6,719 Shares in Microchip Technology Incorporated (NASDAQ:MCHP) Purchased by Four Tree Island Advisory LLC

Four Tree Island Advisory LLC acquired a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,719 shares of the semiconductor company’s stock, valued at approximately $385,000. Microchip Technology makes up 0.3% of Four Tree Island Advisory LLC’s holdings, making the stock its 21st biggest position.

A number of other hedge funds also recently added to or reduced their stakes in MCHP. Van ECK Associates Corp grew its holdings in Microchip Technology by 25.1% in the third quarter. Van ECK Associates Corp now owns 7,961,200 shares of the semiconductor company’s stock worth $599,239,000 after purchasing an additional 1,597,263 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Microchip Technology by 30.2% during the 3rd quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company’s stock worth $264,430,000 after acquiring an additional 776,408 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Microchip Technology by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,026,946 shares of the semiconductor company’s stock valued at $243,034,000 after purchasing an additional 25,872 shares during the period. Assenagon Asset Management S.A. increased its holdings in Microchip Technology by 9,901.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock worth $163,886,000 after acquiring an additional 2,829,082 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake 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 worth $220,957,000 after purchasing an additional 460,697 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Trading Down 2.3 %

NASDAQ MCHP opened at $51.89 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. The stock has a market capitalization of $27.87 billion, a P/E ratio of 92.66 and a beta of 1.50. The firm’s 50-day moving average is $57.71 and its two-hundred day moving average is $69.84. Microchip Technology Incorporated has a 12 month low of $50.21 and a 12 month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.41% and a net margin of 6.49%. On average, sell-side analysts anticipate that Microchip Technology Incorporated will post 1.3 earnings per share for the current year.

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be paid 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 3.51%. Microchip Technology’s payout ratio is presently 325.00%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MCHP. Raymond James restated a “strong-buy” rating and issued a $60.00 target price (down previously from $95.00) on shares of Microchip Technology in a research report on Friday. Stifel Nicolaus decreased their price objective on Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. TD Cowen lowered their target price on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Morgan Stanley reduced their target price on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Finally, B. Riley restated a “buy” rating and set a $75.00 price target (down from $85.00) on shares of Microchip Technology in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $77.11.

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.