Boston Partners Reduces Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Boston Partners decreased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 18.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,930,763 shares of the semiconductor company’s stock after selling 1,753,820 shares during the quarter. Boston Partners’ holdings in Microchip Technology were worth $455,102,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pallas Capital Advisors LLC bought a new stake in shares of Microchip Technology during the fourth quarter valued at approximately $5,917,000. Consolidated Planning Corp bought a new position in Microchip Technology during the 4th quarter worth about $308,000. Quadrature Capital Ltd bought a new position in Microchip Technology during the 3rd quarter worth about $3,312,000. Symphony Financial Ltd. Co. purchased a new stake in shares of Microchip Technology during the fourth quarter valued at about $520,000. Finally, Benjamin Edwards Inc. lifted its position in shares of Microchip Technology by 5,185.4% during the third quarter. Benjamin Edwards Inc. now owns 9,408 shares of the semiconductor company’s stock valued at $755,000 after buying an additional 9,230 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Price Performance

Shares of MCHP stock opened at $55.26 on Tuesday. Microchip Technology Incorporated has a 12 month low of $50.21 and a 12 month high of $100.57. 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 50 day moving average of $56.45 and a two-hundred day moving average of $65.40. The company 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 released its quarterly 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%. As a group, equities 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 was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were issued a dividend of $0.455 per share. The ex-dividend date was Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.29%. Microchip Technology’s dividend payout ratio is presently 325.00%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Stifel Nicolaus decreased their price objective on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, December 3rd. Needham & Company LLC raised their price objective on shares of Microchip Technology from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. TD Cowen lifted their price target on shares of Microchip Technology from $50.00 to $60.00 and gave the company a “hold” rating in a research note on Tuesday, March 4th. Morgan Stanley lowered their target price on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Finally, The Goldman Sachs Group lowered their target price on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.37.

Insiders Place Their Bets

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 stock was sold at an average price of $60.88, for a total transaction of $226,717.12. Following 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

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.