Smartleaf Asset Management LLC Increases Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Smartleaf Asset Management LLC lifted its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 14.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,380 shares of the semiconductor company’s stock after purchasing an additional 544 shares during the period. Smartleaf Asset Management LLC’s holdings in Microchip Technology were worth $250,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of MCHP. Van ECK Associates Corp increased its position in Microchip Technology by 39.3% during the fourth quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company’s stock worth $636,184,000 after buying an additional 3,131,807 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Microchip Technology by 30.2% during the third quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company’s stock valued at $264,430,000 after acquiring an additional 776,408 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Microchip Technology by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,026,946 shares of the semiconductor company’s stock worth $243,034,000 after purchasing an additional 25,872 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Microchip Technology by 9,901.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock valued at $163,886,000 after purchasing an additional 2,829,082 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Microchip Technology by 20.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,751,987 shares of the semiconductor company’s stock valued at $220,957,000 after purchasing an additional 460,697 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Trading Up 2.6 %

Shares of MCHP opened at $59.64 on Thursday. Microchip Technology Incorporated has a 12 month low of $50.21 and a 12 month high of $100.57. The stock’s 50-day moving average is $56.95 and its two-hundred day moving average is $66.99. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The stock has a market cap of $32.08 billion, a PE ratio of 106.50 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. Equities analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is 325.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MCHP shares. TD Cowen lifted their price target on shares of Microchip Technology from $50.00 to $60.00 and gave the stock a “hold” rating in a report on Tuesday. Jefferies Financial Group lowered their target price on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Rosenblatt Securities reissued a “buy” rating and set a $70.00 price target on shares of Microchip Technology in a research note on Tuesday. Morgan Stanley lowered their price objective on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Finally, Mizuho increased their target price on Microchip Technology from $58.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.37.

Insider Buying and Selling

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total transaction of $226,717.12. Following the sale, the chief financial officer now directly owns 33,272 shares in the company, valued at $2,025,599.36. The trade was a 10.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is currently owned by insiders.

Microchip Technology Company Profile

Microchip Technology Incorporated engages in the development, manufacture, and sale of 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 mixed-signal 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.