Levin Capital Strategies L.P. acquired a new position in Microchip Technology Inc. (NASDAQ:MCHP) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 60,658 shares of the semiconductor company’s stock, valued at approximately $4,363,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Microchip Technology by 0.9% during the third quarter. Vanguard Group Inc. now owns 26,236,361 shares of the semiconductor company’s stock valued at $2,070,312,000 after purchasing an additional 237,329 shares during the last quarter. Vanguard Group Inc lifted its holdings in shares of Microchip Technology by 0.9% during the third quarter. Vanguard Group Inc now owns 26,236,361 shares of the semiconductor company’s stock valued at $2,070,312,000 after purchasing an additional 237,329 shares during the last quarter. Dodge & Cox purchased a new position in shares of Microchip Technology during the third quarter valued at approximately $827,774,000. Pictet Asset Management Ltd. lifted its holdings in shares of Microchip Technology by 163.6% during the third quarter. Pictet Asset Management Ltd. now owns 3,158,240 shares of the semiconductor company’s stock valued at $249,217,000 after purchasing an additional 1,960,048 shares during the last quarter. Finally, OppenheimerFunds Inc. lifted its holdings in shares of Microchip Technology by 9.4% during the third quarter. OppenheimerFunds Inc. now owns 1,917,640 shares of the semiconductor company’s stock valued at $151,320,000 after purchasing an additional 164,083 shares during the last quarter.

Shares of NASDAQ MCHP opened at $87.11 on Monday. Microchip Technology Inc. has a twelve month low of $60.70 and a twelve month high of $104.20. The company has a market capitalization of $20.64 billion, a P/E ratio of 16.78, a PEG ratio of 1.11 and a beta of 1.21. The company has a quick ratio of 1.83, a current ratio of 2.92 and a debt-to-equity ratio of 2.04.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Tuesday, February 5th. The semiconductor company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.21. Microchip Technology had a net margin of 6.53% and a return on equity of 32.30%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the business earned $1.36 EPS. The firm’s revenue for the quarter was up 42.5% on a year-over-year basis. Sell-side analysts expect that Microchip Technology Inc. will post 5.89 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 7th. Investors of record on Thursday, February 21st will be issued a $0.365 dividend. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.46 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Wednesday, February 20th. Microchip Technology’s payout ratio is presently 28.13%.

In other Microchip Technology news, CFO James Eric Bjornholt sold 1,866 shares of Microchip Technology stock in a transaction that occurred on Friday, November 23rd. The shares were sold at an average price of $72.06, for a total value of $134,463.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Stephen V. Drehobl sold 4,271 shares of Microchip Technology stock in a transaction that occurred on Friday, November 23rd. The stock was sold at an average price of $72.06, for a total transaction of $307,768.26. Following the completion of the sale, the vice president now directly owns 17,173 shares of the company’s stock, valued at approximately $1,237,486.38. The disclosure for this sale can be found here. 2.13% of the stock is owned by insiders.

Several equities analysts have recently issued reports on MCHP shares. Jefferies Financial Group lowered their target price on shares of Microchip Technology from $115.00 to $102.00 and set a “buy” rating for the company in a report on Thursday, November 8th. Nomura set a $95.00 target price on shares of Microchip Technology and gave the company a “buy” rating in a report on Thursday, November 8th. B. Riley lowered their target price on shares of Microchip Technology from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, November 8th. Piper Jaffray Companies set a $130.00 target price on shares of Microchip Technology and gave the company a “buy” rating in a report on Thursday, November 8th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Microchip Technology in a report on Thursday, November 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $103.95.

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Microchip Technology 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.

See Also: Coverage Ratio

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

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