Thompson Investment Management Inc. Has $4.75 Million Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Thompson Investment Management Inc. boosted its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 3,762.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 82,841 shares of the semiconductor company’s stock after buying an additional 80,696 shares during the quarter. Thompson Investment Management Inc.’s holdings in Microchip Technology were worth $4,751,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new position in Microchip Technology in the 3rd quarter valued at $29,000. Financial Life Planners acquired a new position in Microchip Technology in the 4th quarter valued at $32,000. Peterson Financial Group Inc. acquired a new position in Microchip Technology in the 3rd quarter valued at $34,000. Truvestments Capital LLC acquired a new position in Microchip Technology in the 3rd quarter valued at $34,000. Finally, Wolff Wiese Magana LLC grew its stake in Microchip Technology by 55.2% in the 3rd quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock valued at $49,000 after buying an additional 218 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MCHP shares. Jefferies Financial Group lowered their target price on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Raymond James restated a “strong-buy” rating and issued a $60.00 price target (down from $95.00) on shares of Microchip Technology in a research report on Friday. Piper Sandler restated an “overweight” rating and issued a $65.00 price target (down from $85.00) on shares of Microchip Technology in a research report on Friday. Needham & Company LLC decreased their price target on shares of Microchip Technology from $85.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Susquehanna decreased their target price on shares of Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $77.11.

Microchip Technology Trading Down 2.3 %

Shares of NASDAQ MCHP opened at $51.89 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71. The company has a market cap of $27.87 billion, a PE ratio of 92.66 and a beta of 1.50. The company has a 50-day moving average of $57.71 and a two-hundred day moving average of $69.98. 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 quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share 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 12.41%. As a group, equities analysts expect that Microchip Technology Incorporated will post 1.3 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 3.51%. The ex-dividend date is Monday, February 24th. Microchip Technology’s dividend payout ratio is 325.00%.

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.