Y Intercept Hong Kong Ltd Makes New $2.99 Million Investment in Microchip Technology Incorporated (NASDAQ:MCHP)

Y Intercept Hong Kong Ltd bought a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 52,198 shares of the semiconductor company’s stock, valued at approximately $2,994,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. South Dakota Investment Council boosted its stake in shares of Microchip Technology by 181.1% during the 4th quarter. South Dakota Investment Council now owns 185,665 shares of the semiconductor company’s stock worth $10,648,000 after acquiring an additional 119,604 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Microchip Technology by 3.0% in the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 107,933 shares of the semiconductor company’s stock valued at $6,190,000 after purchasing an additional 3,100 shares in the last quarter. Howard Capital Management Inc. raised its holdings in Microchip Technology by 3.0% during the fourth quarter. Howard Capital Management Inc. now owns 15,393 shares of the semiconductor company’s stock worth $883,000 after purchasing an additional 455 shares during the last quarter. Carl P. Sherr & Co. LLC boosted its position in Microchip Technology by 3.5% during the fourth quarter. Carl P. Sherr & Co. LLC now owns 11,970 shares of the semiconductor company’s stock worth $686,000 after purchasing an additional 400 shares in the last quarter. Finally, Waterfront Wealth Inc. grew its holdings in Microchip Technology by 47.5% in the fourth quarter. Waterfront Wealth Inc. now owns 19,409 shares of the semiconductor company’s stock valued at $1,113,000 after purchasing an additional 6,251 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Stock Performance

NASDAQ:MCHP opened at $60.83 on Tuesday. Microchip Technology Incorporated has a fifty-two week low of $50.21 and a fifty-two week high of $100.57. The firm’s 50 day moving average is $56.74 and its two-hundred day moving average is $67.88. The company has a market cap of $32.72 billion, a P/E ratio of 108.63 and a beta of 1.50. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results 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 net margin of 6.49% and a return on equity of 12.62%. Analysts expect 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. Investors 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 2.99%. The ex-dividend date is Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is presently 325.00%.

Analysts Set New Price Targets

Several research firms have recently issued reports on MCHP. Rosenblatt Securities reaffirmed a “buy” rating and set a $90.00 price target on shares of Microchip Technology in a research note on Thursday, February 6th. Evercore ISI restated an “outperform” rating and set a $95.00 target price (down previously from $101.00) on shares of Microchip Technology in a research report on Wednesday, November 6th. Raymond James reiterated a “strong-buy” rating and issued a $60.00 price target (down from $95.00) on shares of Microchip Technology in a research 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 research report on Tuesday, December 3rd. Finally, StockNews.com lowered Microchip Technology from a “hold” rating to a “sell” rating in a research note on Monday, February 10th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average 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.