Xponance Inc. Raises Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Xponance Inc. grew its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 12.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 81,519 shares of the semiconductor company’s stock after acquiring an additional 8,707 shares during the quarter. Xponance Inc.’s holdings in Microchip Technology were worth $4,675,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Mainstream Capital Management LLC purchased a new position in Microchip Technology in the 4th quarter valued at about $26,000. Rakuten Securities Inc. raised its position in shares of Microchip Technology by 309.5% in the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock worth $27,000 after buying an additional 359 shares during the period. Prospera Private Wealth LLC purchased a new position in shares of Microchip Technology in the 3rd quarter worth about $29,000. OFI Invest Asset Management purchased a new position in Microchip Technology in the fourth quarter valued at approximately $29,000. Finally, Financial Life Planners acquired a new position in shares of Microchip Technology during the 4th quarter valued at $32,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

MCHP has been the topic of several recent research reports. Needham & Company LLC boosted their price target on Microchip Technology from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. KeyCorp reduced their price target on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. TD Cowen raised their price objective on Microchip Technology from $50.00 to $60.00 and gave the stock a “hold” rating in a research note on Tuesday, March 4th. B. Riley restated a “buy” rating and issued a $75.00 target price (down from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Finally, StockNews.com downgraded shares of Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Microchip Technology currently has an average rating of “Moderate Buy” and an average target price of $74.37.

Insider Buying and Selling at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the sale, the chief financial officer now directly owns 33,272 shares in the company, valued at approximately $2,025,599.36. This trade represents a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.10% of the company’s stock.

Microchip Technology Trading Down 6.5 %

Shares of NASDAQ:MCHP opened at $51.00 on Friday. The stock has a market capitalization of $27.43 billion, a price-to-earnings ratio of 91.07 and a beta of 1.52. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. The company has a 50 day moving average price of $56.24 and a 200 day moving average price of $65.03. Microchip Technology Incorporated has a 1-year low of $50.21 and a 1-year high of $100.57.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. On average, research analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were given a dividend of $0.455 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a yield of 3.57%. Microchip Technology’s payout ratio is presently 325.00%.

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.