Coign Capital Advisors LLC Takes Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Coign Capital Advisors LLC purchased a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 9,280 shares of the semiconductor company’s stock, valued at approximately $532,000.

Several other hedge funds also recently added to or reduced their stakes in MCHP. Covestor Ltd grew its position in Microchip Technology by 346.3% in the 4th quarter. Covestor Ltd now owns 1,455 shares of the semiconductor company’s stock valued at $83,000 after acquiring an additional 1,129 shares during the last quarter. Legacy Financial Advisors Inc. grew its holdings in shares of Microchip Technology by 8.1% in the fourth quarter. Legacy Financial Advisors Inc. now owns 4,176 shares of the semiconductor company’s stock worth $239,000 after purchasing an additional 312 shares during the last quarter. DRW Securities LLC purchased a new position in Microchip Technology in the 4th quarter worth about $292,000. APG Asset Management N.V. lifted its holdings in Microchip Technology by 780.3% during the 4th quarter. APG Asset Management N.V. now owns 315,870 shares of the semiconductor company’s stock valued at $17,494,000 after buying an additional 279,989 shares in the last quarter. Finally, Muhlenkamp & Co. Inc. boosted its position in Microchip Technology by 0.4% in the 4th quarter. Muhlenkamp & Co. Inc. now owns 117,892 shares of the semiconductor company’s stock valued at $6,761,000 after buying an additional 487 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Price Performance

Shares of MCHP opened at $38.81 on Friday. The company has a 50 day moving average of $52.41 and a two-hundred day moving average of $61.29. The company has a market cap of $20.87 billion, a price-to-earnings ratio of 69.30 and a beta of 1.51. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. Microchip Technology Incorporated has a twelve month low of $34.13 and a twelve month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share 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%. As a group, analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently disclosed 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 was Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 4.69%. Microchip Technology’s dividend payout ratio (DPR) is currently 325.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MCHP shares. KeyCorp reduced their target price on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. StockNews.com lowered Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Bank of America downgraded Microchip Technology from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $80.00 to $65.00 in a research report on Monday, December 16th. Morgan Stanley decreased 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. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $70.00 target price on shares of Microchip Technology in a report 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $74.37.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $2,025,599.36. This represents a 10.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.10% of the stock is currently owned by insiders.

Microchip Technology 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.