Intact Investment Management Inc. Grows Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Intact Investment Management Inc. raised its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 4.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 80,700 shares of the semiconductor company’s stock after acquiring an additional 3,800 shares during the period. Intact Investment Management Inc.’s holdings in Microchip Technology were worth $4,628,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Metis Global Partners LLC increased its position in shares of Microchip Technology by 1.0% in the 3rd quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company’s stock worth $1,378,000 after purchasing an additional 172 shares during the last quarter. Plato Investment Management Ltd increased its position in shares of Microchip Technology by 5.8% in the 3rd quarter. Plato Investment Management Ltd now owns 3,499 shares of the semiconductor company’s stock worth $281,000 after purchasing an additional 191 shares during the last quarter. Empower Advisory Group LLC grew its position in shares of Microchip Technology by 7.3% during the 3rd quarter. Empower Advisory Group LLC now owns 3,470 shares of the semiconductor company’s stock valued at $279,000 after buying an additional 237 shares during the last quarter. Coldstream Capital Management Inc. grew its position in shares of Microchip Technology by 2.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 11,052 shares of the semiconductor company’s stock valued at $878,000 after buying an additional 260 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its position in shares of Microchip Technology by 1.8% during the 3rd quarter. EP Wealth Advisors LLC now owns 14,725 shares of the semiconductor company’s stock valued at $1,182,000 after buying an additional 264 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Trading Up 3.1 %

Shares of NASDAQ:MCHP opened at $53.50 on Friday. The company has a 50 day moving average of $56.51 and a 200-day moving average of $65.79. The firm has a market cap of $28.77 billion, a P/E ratio of 95.54 and a beta of 1.52. Microchip Technology Incorporated has a twelve month low of $50.21 and a twelve month 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.

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

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology’s dividend payout ratio is currently 325.00%.

Insider Transactions at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the sale, the chief financial officer now directly owns 33,272 shares in the company, valued at $2,025,599.36. The trade was a 10.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MCHP shares. Morgan Stanley lowered their price objective on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. B. Riley reaffirmed a “buy” rating and set a $75.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Bank of America downgraded shares of Microchip Technology from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $80.00 to $65.00 in a research report on Monday, December 16th. StockNews.com downgraded shares of Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Finally, Stifel Nicolaus lowered their price objective on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, December 3rd. Two equities 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average target price of $74.37.

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.