Madison Investment Advisors LLC Purchases New Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Madison Investment Advisors LLC acquired a new position in Microchip Technology Incorporated (NASDAQ:MCHP) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,371,603 shares of the semiconductor company’s stock, valued at approximately $78,661,000. Madison Investment Advisors LLC owned 0.26% of Microchip Technology at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Mainstream Capital Management LLC bought a new position in shares of Microchip Technology during the 4th quarter worth about $26,000. Rakuten Securities Inc. lifted its stake in Microchip Technology by 309.5% during the fourth quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 359 shares during the period. Prospera Private Wealth LLC acquired a new stake in Microchip Technology during the third quarter valued at approximately $29,000. OFI Invest Asset Management acquired a new position in shares of Microchip Technology in the 4th quarter worth approximately $29,000. Finally, Financial Life Planners acquired a new position in shares of Microchip Technology in the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

MCHP has been the subject of a number of analyst reports. Morgan Stanley cut their price objective on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. StockNews.com cut shares of Microchip Technology from a “hold” rating to a “sell” rating in a research note on Monday, February 10th. Needham & Company LLC increased their price target on Microchip Technology from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Evercore ISI boosted their price objective on Microchip Technology from $65.00 to $71.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 4th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $65.00 price target (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Two 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 given a strong buy rating to the company. Based on data from MarketBeat, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus target price of $74.37.

Microchip Technology Trading Down 0.7 %

Shares of MCHP stock opened at $51.90 on Thursday. The company has a market capitalization of $27.91 billion, a PE ratio of 92.68 and a beta of 1.52. The firm has a 50 day moving average price of $56.69 and a two-hundred day moving average price of $66.07. 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 12-month low of $50.21 and a 12-month high of $100.57.

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 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%. As a group, analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is presently 325.00%.

Insider Activity

In other news, CFO James Eric Bjornholt sold 3,724 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the completion of the transaction, the chief financial officer now owns 33,272 shares of the company’s stock, valued at $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 available through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Microchip Technology 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.