Yousif Capital Management LLC boosted its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP – Get Rating ) by 3.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 81,317 shares of the semiconductor company’s stock after buying an additional 2,491 shares during the quarter. Yousif Capital Management LLC’s holdings in Microchip Technology were worth $5,713,000 as of its most recent filing with the Securities & Exchange Commission.
→ My #1 dividend stock for LIFETIME income. (From the Oxford Club)
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Microchip Technology by 0.6% in the third quarter. Vanguard Group Inc. now owns 65,524,560 shares of the semiconductor company’s stock valued at $3,998,964,000 after acquiring an additional 417,578 shares during the last quarter. Dodge & Cox boosted its holdings in Microchip Technology by 1.7% in the second quarter. Dodge & Cox now owns 32,228,436 shares of the semiconductor company’s stock valued at $1,871,828,000 after acquiring an additional 551,092 shares during the last quarter. Macquarie Group Ltd. grew its holdings in Microchip Technology by 1.6% in the third quarter. Macquarie Group Ltd. now owns 8,517,994 shares of the semiconductor company’s stock valued at $519,852,000 after acquiring an additional 131,879 shares during the last quarter. Boston Partners boosted its holdings in Microchip Technology by 17.2% in the third quarter. Boston Partners now owns 7,665,626 shares of the semiconductor company’s stock valued at $467,751,000 after acquiring an additional 1,123,669 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Microchip Technology by 1.7% in the first quarter. Northern Trust Corp now owns 7,553,578 shares of the semiconductor company’s stock valued at $567,576,000 after acquiring an additional 123,806 shares during the last quarter. 89.85% of the shares are owned by hedge funds and other institutional investors.
Promote and demote an analyst
Several research firms have weighed in on MCHP. Credit Suisse Group boosted their target price on Microchip Technology from $85.00 to $98.00 and gave the stock a “neutral” rating in a research note on Friday, February 3rd. Mizuho boosted their target price on Microchip Technology from $72.00 to $79.00 and gave the company a “neutral” rating in a research report on Friday, February 3rd. Truist Financial boosted their target price on Microchip Technology from $85.00 to $94.00 and gave the company a “buy” rating in a report on Friday, February 3rd. StockNews.com initiated coverage on Microchip Technology in a report on Thursday. They assign a “buy” rating to the stock. Finally, Raymond James upped their target price on Microchip Technology from $90.00 to $105.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 3rd. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.58, based on data from MarketBeat.com.
Microchip Technology Price Performance
Shares of MCHP stock opened at $80.71 on Friday. Microchip Technology Incorporated has a 1-year low of $54.33 and a 1-year high of $87.76. The stock’s 50-day moving average is $80.21 and its 200-day moving average is $72.23. The company has a market cap of $44.21 billion, a P/E ratio of 21.87, a PEG ratio of 0.83 and a beta of 1.58. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.76, and a quick ratio of 1.04.
Microchip technology increases the dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 7th. Investors of record on Tuesday, February 21st were given a dividend of $0.358 per share. The ex-dividend date of this dividend was Friday, February 17th. This represents an annualized dividend of $1.43 and a yield of 1.77%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.33. Microchip Technology’s dividend payout ratio (DPR) is currently 38.75%.
About Microchip Technology
Microchip Technology, Inc is engaged in providing semiconductor products. It operates through the Semiconductor Product Licensing and Technology segments. The Semiconductor Products segment is involved in the design, development, manufacturing and marketing of microcontrollers, development tools and analog, interface, mixed signal, interconnect and timing products.
Want to see what other hedge funds hold MCHP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microchip Technology Incorporated (NASDAQ: MCHP – Get Rating ).
This instant news alert is generated by narrative science technology and financial data from MarketBeat to provide readers with the fastest and most accurate reporting. This story was reviewed by the MarketBeat 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 tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients daily. MarketBeat identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market takes a nosedive … and Microchip Technology wasn’t on the list.
While Microchip Technology currently has a “Moderate Buy” rating among analysts, the top-rated analysts think these five stocks are better buys.
Check out the five stocks here
20 shares for sale now
MarketBeat just published its list of 20 stocks that Wall Street analysts hatred. These companies may appear to have good fundamentals, but the best analysts smell something seriously rotten. Are there any of these companies lurking around your portfolio? Find out by entering your email address below.
Get this free report