Aster Capital Management DIFC Ltd Has $46,000 Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Aster Capital Management DIFC Ltd boosted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 399.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 809 shares of the semiconductor company’s stock after buying an additional 647 shares during the quarter. Aster Capital Management DIFC Ltd’s holdings in Microchip Technology were worth $46,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCHP. Mainstream Capital Management LLC acquired a new position in Microchip Technology during the 4th quarter worth about $26,000. Rakuten Securities Inc. lifted its stake in shares of Microchip Technology by 309.5% in the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 359 shares during the period. OFI Invest Asset Management acquired a new position in shares of Microchip Technology in the 4th quarter valued at about $29,000. Financial Life Planners acquired a new position in shares of Microchip Technology in the 4th quarter valued at about $32,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Microchip Technology in the 4th quarter valued at about $34,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Stock Up 27.1 %

NASDAQ MCHP opened at $44.90 on Thursday. 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 stock has a market capitalization of $24.15 billion, a PE ratio of 80.18 and a beta of 1.51. Microchip Technology Incorporated has a 1 year low of $34.13 and a 1 year high of $100.57. The business’s 50-day moving average is $52.68 and its 200 day moving average is $61.56.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data 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 net margin of 6.49% and a return on equity of 12.62%. Sell-side analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were given a dividend of $0.455 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 4.05%. Microchip Technology’s payout ratio is 325.00%.

Insider Buying and Selling at Microchip Technology

In other 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 value of $226,717.12. Following the sale, the chief financial officer now directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group dropped their price objective on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. B. Riley reaffirmed a “buy” rating and issued a $75.00 target price (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Needham & Company LLC boosted their target price on Microchip Technology from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Bank of America lowered Microchip Technology from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $80.00 to $65.00 in a research report on Monday, December 16th. Finally, StockNews.com lowered Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.