Y Intercept Hong Kong Ltd Acquires Shares of 52,198 Microchip Technology Incorporated (NASDAQ:MCHP)

Y Intercept Hong Kong Ltd bought a new position in Microchip Technology Incorporated (NASDAQ:MCHP) in the 4th quarter, Holdings Channel.com reports. The firm bought 52,198 shares of the semiconductor company’s stock, valued at approximately $2,994,000.

Other large investors have also modified their holdings of the company. International Assets Investment Management LLC boosted its holdings in Microchip Technology by 8,163.6% in the 3rd quarter. International Assets Investment Management LLC now owns 234,768 shares of the semiconductor company’s stock worth $18,850,000 after acquiring an additional 231,927 shares during the period. Dakota Wealth Management boosted its stake in shares of Microchip Technology by 13.8% in the third quarter. Dakota Wealth Management now owns 5,951 shares of the semiconductor company’s stock valued at $478,000 after purchasing an additional 722 shares during the period. Forsta AP Fonden boosted its stake in shares of Microchip Technology by 17.1% in the third quarter. Forsta AP Fonden now owns 111,800 shares of the semiconductor company’s stock valued at $8,976,000 after purchasing an additional 16,300 shares during the period. Arkadios Wealth Advisors grew its holdings in Microchip Technology by 74.6% during the 3rd quarter. Arkadios Wealth Advisors now owns 6,214 shares of the semiconductor company’s stock valued at $499,000 after purchasing an additional 2,656 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in Microchip Technology by 6.1% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 269,062 shares of the semiconductor company’s stock worth $21,545,000 after buying an additional 15,373 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analysts Set New Price Targets

MCHP has been the subject of a number of analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $90.00 price objective on shares of Microchip Technology in a research report on Thursday, February 6th. Citigroup reduced their price target on Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Morgan Stanley lowered their price objective on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Mizuho cut their target price on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Finally, 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 research report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.11.

Microchip Technology Price Performance

Shares of NASDAQ:MCHP opened at $60.83 on Tuesday. The company has a market cap of $32.72 billion, a PE ratio of 108.63 and a beta of 1.50. Microchip Technology Incorporated has a fifty-two week low of $50.21 and a fifty-two week high of $100.57. The firm has a 50-day simple moving average of $56.74 and a 200 day simple moving average of $67.88. 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 (NASDAQ:MCHP) last issued its 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%. On average, sell-side analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The business 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 $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 2.99%. The ex-dividend date is Monday, February 24th. Microchip Technology’s dividend payout ratio is presently 325.00%.

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.