AGF Management Ltd. Invests $405,000 in Microchip Technology Incorporated (NASDAQ:MCHP)

AGF Management Ltd. bought a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,058 shares of the semiconductor company’s stock, valued at approximately $405,000.

A number of other institutional investors also recently modified their holdings of the company. Metis Global Partners LLC grew its position in Microchip Technology by 1.0% during the 3rd quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company’s stock worth $1,378,000 after acquiring an additional 172 shares during the last quarter. Plato Investment Management Ltd grew its position in Microchip Technology by 5.8% during the 3rd quarter. Plato Investment Management Ltd now owns 3,499 shares of the semiconductor company’s stock worth $281,000 after acquiring an additional 191 shares during the last quarter. Empower Advisory Group LLC grew its position in Microchip Technology by 7.3% during the 3rd quarter. Empower Advisory Group LLC now owns 3,470 shares of the semiconductor company’s stock worth $279,000 after acquiring an additional 237 shares during the last quarter. Coldstream Capital Management Inc. grew its position in Microchip Technology by 2.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 11,052 shares of the semiconductor company’s stock worth $878,000 after acquiring an additional 260 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its position in Microchip Technology by 1.8% during the 3rd quarter. EP Wealth Advisors LLC now owns 14,725 shares of the semiconductor company’s stock worth $1,182,000 after acquiring an additional 264 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of the business’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 completion of the transaction, the chief financial officer now owns 33,272 shares in the company, valued at $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is owned by company insiders.

Microchip Technology Stock Up 3.1 %

Shares of NASDAQ:MCHP opened at $53.50 on Friday. The stock has a fifty day simple moving average of $56.51 and a two-hundred day simple moving average of $65.68. The stock has a market capitalization of $28.77 billion, a price-to-earnings ratio of 95.54 and a beta of 1.52. Microchip Technology Incorporated has a 12-month low of $50.21 and a 12-month high of $100.57. 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 (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (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%. On average, research analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology’s payout ratio is 325.00%.

Analysts Set New Price Targets

Several research firms recently issued reports on MCHP. Raymond James restated a “strong-buy” rating and set a $60.00 price target (down from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. Rosenblatt Securities restated a “buy” rating and set a $70.00 price target on shares of Microchip Technology in a research report on Tuesday, March 4th. Evercore ISI lifted their price objective on Microchip Technology from $65.00 to $71.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Morgan Stanley cut their price objective on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Finally, Stifel Nicolaus cut their price objective on Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average price target 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.