Boston Partners boosted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP – Get Rating) by 3.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,935,488 shares of the semiconductor company’s stock after buying an additional 269,862 shares during the period. Boston Partners owned 1.45% of Microchip Technology worth $559,863,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Microchip Technology by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 65,524,560 shares of the semiconductor company’s stock worth $3,998,964,000 after buying an additional 417,578 shares during the last quarter. Macquarie Group Ltd. raised its holdings in shares of Microchip Technology by 1.6% in the 3rd quarter. Macquarie Group Ltd. now owns 8,517,994 shares of the semiconductor company’s stock worth $519,852,000 after purchasing an additional 131,879 shares during the period. Northern Trust Corp raised its holdings in shares of Microchip Technology by 1.7% in the 1st quarter. Northern Trust Corp now owns 7,553,578 shares of the semiconductor company’s stock worth $567,576,000 after purchasing an additional 123,806 shares during the period. Platinum Investment Management Ltd. raised its holdings in shares of Microchip Technology by 3.5% in the 3rd quarter. Platinum Investment Management Ltd. now owns 4,018,598 shares of the semiconductor company’s stock worth $245,255,000 after purchasing an additional 137,009 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Microchip Technology by 13.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,821,451 shares of the semiconductor company’s stock worth $172,211,000 after purchasing an additional 329,816 shares during the period. 89.85% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on MCHP shares. Citigroup raised their price objective on Microchip Technology from $74.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, February 3rd. StockNews.com started coverage on Microchip Technology in a report on Thursday, March 16th. They set a “buy” rating on the stock. Wells Fargo & Company raised their target price on Microchip Technology from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Friday, February 3rd. Mizuho raised their target price on Microchip Technology from $72.00 to $79.00 and gave the company a “neutral” rating in a report on Friday, February 3rd. Finally, Susquehanna raised their target price on Microchip Technology from $85.00 to $100.00 and gave the company a “positive” rating in a report on Friday, February 3rd. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.58.
Microchip Technology Stock Performance
Shares of MCHP traded up $0.25 during mid-day trading on Wednesday, hitting $76.37. The stock had a trading volume of 1,595,529 shares, compared to its average volume of 4,640,113. Microchip Technology Incorporated has a fifty-two week low of $54.33 and a fifty-two week high of $87.76. The company has a market cap of $41.84 billion, a PE ratio of 20.63, a PEG ratio of 0.72 and a beta of 1.59. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 1.04. The company’s fifty day simple moving average is $79.92 and its two-hundred day simple moving average is $75.72.
Microchip Technology (NASDAQ:MCHP – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The semiconductor company reported $1.48 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.48. Microchip Technology had a return on equity of 50.01% and a net margin of 25.73%. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.15 billion. On average, equities analysts expect that Microchip Technology Incorporated will post 5.73 earnings per share for the current year.
Microchip Technology Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 7th. Investors of record on Tuesday, February 21st were given a dividend of $0.358 per share. The ex-dividend date of this dividend was Friday, February 17th. This represents a $1.43 dividend on an annualized basis and a yield of 1.88%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.33. Microchip Technology’s payout ratio is currently 38.75%.
About Microchip Technology
Microchip Technology, Inc engages in the provision of semiconductor products. It operates through the Semiconductor Products and Technology Licensing segments. The Semiconductor Products segment is involved in designing, developing, manufacturing, and marketing microcontrollers, development tools and analog, interface, mixed signal, connectivity devices, and timing products.