Wrapmanager Inc. raised its holdings in Microchip Technology Inc. (NASDAQ:MCHP) by 5.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,126 shares of the semiconductor company’s stock after buying an additional 150 shares during the quarter. Wrapmanager Inc.’s holdings in Microchip Technology were worth $259,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in MCHP. Norges Bank acquired a new stake in Microchip Technology in the 4th quarter valued at approximately $155,541,000. Oregon Public Employees Retirement Fund grew its holdings in Microchip Technology by 7,043.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,841,512 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 1,815,732 shares during the last quarter. Partner Fund Management L.P. acquired a new stake in Microchip Technology in the 4th quarter valued at approximately $74,257,000. TD Asset Management Inc. grew its holdings in Microchip Technology by 26.5% in the 4th quarter. TD Asset Management Inc. now owns 1,167,775 shares of the semiconductor company’s stock valued at $83,986,000 after buying an additional 244,680 shares during the last quarter. Finally, Vanguard Group Inc grew its holdings in Microchip Technology by 0.9% in the 3rd quarter. Vanguard Group Inc now owns 26,236,361 shares of the semiconductor company’s stock valued at $2,070,312,000 after buying an additional 237,329 shares during the last quarter.
Shares of MCHP stock traded down $0.98 during mid-day trading on Thursday, reaching $84.82. The stock had a trading volume of 69,546 shares, compared to its average volume of 2,918,915. The company has a current ratio of 0.93, a quick ratio of 0.63 and a debt-to-equity ratio of 1.69. Microchip Technology Inc. has a one year low of $60.70 and a one year high of $104.20. The company has a market capitalization of $20.06 billion, a P/E ratio of 13.96, a P/E/G ratio of 1.11 and a beta of 1.31.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be given a dividend of $0.3655 per share. This represents a $1.46 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Monday, May 20th. This is an increase from Microchip Technology’s previous quarterly dividend of $0.37. Microchip Technology’s dividend payout ratio (DPR) is 24.01%.
A number of analysts have issued reports on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $115.00 target price on shares of Microchip Technology in a report on Monday, May 6th. Cowen began coverage on Microchip Technology in a report on Friday, February 22nd. They issued a “market perform” rating and a $90.00 target price on the stock. Zacks Investment Research downgraded Microchip Technology from a “hold” rating to a “sell” rating in a research report on Tuesday. BidaskClub upgraded Microchip Technology from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 30th. Finally, Citigroup reiterated a “buy” rating and issued a $105.00 price objective on shares of Microchip Technology in a research report on Thursday, February 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $104.32.
In related news, VP James Eric Bjornholt sold 2,356 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $89.24, for a total transaction of $210,249.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew W. Chapman sold 4,660 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $91.04, for a total value of $424,246.40. Following the transaction, the director now owns 19,080 shares of the company’s stock, valued at approximately $1,737,043.20. The disclosure for this sale can be found here. Insiders have sold a total of 10,516 shares of company stock valued at $931,366 in the last 90 days. 2.13% of the stock is owned by corporate insiders.
Microchip Technology Company Profile
Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.
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