China Universal Asset Management Co. Ltd. Boosts Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

China Universal Asset Management Co. Ltd. lifted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 28.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,739 shares of the semiconductor company’s stock after purchasing an additional 1,934 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Microchip Technology were worth $501,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Boomfish Wealth Group LLC boosted its position in Microchip Technology by 36.1% during the 4th quarter. Boomfish Wealth Group LLC now owns 38,863 shares of the semiconductor company’s stock valued at $2,229,000 after acquiring an additional 10,311 shares in the last quarter. Gilbert & Cook Inc. raised its holdings in Microchip Technology by 15.9% in the fourth quarter. Gilbert & Cook Inc. now owns 5,343 shares of the semiconductor company’s stock worth $306,000 after purchasing an additional 734 shares in the last quarter. Swedbank AB lifted its position in shares of Microchip Technology by 6.4% during the fourth quarter. Swedbank AB now owns 37,132 shares of the semiconductor company’s stock valued at $2,130,000 after buying an additional 2,247 shares during the last quarter. Iams Wealth Management LLC boosted its holdings in shares of Microchip Technology by 38.9% in the 4th quarter. Iams Wealth Management LLC now owns 26,194 shares of the semiconductor company’s stock valued at $1,502,000 after buying an additional 7,338 shares in the last quarter. Finally, Forsta AP Fonden raised its stake in shares of Microchip Technology by 3.9% during the 4th quarter. Forsta AP Fonden now owns 116,200 shares of the semiconductor company’s stock worth $6,664,000 after acquiring an additional 4,400 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Trading Down 1.6 %

Microchip Technology stock opened at $54.30 on Monday. The firm has a market cap of $29.16 billion, a PE ratio of 37.97 and a beta of 1.52. Microchip Technology Incorporated has a 12 month low of $53.98 and a 12 month high of $100.57. The stock’s 50 day simple moving average is $59.29 and its two-hundred day simple moving average is $71.18. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the firm posted $1.54 earnings per share. The firm’s quarterly revenue was down 48.4% compared to the same quarter last year. Analysts anticipate that Microchip Technology Incorporated will post 1.31 earnings per share for the current year.

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were issued a $0.455 dividend. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date was Friday, November 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 3.35%. Microchip Technology’s dividend payout ratio is presently 127.27%.

Wall Street Analyst Weigh In

MCHP has been the subject of several analyst reports. Susquehanna decreased their price objective on Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, November 6th. Needham & Company LLC reiterated a “buy” rating and issued a $85.00 price target on shares of Microchip Technology in a research note on Tuesday, December 3rd. Jefferies Financial Group dropped their price target on Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Citigroup decreased their price objective on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, Bank of America downgraded shares of Microchip Technology from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $80.00 to $65.00 in a research report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.00.

Microchip Technology 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.