345,550 Shares in Microchip Technology Incorporated (NASDAQ:MCHP) Acquired by DF Dent & Co. Inc.

DF Dent & Co. Inc. purchased a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 345,550 shares of the semiconductor company’s stock, valued at approximately $27,744,000. DF Dent & Co. Inc. owned approximately 0.06% of Microchip Technology at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. EP Wealth Advisors LLC increased its holdings in Microchip Technology by 1.8% in the 3rd quarter. EP Wealth Advisors LLC now owns 14,725 shares of the semiconductor company’s stock worth $1,182,000 after buying an additional 264 shares during the period. Kovitz Investment Group Partners LLC boosted its position in Microchip Technology by 13.6% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 48,604 shares of the semiconductor company’s stock worth $3,902,000 after purchasing an additional 5,834 shares in the last quarter. Sora Investors LLC grew its stake in shares of Microchip Technology by 165.0% during the 3rd quarter. Sora Investors LLC now owns 265,000 shares of the semiconductor company’s stock worth $21,277,000 after purchasing an additional 165,000 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Microchip Technology during the 3rd quarter valued at approximately $3,312,000. Finally, Royal London Asset Management Ltd. lifted its stake in shares of Microchip Technology by 2.6% in the 3rd quarter. Royal London Asset Management Ltd. now owns 211,102 shares of the semiconductor company’s stock valued at $16,949,000 after purchasing an additional 5,363 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Price Performance

Microchip Technology stock opened at $59.29 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88. The company’s 50 day simple moving average is $72.60 and its 200-day simple moving average is $81.57. Microchip Technology Incorporated has a 1 year low of $57.96 and a 1 year high of $100.57. The company has a market capitalization of $31.84 billion, a price-to-earnings ratio of 41.46 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the business earned $1.54 EPS. The firm’s quarterly revenue was down 48.4% on a year-over-year basis. As a group, equities research analysts expect that Microchip Technology Incorporated will post 1.33 earnings per share for the current year.

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were given a dividend of $0.455 per share. The ex-dividend date of this dividend was Friday, November 22nd. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.07%. Microchip Technology’s payout ratio is currently 127.27%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MCHP. Mizuho set a $95.00 price target on shares of Microchip Technology in a research report on Friday, October 18th. Truist Financial lowered shares of Microchip Technology from a “buy” rating to a “hold” rating and dropped their target price for the company from $89.00 to $80.00 in a research report on Monday, September 23rd. TD Cowen lowered their price target on Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $90.00 price objective on shares of Microchip Technology in a research note on Wednesday, November 6th. Finally, Citigroup lowered their target price on Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $90.95.

About Microchip Technology

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.