Xponance Inc. Has $4.68 Million Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Xponance Inc. lifted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 12.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 81,519 shares of the semiconductor company’s stock after acquiring an additional 8,707 shares during the period. Xponance Inc.’s holdings in Microchip Technology were worth $4,675,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. United Bank boosted its stake in Microchip Technology by 21.0% during the 3rd 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 period. OneDigital Investment Advisors LLC lifted its holdings in shares of Microchip Technology by 6.7% during the third quarter. OneDigital Investment Advisors LLC now owns 4,458 shares of the semiconductor company’s stock worth $358,000 after buying an additional 280 shares during the last quarter. Quest Partners LLC boosted its position in shares of Microchip Technology by 463,300.0% in the third quarter. Quest Partners LLC now owns 4,634 shares of the semiconductor company’s stock valued at $372,000 after acquiring an additional 4,633 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Microchip Technology in the third quarter worth $2,203,000. Finally, West Family Investments Inc. bought a new position in Microchip Technology during the third quarter worth $203,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

MCHP has been the topic of several research analyst reports. StockNews.com lowered shares of Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Mizuho boosted their price target on Microchip Technology from $58.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Rosenblatt Securities reissued a “buy” rating and set a $70.00 price objective on shares of Microchip Technology in a report on Tuesday, March 4th. Bank of America lowered Microchip Technology from a “neutral” rating to an “underperform” rating and cut their target price for the company from $80.00 to $65.00 in a research note on Monday, December 16th. Finally, Evercore ISI lifted their price target on shares of Microchip Technology from $65.00 to $71.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Microchip Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.37.

Microchip Technology Trading Down 6.5 %

Shares of MCHP opened at $51.00 on Friday. The stock has a fifty day moving average price of $56.24 and a two-hundred day moving average price of $65.03. 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 company has a market cap of $27.43 billion, a price-to-earnings ratio of 91.07 and a beta of 1.52. Microchip Technology Incorporated has a 52-week low of $50.21 and a 52-week high of $100.57.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share 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%. Analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were issued a $0.455 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.57%. Microchip Technology’s dividend payout ratio is currently 325.00%.

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 dated Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the transaction, the chief financial officer now directly 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.10% of the company’s stock.

Microchip Technology Company 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.