RD Lewis Holdings Inc. Invests $638,000 in Microchip Technology Incorporated (NASDAQ:MCHP)

RD Lewis Holdings Inc. acquired a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 11,126 shares of the semiconductor company’s stock, valued at approximately $638,000.

A number of other large investors also recently bought and sold shares of the business. Van ECK Associates Corp increased its holdings in shares of Microchip Technology by 39.3% in the 4th quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company’s stock valued at $636,184,000 after acquiring an additional 3,131,807 shares during the period. Franklin Resources Inc. boosted its position in Microchip Technology by 30.2% during the third 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 in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Microchip Technology by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,143,769 shares of the semiconductor company’s stock valued at $180,295,000 after purchasing an additional 116,823 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Microchip Technology by 9,901.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock worth $163,886,000 after purchasing an additional 2,829,082 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Microchip Technology by 20.1% during the third 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 buying an additional 460,697 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the completion of the transaction, the chief financial officer now owns 33,272 shares of the company’s stock, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.10% of the company’s stock.

Microchip Technology Stock Up 3.3 %

NASDAQ:MCHP opened at $55.26 on Tuesday. 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 company’s fifty day moving average price is $56.45 and its 200-day moving average price is $65.40. Microchip Technology Incorporated has a 1-year low of $50.21 and a 1-year high of $100.57. The firm has a market capitalization of $29.72 billion, a P/E ratio of 98.68 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly 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 12.62% and a net margin of 6.49%. As a group, equities research analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date was Monday, February 24th. Microchip Technology’s payout ratio is presently 325.00%.

Analyst Ratings Changes

MCHP has been the topic of a number of analyst reports. B. Riley reaffirmed a “buy” rating and issued a $75.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. TD Cowen lifted their price target on shares of Microchip Technology from $50.00 to $60.00 and gave the stock a “hold” rating in a report on Tuesday, March 4th. Mizuho increased their price objective on Microchip Technology from $58.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. Evercore ISI boosted their target price on Microchip Technology from $65.00 to $71.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 4th. Finally, 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 note on Friday, February 7th. Two equities research 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $74.37.

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.