Point72 Hong Kong Ltd purchased a new position in Microchip Technology Inc. (NASDAQ:MCHP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,922 shares of the semiconductor company’s stock, valued at approximately $306,000.

A number of other institutional investors and hedge funds also recently modified their holdings of MCHP. Vigilant Capital Management LLC grew its position in shares of Microchip Technology by 9.0% during the fourth quarter. Vigilant Capital Management LLC now owns 1,145 shares of the semiconductor company’s stock worth $120,000 after purchasing an additional 95 shares in the last quarter. Valeo Financial Advisors LLC lifted its stake in shares of Microchip Technology by 4.7% in the 4th quarter. Valeo Financial Advisors LLC now owns 2,120 shares of the semiconductor company’s stock valued at $222,000 after purchasing an additional 95 shares during the last quarter. RFG Advisory LLC lifted its stake in shares of Microchip Technology by 3.1% in the 4th quarter. RFG Advisory LLC now owns 3,551 shares of the semiconductor company’s stock valued at $372,000 after purchasing an additional 106 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Microchip Technology by 0.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 17,685 shares of the semiconductor company’s stock valued at $1,852,000 after purchasing an additional 112 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its stake in shares of Microchip Technology by 0.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 24,683 shares of the semiconductor company’s stock valued at $2,585,000 after purchasing an additional 116 shares during the last quarter.

In other Microchip Technology news, VP Richard J. Simoncic sold 4,091 shares of Microchip Technology stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $101.00, for a total transaction of $413,191.00. Following the completion of the sale, the vice president now owns 18,624 shares of the company’s stock, valued at approximately $1,881,024. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO James Eric Bjornholt sold 1,799 shares of Microchip Technology stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $101.00, for a total value of $181,699.00. The disclosure for this sale can be found here. 2.21% of the stock is owned by insiders.

Shares of NASDAQ:MCHP traded down $0.79 on Wednesday, reaching $74.93. The company had a trading volume of 8,790,436 shares, compared to its average volume of 4,201,704. Microchip Technology Inc. has a 52-week low of $53.15 and a 52-week high of $112.47. The firm’s 50 day simple moving average is $89.91 and its 200-day simple moving average is $96.19. The firm has a market capitalization of $15.69 billion, a PE ratio of 29.62, a PEG ratio of 1.07 and a beta of 1.37. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 1.46.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.06. Microchip Technology had a return on equity of 23.87% and a net margin of 12.23%. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the business posted $1.66 EPS. The business’s revenue was down 6.4% compared to the same quarter last year. As a group, equities research analysts predict that Microchip Technology Inc. will post 4.86 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 21st were paid a dividend of $0.367 per share. This represents a $1.47 annualized dividend and a yield of 1.96%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.37. The ex-dividend date was Thursday, February 20th. Microchip Technology’s payout ratio is 24.18%.

MCHP has been the subject of several analyst reports. Rosenblatt Securities lowered their price objective on Microchip Technology from $132.00 to $120.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Zacks Investment Research raised Microchip Technology from a “sell” rating to a “buy” rating and set a $113.00 price target for the company in a research note on Tuesday, January 7th. Morgan Stanley decreased their price target on Microchip Technology from $107.00 to $81.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 18th. SunTrust Banks raised their price target on Microchip Technology from $113.00 to $119.00 and gave the stock a “positive” rating in a research note on Tuesday, January 7th. Finally, B. Riley lowered Microchip Technology from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $128.00 to $70.00 in a research note on Thursday, March 19th. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $110.85.

About Microchip Technology

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

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