E Fund Management Co. Ltd. Has $997,000 Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

E Fund Management Co. Ltd. boosted its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 37.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,388 shares of the semiconductor company’s stock after buying an additional 4,774 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Microchip Technology were worth $997,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of MCHP. Janney Montgomery Scott LLC increased its holdings in shares of Microchip Technology by 1.2% in the third quarter. Janney Montgomery Scott LLC now owns 94,647 shares of the semiconductor company’s stock worth $7,599,000 after acquiring an additional 1,138 shares in the last quarter. Kornitzer Capital Management Inc. KS acquired a new position in shares of Microchip Technology during the third quarter worth about $281,000. Summit Global Investments boosted its position in Microchip Technology by 2.5% during the third quarter. Summit Global Investments now owns 8,463 shares of the semiconductor company’s stock valued at $679,000 after purchasing an additional 207 shares during the last quarter. CWA Asset Management Group LLC acquired a new position in Microchip Technology during the third quarter valued at approximately $3,830,000. Finally, United Bank boosted its position in Microchip Technology by 21.0% during the third quarter. United Bank now owns 9,871 shares of the semiconductor company’s stock valued at $793,000 after purchasing an additional 1,712 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the company’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 owns 33,272 shares in the company, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.10% of the company’s stock.

Microchip Technology Trading Up 2.6 %

Shares of MCHP opened at $59.77 on Friday. Microchip Technology Incorporated has a 52-week low of $50.21 and a 52-week high of $100.57. The business’s fifty day moving average is $56.98 and its 200-day moving average is $66.77. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. The firm has a market cap of $32.15 billion, a price-to-earnings ratio of 106.73 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data 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 net margin of 6.49% and a return on equity of 12.62%. Equities analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is 325.00%.

Analyst Ratings Changes

Several brokerages recently commented on MCHP. B. Riley reissued a “buy” rating and set a $75.00 price target (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Stifel Nicolaus reduced their price target on Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, December 3rd. KeyCorp reduced their price target on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. Evercore ISI increased their price target on Microchip Technology from $65.00 to $71.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Mizuho raised their price objective on Microchip Technology from $58.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $74.37.

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.