Duality Advisers LP acquired a new stake in Microchip Technology Incorporated (NASDAQ:MCHP – Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,975 shares of the semiconductor company’s stock, valued at approximately $919,000.
Several other large investors have also recently added to or reduced their stakes in MCHP. Psagot Value Holdings Ltd. Israel lifted its holdings in shares of Microchip Technology by 5.4% during the 1st quarter. Psagot Value Holdings Ltd. Israel now owns 2,815 shares of the semiconductor company’s stock worth $231,000 after acquiring an additional 145 shares during the period. EP Wealth Advisors LLC acquired a new position in shares of Microchip Technology in the 1st quarter valued at $14,332,000. Ontario Teachers Pension Plan Board grew its stake in shares of Microchip Technology by 413.0% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 19,777 shares of the semiconductor company’s stock valued at $1,657,000 after buying an additional 15,922 shares during the period. Prelude Capital Management LLC increased its holdings in shares of Microchip Technology by 115.1% during the 1st quarter. Prelude Capital Management LLC now owns 15,568 shares of the semiconductor company’s stock worth $1,304,000 after buying an additional 8,332 shares during the last quarter. Finally, Macquarie Group Ltd. increased its holdings in shares of Microchip Technology by 4.3% during the 1st quarter. Macquarie Group Ltd. now owns 7,990,999 shares of the semiconductor company’s stock worth $669,486,000 after buying an additional 326,819 shares during the last quarter. 90.85% of the stock is currently owned by hedge funds and other institutional investors.
Microchip Technology Price Performance
Shares of NASDAQ MCHP opened at $77.63 on Monday. Microchip Technology Incorporated has a fifty-two week low of $54.77 and a fifty-two week high of $94.30. The company has a quick ratio of 0.60, a current ratio of 1.02 and a debt-to-equity ratio of 0.68. The firm has a market cap of $42.26 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 1.12 and a beta of 1.63. The business has a 50 day moving average price of $84.64 and a two-hundred day moving average price of $81.72.
Microchip Technology Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Tuesday, August 22nd were given a $0.41 dividend. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Monday, August 21st. This represents a $1.64 annualized dividend and a dividend yield of 2.11%. Microchip Technology’s dividend payout ratio (DPR) is presently 37.96%.
Insider Activity
In related news, CFO James Eric Bjornholt sold 2,363 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $78.63, for a total transaction of $185,802.69. Following the transaction, the chief financial officer now directly owns 32,004 shares in the company, valued at $2,516,474.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.07% of the company’s stock.
Analysts Set New Price Targets
MCHP has been the subject of a number of research reports. Stifel Nicolaus boosted their price target on Microchip Technology from $95.00 to $105.00 and gave the company an “equal weight” rating in a research report on Thursday, July 20th. Truist Financial increased their target price on shares of Microchip Technology from $95.00 to $104.00 and gave the stock a “buy” rating in a research report on Friday, July 14th. Wells Fargo & Company lifted their price target on shares of Microchip Technology from $80.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, August 4th. Mizuho dropped their price objective on shares of Microchip Technology from $89.00 to $86.00 and set a “neutral” rating for the company in a research report on Friday, August 4th. Finally, Wolfe Research started coverage on shares of Microchip Technology in a report on Wednesday, July 19th. They set a “market perform” rating on the stock. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $98.18.
View Our Latest Stock Analysis on Microchip Technology
Microchip Technology Company Profile
Microchip Technology Incorporated develops, manufactures, and sells 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 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.
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