Ariston Services Group Grows Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Ariston Services Group raised its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 25.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,708 shares of the semiconductor company’s stock after purchasing an additional 944 shares during the period. Ariston Services Group’s holdings in Microchip Technology were worth $270,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Commerzbank Aktiengesellschaft FI grew its stake in Microchip Technology by 22.9% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 13,422 shares of the semiconductor company’s stock valued at $767,000 after buying an additional 2,505 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 worth $180,295,000 after acquiring an additional 116,823 shares during the period. Plato Investment Management Ltd grew its position in shares of Microchip Technology by 406.2% in the fourth quarter. Plato Investment Management Ltd now owns 17,712 shares of the semiconductor company’s stock valued at $1,019,000 after purchasing an additional 14,213 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Microchip Technology during the 4th quarter worth about $51,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Microchip Technology by 15.7% in the fourth quarter. Jones Financial Companies Lllp now owns 16,418 shares of the semiconductor company’s stock worth $942,000 after buying an additional 2,226 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the company’s 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 directly owns 33,272 shares in the company, valued at approximately $2,025,599.36. This represents a 10.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Microchip Technology Stock Performance

NASDAQ:MCHP opened at $57.95 on Tuesday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. Microchip Technology Incorporated has a fifty-two week low of $50.21 and a fifty-two week high of $100.57. The business has a 50 day moving average price of $56.94 and a 200-day moving average price of $67.20. The firm has a market cap of $31.17 billion, a PE ratio of 103.48 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (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%. Equities research analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Monday, February 24th will be issued a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 3.14%. The ex-dividend date is Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is currently 325.00%.

Analyst Ratings Changes

Several brokerages have commented on MCHP. The Goldman Sachs Group cut their price target on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Rosenblatt Securities reissued a “buy” rating and set a $90.00 price objective on shares of Microchip Technology in a report on Thursday, February 6th. Susquehanna lowered their target price on shares of Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, November 6th. Morgan Stanley cut their price target on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Finally, StockNews.com cut shares of Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.