American International Group Inc. increased its position in Microchip Technology Inc. (NASDAQ:MCHP) by 8.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 105,951 shares of the semiconductor company’s stock after buying an additional 8,139 shares during the period. American International Group Inc.’s holdings in Microchip Technology were worth $9,311,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Zions Bancorporation raised its position in shares of Microchip Technology by 215.5% in the 3rd quarter. Zions Bancorporation now owns 1,224 shares of the semiconductor company’s stock worth $110,000 after buying an additional 836 shares during the period. Amica Retiree Medical Trust purchased a new position in shares of Microchip Technology in the 3rd quarter worth $121,000. Valeo Financial Advisors LLC purchased a new position in shares of Microchip Technology in the 3rd quarter worth $146,000. Squar Milner Financial Services LLC purchased a new position in shares of Microchip Technology in the 4th quarter worth $205,000. Finally, Twin Tree Management LP raised its position in shares of Microchip Technology by 126.2% in the 4th quarter. Twin Tree Management LP now owns 2,210 shares of the semiconductor company’s stock worth $194,000 after buying an additional 10,646 shares during the period.
Several research analysts recently weighed in on the company. Needham & Company LLC increased their target price on Microchip Technology from $120.00 to $130.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, November 7th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $120.00 target price on shares of Microchip Technology in a research report on Tuesday, November 7th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $110.00 target price (up from $95.00) on shares of Microchip Technology in a research report on Tuesday, November 7th. ValuEngine lowered Microchip Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Finally, Morgan Stanley cut their target price on Microchip Technology from $99.00 to $96.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 7th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $102.35.
Shares of Microchip Technology Inc. (MCHP) opened at $86.38 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.33 and a current ratio of 2.98. The firm has a market capitalization of $20,240.00, a PE ratio of 23.80, a PEG ratio of 1.14 and a beta of 1.05. Microchip Technology Inc. has a 52 week low of $71.40 and a 52 week high of $99.17.
Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Tuesday, February 6th. The semiconductor company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.01. The company had revenue of $994.10 million during the quarter, compared to the consensus estimate of $992.10 million. Microchip Technology had a return on equity of 36.54% and a net margin of 6.33%. The company’s revenue was up 19.1% on a year-over-year basis. During the same period last year, the firm earned $1.05 earnings per share. sell-side analysts predict that Microchip Technology Inc. will post 5.13 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Wednesday, February 21st will be paid a $0.363 dividend. This represents a $1.45 dividend on an annualized basis and a yield of 1.68%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date is Tuesday, February 20th. Microchip Technology’s dividend payout ratio (DPR) is 39.94%.
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About Microchip Technology
Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The Company operates through two segments: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, manufactures and markets microcontrollers, development tools and analog, interface, mixed signal and timing products.
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