Microchip Technology Incorporated (NASDAQ:MCHP) Stock Holdings Lessened by Texas Capital Bancshares Inc TX

Texas Capital Bancshares Inc TX cut its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 8.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,708 shares of the semiconductor company’s stock after selling 537 shares during the quarter. Texas Capital Bancshares Inc TX’s holdings in Microchip Technology were worth $327,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Microchip Technology by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 68,912,345 shares of the semiconductor company’s stock worth $3,952,123,000 after purchasing an additional 569,699 shares during the period. Van ECK Associates Corp boosted its position in shares of Microchip Technology by 39.3% in the fourth quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company’s stock worth $636,184,000 after buying an additional 3,131,807 shares during the period. Invesco Ltd. grew its holdings in shares of Microchip Technology by 9.5% during the fourth quarter. Invesco Ltd. now owns 10,247,908 shares of the semiconductor company’s stock valued at $587,718,000 after buying an additional 890,819 shares in the last quarter. Norges Bank acquired a new position in Microchip Technology during the fourth quarter valued at $452,627,000. Finally, FIL Ltd boosted its position in Microchip Technology by 9.0% during the 4th quarter. FIL Ltd now owns 7,877,482 shares of the semiconductor company’s stock worth $451,774,000 after acquiring an additional 653,705 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MCHP has been the topic of a number of research reports. Rosenblatt Securities reiterated a “buy” rating and issued a $70.00 target price on shares of Microchip Technology in a report on Tuesday, March 4th. B. Riley reiterated a “buy” rating and issued a $75.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Bank of America lowered shares of 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 note on Monday, December 16th. StockNews.com lowered Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 10th. Finally, 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 note on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.37.

Microchip Technology Stock Performance

Shares of MCHP opened at $38.81 on Friday. The company has a market capitalization of $20.87 billion, a PE ratio of 69.30 and a beta of 1.51. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $100.57. The company’s fifty day moving average price is $52.41 and its 200 day moving average price is $61.29.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates 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, analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is currently 325.00%.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total transaction 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. This trade represents a 10.07 % decrease in their ownership of the stock. The transaction 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.