Ontario Teachers Pension Plan Board decreased its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 77.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,944 shares of the semiconductor company's stock after selling 10,195 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Microchip Technology were worth $236,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Empowered Funds LLC raised its position in shares of Microchip Technology by 25.7% during the 3rd quarter. Empowered Funds LLC now owns 96,163 shares of the semiconductor company's stock worth $7,721,000 after purchasing an additional 19,663 shares during the period. Pinnacle Associates Ltd. grew its stake in Microchip Technology by 50.0% during the 3rd quarter. Pinnacle Associates Ltd. now owns 105,694 shares of the semiconductor company's stock worth $8,486,000 after buying an additional 35,213 shares during the last quarter. Swedbank AB acquired a new stake in Microchip Technology in the first quarter worth $1,079,000. Aigen Investment Management LP bought a new stake in Microchip Technology in the third quarter valued at $2,391,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Microchip Technology by 12.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 870,072 shares of the semiconductor company's stock valued at $69,355,000 after buying an additional 93,464 shares during the last quarter. Institutional investors own 91.51% of the company's stock.
MCHP stock opened at $66.69 on Friday. The firm has a market cap of $35.81 billion, a PE ratio of 46.64 and a beta of 1.53. Microchip Technology Incorporated has a 12 month low of $62.63 and a 12 month high of $100.57. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. The firm has a 50 day simple moving average of $74.59 and a 200 day simple moving average of $83.24.
Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.03. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. The company's quarterly revenue was down 48.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.54 EPS. Equities research analysts forecast that Microchip Technology Incorporated will post 1.38 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be paid a $0.455 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 2.73%. This is a boost from Microchip Technology's previous quarterly dividend of $0.45. Microchip Technology's dividend payout ratio (DPR) is currently 127.27%.
A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Microchip Technology from $110.00 to $100.00 and set an "overweight" rating on the stock in a report on Friday, August 2nd. KeyCorp dropped their price target on shares of Microchip Technology from $100.00 to $95.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 6th. B. Riley reduced their price objective on Microchip Technology from $110.00 to $103.00 and set a "buy" rating for the company in a research report on Friday, August 2nd. StockNews.com lowered Microchip Technology from a "hold" rating to a "sell" rating in a report on Thursday, November 7th. Finally, Citigroup cut their target price on Microchip Technology from $92.00 to $82.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Microchip Technology currently has a consensus rating of "Moderate Buy" and an average target price of $92.00.
Read Our Latest Report on 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.
Want to see what other hedge funds are holding MCHP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microchip Technology Incorporated (NASDAQ:MCHP - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Microchip Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Microchip Technology wasn't on the list.
While Microchip Technology currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.