Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. lowered its position in Microchip Technology Incorporated (NASDAQ:MCHPFree Report) by 17.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,372 shares of the semiconductor company’s stock after selling 292 shares during the period. Raleigh Capital Management Inc.’s holdings in Microchip Technology were worth $79,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MCHP. Assenagon Asset Management S.A. grew its holdings in Microchip Technology by 9,901.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock valued at $163,886,000 after purchasing an additional 2,829,082 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Microchip Technology by 2,390.5% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,291,290 shares of the semiconductor company’s stock worth $209,653,000 after buying an additional 2,199,290 shares in the last quarter. Van ECK Associates Corp grew its stake in Microchip Technology by 25.1% in the 3rd quarter. Van ECK Associates Corp now owns 7,961,200 shares of the semiconductor company’s stock valued at $599,239,000 after acquiring an additional 1,597,263 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Microchip Technology by 78.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,189,390 shares of the semiconductor company’s stock valued at $200,329,000 after acquiring an additional 961,801 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in Microchip Technology by 30.2% during the third quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company’s stock worth $264,430,000 after acquiring an additional 776,408 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. StockNews.com upgraded shares of Microchip Technology from a “sell” rating to a “hold” rating in a research report on Friday, December 13th. The Goldman Sachs Group lowered their target price on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Mizuho cut their price target on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating for the company in a report on Friday, January 10th. TD Cowen reduced their price objective on Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. Finally, Citigroup dropped their price objective on Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.00.

Read Our Latest Report on MCHP

Microchip Technology Trading Up 1.9 %

MCHP stock opened at $59.57 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The company has a market cap of $31.99 billion, a price-to-earnings ratio of 41.66 and a beta of 1.52. The business has a fifty day simple moving average of $60.53 and a 200-day simple moving average of $72.98. Microchip Technology Incorporated has a 52 week low of $54.47 and a 52 week high of $100.57.

Microchip Technology (NASDAQ:MCHPGet Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.43 by $0.03. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. The firm’s revenue was down 48.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.54 earnings per share. On average, equities research analysts expect that Microchip Technology Incorporated will post 1.31 EPS for the current year.

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 3.06%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date was Friday, November 22nd. Microchip Technology’s payout ratio is 127.27%.

Microchip Technology Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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