6,700 Shares in Microchip Technology Incorporated (NASDAQ:MCHP) Purchased by one8zero8 LLC

one8zero8 LLC acquired a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,700 shares of the semiconductor company’s stock, valued at approximately $384,000.

Several other institutional investors and hedge funds have also recently modified their holdings of MCHP. Natixis Advisors LLC raised its position in Microchip Technology by 23.2% in the 4th quarter. Natixis Advisors LLC now owns 601,387 shares of the semiconductor company’s stock valued at $34,490,000 after buying an additional 113,124 shares during the last quarter. Frank Rimerman Advisors LLC boosted its holdings in Microchip Technology by 57.9% during the 4th quarter. Frank Rimerman Advisors LLC now owns 26,818 shares of the semiconductor company’s stock worth $1,538,000 after acquiring an additional 9,833 shares during the last quarter. Hills Bank & Trust Co grew its stake in shares of Microchip Technology by 43.2% in the 4th quarter. Hills Bank & Trust Co now owns 9,723 shares of the semiconductor company’s stock worth $558,000 after acquiring an additional 2,934 shares in the last quarter. Intact Investment Management Inc. raised its holdings in shares of Microchip Technology by 4.9% in the fourth quarter. Intact Investment Management Inc. now owns 80,700 shares of the semiconductor company’s stock valued at $4,628,000 after purchasing an additional 3,800 shares during the last quarter. Finally, Madison Investment Advisors LLC bought a new position in shares of Microchip Technology during the fourth quarter valued at about $78,661,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the business’s stock in a transaction that occurred 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 $2,025,599.36. The trade was a 10.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.10% of the stock is owned by insiders.

Microchip Technology Price Performance

Shares of NASDAQ:MCHP opened at $53.50 on Monday. The company has a 50 day moving average of $56.51 and a 200 day moving average of $65.58. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. The stock has a market cap of $28.77 billion, a P/E ratio of 95.54 and a beta of 1.52. Microchip Technology Incorporated has a 12 month low of $50.21 and a 12 month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last released 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, sell-side analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The firm 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. The ex-dividend date was Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 3.40%. Microchip Technology’s payout ratio is currently 325.00%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MCHP. StockNews.com lowered Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 10th. KeyCorp lowered their target price on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a research note on Friday, February 7th. Morgan Stanley reduced 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 report on Tuesday, February 4th. Evercore ISI lifted their price objective on shares of Microchip Technology from $65.00 to $71.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Finally, TD Cowen increased their target price on shares of Microchip Technology from $50.00 to $60.00 and gave the company a “hold” rating in a research report on Tuesday, March 4th. Two 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $74.37.

Microchip Technology Company 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.