Caxton Associates LP increased its position in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 115.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,973 shares of the semiconductor company’s stock after acquiring an additional 5,873 shares during the quarter. Caxton Associates LP’s holdings in Microchip Technology were worth $964,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Westchester Capital Management Inc. grew its position in Microchip Technology by 0.7% during the fourth quarter. Westchester Capital Management Inc. now owns 104,009 shares of the semiconductor company’s stock valued at $9,140,000 after purchasing an additional 765 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Microchip Technology by 9.3% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 130,249 shares of the semiconductor company’s stock valued at $11,694,000 after purchasing an additional 11,068 shares in the last quarter. Neuberger Berman Group LLC grew its position in Microchip Technology by 0.8% during the third quarter. Neuberger Berman Group LLC now owns 370,733 shares of the semiconductor company’s stock valued at $33,284,000 after purchasing an additional 2,861 shares in the last quarter. FDx Advisors Inc. grew its position in Microchip Technology by 4.6% during the third quarter. FDx Advisors Inc. now owns 28,510 shares of the semiconductor company’s stock valued at $2,560,000 after purchasing an additional 1,256 shares in the last quarter. Finally, Pinebridge Investments L.P. purchased a new position in Microchip Technology during the third quarter valued at approximately $783,000.
Shares of Microchip Technology Inc. (NASDAQ MCHP) opened at $98.97 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.98 and a quick ratio of 2.33. The company has a market cap of $23,190.00, a P/E ratio of 27.26, a price-to-earnings-growth ratio of 1.32 and a beta of 1.08. Microchip Technology Inc. has a 1 year low of $71.40 and a 1 year high of $99.17.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 6th. Investors of record on Wednesday, February 21st were issued a dividend of $0.363 per share. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.45 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend was Tuesday, February 20th. Microchip Technology’s dividend payout ratio is currently 39.94%.
A number of research analysts recently commented on MCHP shares. Stifel Nicolaus reaffirmed an “average” rating and set a $112.00 price objective on shares of Microchip Technology in a research report on Tuesday, March 6th. Bank of America lowered their price objective on shares of Microchip Technology from $120.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, February 7th. BidaskClub downgraded shares of Microchip Technology from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 26th. Zacks Investment Research raised shares of Microchip Technology from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a research report on Friday, January 5th. Finally, SunTrust Banks raised shares of Microchip Technology from a “hold” rating to a “buy” rating in a research report on Friday, March 2nd. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $103.04.
In related news, CFO James Eric Bjornholt sold 2,109 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $84.18, for a total transaction of $177,535.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Steve Sanghi sold 20,124 shares of the company’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $94.80, for a total transaction of $1,907,755.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,392 shares of company stock valued at $2,909,829. 2.13% of the stock is owned by insiders.
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Microchip Technology Company Profile
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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