Xponance Inc. Raises Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Xponance Inc. grew its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 12.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 81,519 shares of the semiconductor company's stock after buying an additional 8,707 shares during the period. Xponance Inc.'s holdings in Microchip Technology were worth $4,675,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Pallas Capital Advisors LLC purchased a new position in Microchip Technology in the fourth quarter worth $5,917,000. Consolidated Planning Corp purchased a new position in Microchip Technology during the 4th quarter worth $308,000. Quadrature Capital Ltd acquired a new position in Microchip Technology during the 3rd quarter valued at about $3,312,000. Symphony Financial Ltd. Co. purchased a new stake in Microchip Technology in the fourth quarter valued at about $520,000. Finally, one8zero8 LLC purchased a new stake in Microchip Technology in the fourth quarter valued at about $384,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Microchip Technology Stock Performance

Shares of MCHP traded down $1.53 during trading hours on Tuesday, hitting $52.36. The stock had a trading volume of 8,676,307 shares, compared to its average volume of 7,028,902. The firm has a market capitalization of $28.16 billion, a price-to-earnings ratio of 93.50 and a beta of 1.52. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. The firm has a 50-day moving average price of $56.13 and a 200 day moving average price of $64.49. Microchip Technology Incorporated has a fifty-two week low of $49.92 and a fifty-two week high of $100.57.

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Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates 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, research analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Monday, February 24th. Microchip Technology's dividend payout ratio (DPR) is presently 325.00%.

Insider Transactions at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of the business's 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 completion of the sale, the chief financial officer now owns 33,272 shares of the company's stock, valued at $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.10% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MCHP. B. Riley restated a "buy" rating and set a $75.00 price target (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Mizuho upped their price target on shares of Microchip Technology from $58.00 to $68.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. Bank of America downgraded shares of Microchip Technology from a "neutral" rating to an "underperform" rating and lowered their price objective for the stock from $80.00 to $65.00 in a research note on Monday, December 16th. Needham & Company LLC upped their target price on Microchip Technology from $60.00 to $66.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $70.00 target price on shares of Microchip Technology in a research note on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average 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.