stock worth $3,929,000 after acquiring an additional 978 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Microchip Technology by 2.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 210,669 shares of the semiconductor company's stock worth $12,290,000 after acquiring an additional 4,309 shares in the last quarter. Finally, Howard Bailey Securities LLC grew its stake in shares of Microchip Technology by 31.4% in the fourth quarter. Howard Bailey Securities LLC now owns 4,816 shares of the semiconductor company's stock worth $276,000 after acquiring an additional 1,152 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Microchip Technology Stock Performance

Shares of NASDAQ:MCHP traded up $5.73 on Wednesday, reaching $63.59. The company's stock had a trading volume of 20,919,762 shares, compared to its average volume of 9,388,750. The stock's 50-day moving average is $56.58 and its two-hundred day moving average is $68.22. Microchip Technology Incorporated has a 52-week low of $50.21 and a 52-week high of $100.57. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The stock has a market capitalization of $34.20 billion, a P/E ratio of 113.55 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced 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 net margin of 6.49% and a return on equity of 12.62%. As a group, sell-side analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current 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 issued a $0.455 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.86%. Microchip Technology's payout ratio is 325.00%.

Analysts Set New Price Targets

MCHP has been the subject of several research reports. Stifel Nicolaus dropped their price target on shares of Microchip Technology from $90.00 to $87.00 and set a "buy" rating for the company in a research note on Tuesday, December 3rd. Citigroup decreased their price objective on shares of Microchip Technology from $92.00 to $82.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. Mizuho decreased their price objective on shares of Microchip Technology from $85.00 to $72.00 and set an "outperform" rating for the company in a research report on Friday, January 10th. TD Cowen decreased their price objective on shares of Microchip Technology from $80.00 to $70.00 and set a "hold" rating for the company in a research report on Wednesday, November 6th. Finally, Bank of America cut shares of Microchip Technology from a "neutral" rating to an "underperform" rating and decreased their price objective for the stock from $80.00 to $65.00 in a research report on Monday, December 16th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $77.11.

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.