Microchip Technology Incorporated (NASDAQ:MCHP) Stake Raised by National Pension Service

National Pension Service increased its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 2.1% during the fourth quarter, HoldingsChannel reports. The firm owned 1,176,547 shares of the semiconductor company’s stock after acquiring an additional 24,211 shares during the period. National Pension Service’s holdings in Microchip Technology were worth $106,101,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mizuho Markets Americas LLC bought a new stake in Microchip Technology in the third quarter worth approximately $225,800,000. Truist Financial Corp boosted its position in shares of Microchip Technology by 324.0% during the 4th quarter. Truist Financial Corp now owns 1,815,013 shares of the semiconductor company’s stock valued at $163,678,000 after acquiring an additional 1,386,924 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of Microchip Technology by 122.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,529,186 shares of the semiconductor company’s stock valued at $119,353,000 after purchasing an additional 840,526 shares in the last quarter. Van ECK Associates Corp grew its holdings in Microchip Technology by 16.0% during the 4th quarter. Van ECK Associates Corp now owns 5,177,014 shares of the semiconductor company’s stock worth $466,863,000 after acquiring an additional 714,376 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its position in Microchip Technology by 173.4% in the third quarter. Public Sector Pension Investment Board now owns 1,062,611 shares of the semiconductor company’s stock worth $82,937,000 after purchasing an additional 673,924 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Buying and Selling at Microchip Technology

In other news, CFO James Eric Bjornholt sold 1,970 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $83.90, for a total transaction of $165,283.00. Following the sale, the chief financial officer now owns 32,893 shares in the company, valued at approximately $2,759,722.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MCHP shares. Needham & Company LLC lifted their price target on shares of Microchip Technology from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday. Stifel Nicolaus boosted their price target on Microchip Technology from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Susquehanna raised their target price on shares of Microchip Technology from $100.00 to $105.00 and gave the company a “positive” rating in a report on Tuesday. B. Riley increased their price target on shares of Microchip Technology from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Wolfe Research upgraded Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 target price for the company in a research note on Thursday, January 18th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Microchip Technology currently has an average rating of “Moderate Buy” and a consensus price target of $98.47.

Microchip Technology Price Performance

NASDAQ MCHP remained flat at $91.99 during trading hours on Thursday. 735,508 shares of the company were exchanged, compared to its average volume of 5,581,314. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 0.57. The company has a market cap of $49.71 billion, a PE ratio of 21.38, a P/E/G ratio of 2.79 and a beta of 1.60. Microchip Technology Incorporated has a 1-year low of $68.75 and a 1-year high of $96.14. The firm has a 50-day simple moving average of $88.45 and a 200 day simple moving average of $85.37.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Monday, May 6th. The semiconductor company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the business earned $1.56 earnings per share. Microchip Technology’s revenue for the quarter was down 40.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Microchip Technology Incorporated will post 4.64 earnings per share for the current year.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd will be paid a dividend of $0.452 per share. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date is Tuesday, May 21st. This represents a $1.81 annualized dividend and a yield of 1.97%. Microchip Technology’s dividend payout ratio (DPR) is currently 42.06%.

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.