FreeGulliver LLC Makes New $250,000 Investment in Microchip Technology Incorporated (NASDAQ:MCHP)

FreeGulliver LLC purchased a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,362 shares of the semiconductor company’s stock, valued at approximately $250,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MCHP. Mainstream Capital Management LLC acquired a new stake in Microchip Technology during the 4th quarter worth about $26,000. Rakuten Securities Inc. boosted its stake in shares of Microchip Technology by 309.5% during the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 359 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Microchip Technology during the 3rd quarter worth about $29,000. OFI Invest Asset Management purchased a new stake in shares of Microchip Technology during the 4th quarter worth about $29,000. Finally, Financial Life Planners purchased a new stake in shares of Microchip Technology during the 4th quarter worth about $32,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the sale, the chief financial officer now owns 33,272 shares in the company, valued at $2,025,599.36. This trade represents a 10.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.10% of the company’s stock.

Microchip Technology Stock Down 1.9 %

MCHP stock opened at $54.20 on Wednesday. The company has a market cap of $29.15 billion, a price-to-earnings ratio of 96.79 and a beta of 1.52. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. Microchip Technology Incorporated has a 12 month low of $50.21 and a 12 month high of $100.57. The firm has a 50-day moving average of $56.38 and a two-hundred day moving average of $65.21.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data 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%. As a group, analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were issued a dividend of $0.455 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.36%. Microchip Technology’s dividend payout ratio is currently 325.00%.

Analysts Set New Price Targets

MCHP has been the topic of several recent analyst reports. TD Cowen increased their target price on shares of Microchip Technology from $50.00 to $60.00 and gave the stock a “hold” rating in a research note on Tuesday, March 4th. StockNews.com lowered shares of Microchip Technology from a “hold” rating to a “sell” rating in a research note on Monday, February 10th. Morgan Stanley lowered their target price on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Bank of America lowered shares of Microchip Technology from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $80.00 to $65.00 in a research note on Monday, December 16th. Finally, Mizuho raised their price target on shares of Microchip Technology from $58.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.