Kohmann Bosshard Financial Services LLC Makes New Investment in Microchip Technology Incorporated (NASDAQ:MCHP)

Kohmann Bosshard Financial Services LLC bought a new position in Microchip Technology Incorporated (NASDAQ:MCHP) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 600 shares of the semiconductor company’s stock, valued at approximately $34,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MCHP. Van ECK Associates Corp boosted its holdings in shares of Microchip Technology by 39.3% in the fourth 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 period. Assenagon Asset Management S.A. boosted its holdings in shares of 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 worth $163,886,000 after buying an additional 2,829,082 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Microchip Technology by 30.2% in the third quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company’s stock worth $264,430,000 after buying an additional 776,408 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Microchip Technology by 20.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,751,987 shares of the semiconductor company’s stock worth $220,957,000 after buying an additional 460,697 shares during the period. Finally, DF Dent & Co. Inc. acquired a new position in shares of Microchip Technology in the third quarter worth about $27,744,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO James Eric Bjornholt sold 3,724 shares of the business’s 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MCHP. Mizuho decreased their price target on shares of Microchip Technology from $85.00 to $72.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Stifel Nicolaus decreased their price target on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Jefferies Financial Group decreased their price target on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. StockNews.com cut shares of Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 10th. Finally, KeyCorp decreased their price target on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, February 7th. Two research 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.11.

Microchip Technology Trading Down 1.5 %

NASDAQ:MCHP opened at $57.95 on Tuesday. Microchip Technology Incorporated has a 12 month low of $50.21 and a 12 month high of $100.57. The firm has a market cap of $31.17 billion, a price-to-earnings ratio of 103.48 and a beta of 1.50. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. The company’s 50 day moving average is $56.94 and its 200-day moving average is $67.20.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. Equities analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date is Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is currently 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.