PrairieView Partners LLC Buys 493 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

PrairieView Partners LLC lifted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 70.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,193 shares of the semiconductor company’s stock after acquiring an additional 493 shares during the period. PrairieView Partners LLC’s holdings in Microchip Technology were worth $68,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Van ECK Associates Corp boosted its stake in shares of Microchip Technology by 39.3% in the fourth quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company’s stock worth $636,184,000 after acquiring an additional 3,131,807 shares during the period. Franklin Resources Inc. lifted its position in shares of Microchip Technology by 30.2% in the third quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company’s stock worth $264,430,000 after buying an additional 776,408 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Microchip Technology by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,026,946 shares of the semiconductor company’s stock worth $243,034,000 after buying an additional 25,872 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Microchip Technology by 9,901.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock worth $163,886,000 after buying an additional 2,829,082 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Microchip Technology by 20.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,751,987 shares of the semiconductor company’s stock worth $220,957,000 after buying an additional 460,697 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Price Performance

NASDAQ:MCHP opened at $53.85 on Thursday. Microchip Technology Incorporated has a 52 week low of $50.21 and a 52 week high of $100.57. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $28.92 billion, a PE ratio of 96.16 and a beta of 1.50. The stock’s 50-day moving average price is $57.09 and its 200-day moving average price is $69.25.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results 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 12.41%. As a group, equities analysts expect that Microchip Technology Incorporated will post 1.3 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be issued a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 3.38%. The ex-dividend date is Monday, February 24th. Microchip Technology’s payout ratio is 325.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MCHP shares. Citigroup decreased their target price on Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Bank of America downgraded Microchip Technology from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $80.00 to $65.00 in a research report on Monday, December 16th. Mizuho reduced their price target on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. B. Riley reissued a “buy” rating and issued a $75.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Finally, Raymond James reissued a “strong-buy” rating and issued a $60.00 price objective (down previously from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. Two 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. Based on data from MarketBeat.com, Microchip Technology currently has a consensus rating of “Moderate Buy” and an average target price of $77.11.

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.