Microchip Technology Incorporated (NASDAQ:MCHP) Shares Acquired by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC grew its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 48.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 768 shares of the semiconductor company’s stock after acquiring an additional 251 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Microchip Technology were worth $62,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MCHP. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Microchip Technology by 2,390.5% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,291,290 shares of the semiconductor company’s stock valued at $209,653,000 after acquiring an additional 2,199,290 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of Microchip Technology by 18,944.8% in the first quarter. Clearbridge Investments LLC now owns 1,973,045 shares of the semiconductor company’s stock valued at $177,002,000 after acquiring an additional 1,962,685 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Microchip Technology by 2.9% in the first quarter. Vanguard Group Inc. now owns 68,583,723 shares of the semiconductor company’s stock valued at $6,152,646,000 after acquiring an additional 1,921,497 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Microchip Technology by 25.1% in the third quarter. Van ECK Associates Corp now owns 7,961,200 shares of the semiconductor company’s stock valued at $599,239,000 after acquiring an additional 1,597,263 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Microchip Technology by 425.3% in the first quarter. Canada Pension Plan Investment Board now owns 1,377,099 shares of the semiconductor company’s stock valued at $123,540,000 after acquiring an additional 1,114,962 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Trading Down 1.8 %

Shares of MCHP stock opened at $73.75 on Thursday. Microchip Technology Incorporated has a fifty-two week low of $71.76 and a fifty-two week high of $100.57. The stock has a market cap of $39.57 billion, a P/E ratio of 29.50 and a beta of 1.53. The business has a fifty day simple moving average of $77.05 and a 200-day simple moving average of $85.12. The company has a quick ratio of 1.08, a current ratio of 1.94 and a debt-to-equity ratio of 0.96.

Microchip Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a $0.455 dividend. The ex-dividend date is Friday, November 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.47%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio (DPR) is currently 72.80%.

Analysts Set New Price Targets

MCHP has been the subject of several recent research reports. Piper Sandler decreased their price target on Microchip Technology from $100.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday. Needham & Company LLC decreased their price target on Microchip Technology from $96.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday. Rosenblatt Securities reaffirmed a “buy” rating and set a $90.00 price target on shares of Microchip Technology in a report on Wednesday. Susquehanna decreased their price target on Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday. Finally, TD Cowen decreased their price target on Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $92.00.

Insider Activity

In related news, CFO James Eric Bjornholt sold 2,154 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $81.50, for a total transaction of $175,551.00. Following the sale, the chief financial officer now owns 33,257 shares of the company’s stock, valued at $2,710,445.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.10% of the company’s stock.

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.