Villere ST Denis J & Co. LLC Boosts Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Villere ST Denis J & Co. LLC lifted its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 10.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 365,973 shares of the semiconductor company’s stock after acquiring an additional 33,334 shares during the period. Villere ST Denis J & Co. LLC’s holdings in Microchip Technology were worth $20,989,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Creative Planning grew its position in Microchip Technology by 0.6% during the 3rd quarter. Creative Planning now owns 116,549 shares of the semiconductor company’s stock worth $9,358,000 after purchasing an additional 719 shares during the last quarter. Swedbank AB grew its position in Microchip Technology by 62.3% during the 3rd quarter. Swedbank AB now owns 34,885 shares of the semiconductor company’s stock worth $2,801,000 after purchasing an additional 13,392 shares during the last quarter. Vontobel Holding Ltd. grew its position in Microchip Technology by 24.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 67,532 shares of the semiconductor company’s stock worth $5,422,000 after purchasing an additional 13,245 shares during the last quarter. nVerses Capital LLC purchased a new position in Microchip Technology during the 3rd quarter worth $104,000. Finally, Ellsworth Advisors LLC grew its position in Microchip Technology by 2.0% during the 3rd quarter. Ellsworth Advisors LLC now owns 29,573 shares of the semiconductor company’s stock worth $2,374,000 after purchasing an additional 571 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Stock Up 2.8 %

Shares of NASDAQ MCHP opened at $55.76 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. Microchip Technology Incorporated has a 52 week low of $50.21 and a 52 week high of $100.57. The firm has a 50-day moving average price of $56.86 and a 200 day moving average price of $69.04. The stock has a market capitalization of $29.94 billion, a price-to-earnings ratio of 99.57 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.41% and a net margin of 6.49%. Equities research analysts anticipate that Microchip Technology Incorporated will post 1.3 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders 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 3.26%. The ex-dividend date is Monday, February 24th. Microchip Technology’s payout ratio is currently 325.00%.

Wall Street Analyst Weigh In

MCHP has been the topic of several research reports. Piper Sandler reissued an “overweight” rating and set a $65.00 price objective (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Needham & Company LLC lowered their price objective 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, February 7th. Raymond James reaffirmed a “strong-buy” rating and issued a $60.00 target price (down previously from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. The Goldman Sachs Group lowered their target price on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Finally, 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 report on Wednesday, November 6th. Two research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $77.11.

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.