DF Dent & Co. Inc. Purchases 46,608 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

DF Dent & Co. Inc. raised its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 13.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 392,158 shares of the semiconductor company’s stock after purchasing an additional 46,608 shares during the quarter. DF Dent & Co. Inc.’s holdings in Microchip Technology were worth $22,490,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Mainstream Capital Management LLC bought a new stake in shares of Microchip Technology during the fourth quarter valued at approximately $26,000. Rakuten Securities Inc. boosted its stake in Microchip Technology by 309.5% during the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 359 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of Microchip Technology in the 4th quarter worth $29,000. Financial Life Planners bought a new stake in shares of Microchip Technology in the 4th quarter worth $32,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in shares of Microchip Technology in the fourth quarter worth $34,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Stock Performance

MCHP opened at $48.93 on Thursday. The company has a 50 day simple moving average of $55.07 and a two-hundred day simple moving average of $63.30. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The firm has a market cap of $26.32 billion, a P/E ratio of 87.38 and a beta of 1.52. Microchip Technology Incorporated has a 1-year low of $46.83 and a 1-year high of $100.57.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. Equities analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 3.72%. The ex-dividend date was Monday, February 24th. Microchip Technology’s payout ratio is currently 325.00%.

Insider Buying and Selling

In related news, CFO James Eric Bjornholt sold 3,724 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the sale, the chief financial officer now directly owns 33,272 shares in the company, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MCHP has been the subject of several research analyst reports. Morgan Stanley reduced 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. Piper Sandler reissued an “overweight” rating and set a $65.00 price objective (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. KeyCorp dropped their target price on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. Bank of America lowered shares of Microchip Technology from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $80.00 to $65.00 in a research note on Monday, December 16th. Finally, StockNews.com lowered Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $74.37.

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.