Blueshift Asset Management LLC Acquires Shares of 3,652 Microchip Technology Incorporated (NASDAQ:MCHP)

Blueshift Asset Management LLC acquired a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,652 shares of the semiconductor company’s stock, valued at approximately $209,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC purchased a new stake in Microchip Technology in the third quarter valued at approximately $29,000. Truvestments Capital LLC purchased a new stake in Microchip Technology in the third quarter valued at approximately $34,000. Mainstream Capital Management LLC purchased a new stake in Microchip Technology in the fourth quarter valued at approximately $26,000. Rakuten Securities Inc. lifted its stake in Microchip Technology by 309.5% in the fourth quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 359 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new stake in shares of Microchip Technology during the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Morgan Stanley cut their price target on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Evercore ISI upped their price target on Microchip Technology from $65.00 to $71.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 4th. Rosenblatt Securities restated a “buy” rating and set a $70.00 price target on shares of Microchip Technology in a research note on Tuesday, March 4th. Stifel Nicolaus cut their price target on Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, December 3rd. Finally, KeyCorp cut their price target on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $74.37.

Microchip Technology Stock Up 1.4 %

MCHP opened at $51.72 on Friday. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. The firm has a market cap of $27.82 billion, a P/E ratio of 92.36 and a beta of 1.52. Microchip Technology Incorporated has a 52 week low of $49.92 and a 52 week high of $100.57. The business’s fifty day simple moving average is $56.17 and its 200 day simple moving average is $64.74.

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

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were given a dividend of $0.455 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.52%. Microchip Technology’s dividend payout ratio (DPR) is presently 325.00%.

Insider Buying and Selling

In other news, CFO James Eric Bjornholt sold 3,724 shares of the firm’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 transaction, the chief financial officer now directly owns 33,272 shares in the company, valued at $2,025,599.36. This trade represents a 10.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.10% of the stock is currently owned by company insiders.

Microchip Technology Company Profile

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.