UniSuper Management Pty Ltd Purchases 13,627 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

UniSuper Management Pty Ltd boosted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 13.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 117,130 shares of the semiconductor company’s stock after purchasing an additional 13,627 shares during the period. UniSuper Management Pty Ltd’s holdings in Microchip Technology were worth $6,717,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MCHP. Van ECK Associates Corp boosted its holdings in shares of Microchip Technology by 39.3% in the 4th 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 during the last quarter. Assenagon Asset Management S.A. boosted its stake in Microchip Technology by 9,901.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock valued at $163,886,000 after acquiring an additional 2,829,082 shares during the last quarter. Madison Investment Advisors LLC bought a new position in shares of Microchip Technology during the 4th quarter valued at approximately $78,661,000. Franklin Resources Inc. raised its holdings in shares of Microchip Technology by 30.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company’s stock worth $264,430,000 after purchasing an additional 776,408 shares during the period. Finally, Vanguard Group Inc. increased its position in Microchip Technology by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 68,912,345 shares of the semiconductor company’s stock worth $3,952,123,000 after buying an additional 569,699 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Down 2.6 %

Shares of NASDAQ:MCHP opened at $50.79 on Friday. The firm has a market capitalization of $27.32 billion, a PE ratio of 90.70 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. Microchip Technology Incorporated has a 52-week low of $49.92 and a 52-week high of $100.57. The firm has a fifty day moving average of $55.83 and a 200 day moving average of $64.16.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data 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 net margin of 6.49% and a return on equity of 12.62%. As a group, 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. Stockholders of record on Monday, February 24th were issued a $0.455 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.58%. Microchip Technology’s payout ratio is 325.00%.

Analyst Ratings Changes

Several research firms have recently weighed in on MCHP. Needham & Company LLC increased their price target on Microchip Technology from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Piper Sandler reiterated an “overweight” rating and issued a $65.00 target price (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Rosenblatt Securities restated a “buy” rating and set a $70.00 price target on shares of Microchip Technology in a research note on Tuesday, March 4th. TD Cowen lifted their price objective on shares of Microchip Technology from $50.00 to $60.00 and gave the company a “hold” rating in a research note on Tuesday, March 4th. Finally, Raymond James restated a “strong-buy” rating and set a $60.00 target price (down previously from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.37.

Insider Activity

In other news, CFO James Eric Bjornholt sold 3,724 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the completion of the sale, the chief financial officer now owns 33,272 shares of the company’s stock, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.10% of the stock is owned by corporate insiders.

About Microchip Technology

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.