NEOS Investment Management LLC Acquires 13,674 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

NEOS Investment Management LLC raised its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 24.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 68,928 shares of the semiconductor company’s stock after purchasing an additional 13,674 shares during the period. NEOS Investment Management LLC’s holdings in Microchip Technology were worth $3,953,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Mainstream Capital Management LLC acquired a new stake in Microchip Technology during the fourth quarter worth approximately $26,000. Rakuten Securities Inc. lifted its position in shares of Microchip Technology by 309.5% during the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 359 shares during the period. OFI Invest Asset Management acquired a new stake in shares of Microchip Technology during the 4th quarter worth $29,000. Financial Life Planners bought a new position in shares of Microchip Technology in the fourth quarter worth $32,000. Finally, Truvestments Capital LLC acquired a new position in Microchip Technology in the third quarter valued at about $34,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $50.79 on Friday. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. Microchip Technology Incorporated has a 52 week low of $49.92 and a 52 week high of $100.57. The firm has a 50 day moving average of $55.83 and a 200-day moving average of $64.16. The company has a market cap of $27.32 billion, a price-to-earnings ratio of 90.70 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last posted 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 net margin of 6.49% and a return on equity of 12.62%. On average, equities analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is currently 325.00%.

Analyst Ratings Changes

MCHP has been the topic of a number of analyst reports. Stifel Nicolaus reduced their price objective on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, December 3rd. The Goldman Sachs Group decreased their price objective on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Evercore ISI upped their target price on Microchip Technology from $65.00 to $71.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 4th. KeyCorp decreased their price target on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a research note on Friday, February 7th. Finally, Mizuho upped their price objective on Microchip Technology from $58.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.37.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the company’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 in the company, valued at approximately $2,025,599.36. This represents a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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.