Microchip Technology Incorporated (NASDAQ:MCHP) Shares Acquired by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale boosted its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHPGet Rating) by 69.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,203,703 shares of the semiconductor company’s stock after purchasing an additional 492,134 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.22% of Microchip Technology worth $106,180,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in MCHP. Emfo LLC lifted its position in Microchip Technology by 100.0% in the 4th quarter. Emfo LLC now owns 290 shares of the semiconductor company’s stock worth $25,000 after buying an additional 145 shares in the last quarter. Tarbox Family Office Inc. lifted its position in Microchip Technology by 97.4% in the 4th quarter. Tarbox Family Office Inc. now owns 302 shares of the semiconductor company’s stock worth $26,000 after buying an additional 149 shares in the last quarter. Hoese & Co LLP lifted its position in Microchip Technology by 100.0% in the 4th quarter. Hoese & Co LLP now owns 300 shares of the semiconductor company’s stock worth $26,000 after buying an additional 150 shares in the last quarter. Gradient Investments LLC lifted its position in Microchip Technology by 100.6% in the 4th quarter. Gradient Investments LLC now owns 315 shares of the semiconductor company’s stock worth $27,000 after buying an additional 158 shares in the last quarter. Finally, TCI Wealth Advisors Inc. lifted its position in Microchip Technology by 142.1% in the 4th quarter. TCI Wealth Advisors Inc. now owns 305 shares of the semiconductor company’s stock worth $27,000 after buying an additional 179 shares in the last quarter. 55.64% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently issued reports on MCHP. Mizuho raised their target price on shares of Microchip Technology from $85.00 to $87.00 and gave the company a “neutral” rating in a research note on Friday, February 4th. Rosenblatt Securities lifted their target price on shares of Microchip Technology from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, February 4th. Susquehanna Bancshares reiterated a “buy” rating and set a $100.00 target price on shares of Microchip Technology in a research report on Friday, February 4th. Bank of America decreased their target price on shares of Microchip Technology from $100.00 to $92.00 and set a “buy” rating on the stock in a research report on Friday, February 4th. Finally, UBS Group lifted their target price on shares of Microchip Technology from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, March 9th. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $96.31.

In related news, CFO James Eric Bjornholt sold 1,885 shares of the firm’s stock in a transaction that occurred on Tuesday, February 22nd. The shares were sold at an average price of $70.93, for a total value of $133,703.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Mitchell R. Little sold 3,613 shares of the firm’s stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $70.93, for a total transaction of $256,270.09. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,498 shares of company stock worth $460,903. 2.03% of the stock is currently owned by corporate insiders.

Shares of MCHP stock traded down $1.87 on Friday, hitting $66.32. The company’s stock had a trading volume of 4,194,422 shares, compared to its average volume of 5,123,881. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.18 and a current ratio of 1.81. The stock’s 50 day moving average is $72.89 and its 200-day moving average is $84.89. Microchip Technology Incorporated has a fifty-two week low of $64.26 and a fifty-two week high of $90.00. The company has a market capitalization of $36.87 billion, a PE ratio of 39.01, a PEG ratio of 0.67 and a beta of 1.57.

Microchip Technology (NASDAQ:MCHPGet Rating) last announced its quarterly earnings data on Thursday, February 3rd. The semiconductor company reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.03. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. Microchip Technology had a net margin of 14.95% and a return on equity of 38.44%. During the same period in the prior year, the company posted $0.72 earnings per share. On average, research analysts forecast that Microchip Technology Incorporated will post 4.18 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 8th. Stockholders of record on Tuesday, February 22nd were paid a $0.253 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.23. This represents a $1.01 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date was Friday, February 18th. Microchip Technology’s dividend payout ratio (DPR) is presently 59.41%.

Microchip Technology Company Profile (Get Rating)

Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit embedded microprocessors markets; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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