Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Boston Partners

Boston Partners lowered its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 18.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,930,763 shares of the semiconductor company’s stock after selling 1,753,820 shares during the period. Boston Partners owned about 1.48% of Microchip Technology worth $455,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Prospera Private Wealth LLC purchased a new position in shares of Microchip Technology in the 3rd quarter valued at about $29,000. Truvestments Capital LLC purchased a new position in shares of Microchip Technology in the 3rd quarter valued at approximately $34,000. Mainstream Capital Management LLC acquired a new stake in shares of Microchip Technology in the 4th quarter valued at approximately $26,000. Rakuten Securities Inc. lifted its holdings 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 valued at $27,000 after buying an additional 359 shares during the period. Finally, OFI Invest Asset Management acquired a new stake in shares of Microchip Technology in the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Trading Up 3.3 %

MCHP opened at $55.26 on Tuesday. Microchip Technology Incorporated has a 1-year low of $50.21 and a 1-year high of $100.57. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. The company has a market cap of $29.72 billion, a P/E ratio of 98.68 and a beta of 1.52. The company has a fifty day moving average price of $56.45 and a two-hundred day moving average price of $65.40.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results 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 return on equity of 12.62% and a net margin of 6.49%. Analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were paid a $0.455 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a yield of 3.29%. Microchip Technology’s dividend payout ratio is presently 325.00%.

Analyst Ratings Changes

Several equities analysts have weighed in on MCHP shares. Mizuho raised their price target on Microchip Technology from $58.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Stifel Nicolaus reduced their price objective on Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, December 3rd. StockNews.com cut Microchip Technology from a “hold” rating to a “sell” rating in a research note on Monday, February 10th. B. Riley reaffirmed a “buy” rating and set a $75.00 target price (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Finally, Needham & Company LLC increased their price objective on Microchip Technology from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Microchip Technology currently has a consensus rating of “Moderate Buy” and an average price target of $74.37.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction 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 owns 33,272 shares of the company’s stock, valued at $2,025,599.36. This represents a 10.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.10% of the company’s stock.

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.