Microchip Technology Incorporated (NASDAQ:MCHP) Shares Acquired by Disciplined Growth Investors Inc. MN

Disciplined Growth Investors Inc. MN lifted its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 4.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,819,855 shares of the semiconductor company’s stock after acquiring an additional 79,473 shares during the quarter. Microchip Technology comprises approximately 2.8% of Disciplined Growth Investors Inc. MN’s holdings, making the stock its 13th biggest holding. Disciplined Growth Investors Inc. MN’s holdings in Microchip Technology were worth $146,116,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quadrature Capital Ltd acquired a new position in shares of Microchip Technology during the 3rd quarter valued at $3,312,000. Benjamin Edwards Inc. lifted its holdings in shares of Microchip Technology by 5,185.4% during the 3rd quarter. Benjamin Edwards Inc. now owns 9,408 shares of the semiconductor company’s stock valued at $755,000 after acquiring an additional 9,230 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Microchip Technology by 25.7% during the 3rd quarter. Empowered Funds LLC now owns 96,163 shares of the semiconductor company’s stock valued at $7,721,000 after acquiring an additional 19,663 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its holdings in shares of Microchip Technology by 52.1% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 24,713 shares of the semiconductor company’s stock valued at $1,984,000 after acquiring an additional 8,467 shares in the last quarter. Finally, Harvey Partners LLC acquired a new position in shares of Microchip Technology during the 3rd quarter valued at $20,554,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Stock Performance

Shares of Microchip Technology stock opened at $61.87 on Tuesday. The firm has a market cap of $33.22 billion, a PE ratio of 43.27 and a beta of 1.50. The firm’s 50-day simple moving average is $71.80 and its 200-day simple moving average is $80.83. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88. Microchip Technology Incorporated has a 1 year low of $57.96 and a 1 year high of $100.57.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the business posted $1.54 EPS. The company’s revenue for the quarter was down 48.4% on a year-over-year basis. Equities analysts forecast that Microchip Technology Incorporated will post 1.33 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date was Friday, November 22nd. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio is currently 127.27%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MCHP shares. KeyCorp reduced their target price on shares of Microchip Technology from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, December 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $85.00 price objective on shares of Microchip Technology in a report on Tuesday, December 3rd. Mizuho set a $95.00 price objective on shares of Microchip Technology in a report on Friday, October 18th. TD Cowen cut their price objective on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $90.00 price objective on shares of Microchip Technology in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Microchip Technology has an average rating of “Moderate Buy” and a consensus target price of $90.95.

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.