Sensato Investors LLC cut its holdings in Microchip Technology Inc. (NASDAQ:MCHP) by 58.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 59,780 shares of the semiconductor company’s stock after selling 82,420 shares during the quarter. Sensato Investors LLC’s holdings in Microchip Technology were worth $5,253,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Cornerstone Capital Management Holdings LLC. boosted its position in shares of Microchip Technology by 12.7% during the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 45,070 shares of the semiconductor company’s stock worth $3,960,000 after purchasing an additional 5,096 shares in the last quarter. OLD Mission Capital LLC bought a new position in shares of Microchip Technology during the fourth quarter worth $809,000. Captrust Financial Advisors bought a new position in shares of Microchip Technology during the fourth quarter worth $6,240,000. Robecosam AG boosted its position in shares of Microchip Technology by 61.8% during the fourth quarter. Robecosam AG now owns 178,000 shares of the semiconductor company’s stock worth $15,773,000 after purchasing an additional 68,000 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its position in shares of Microchip Technology by 0.9% during the fourth quarter. Guggenheim Capital LLC now owns 959,000 shares of the semiconductor company’s stock worth $84,276,000 after purchasing an additional 8,292 shares in the last quarter.
Shares of Microchip Technology Inc. (MCHP) opened at $100.24 on Tuesday. The company has a market cap of $23,192.94, a price-to-earnings ratio of 103.34, a P/E/G ratio of 1.32 and a beta of 1.08. Microchip Technology Inc. has a 52-week low of $71.40 and a 52-week high of $100.50. 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 6th. Investors of record on Wednesday, February 21st were given a $0.363 dividend. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.45 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Tuesday, February 20th. Microchip Technology’s payout ratio is currently 149.49%.
In other Microchip Technology news, VP Mitchell R. Little sold 4,159 shares of Microchip Technology stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $84.14, for a total value of $349,938.26. Following the sale, the vice president now directly owns 15,767 shares in the company, valued at approximately $1,326,635.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James Eric Bjornholt sold 2,109 shares of Microchip Technology 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 disclosure for this sale can be found here. Insiders sold a total of 31,392 shares of company stock worth $2,909,829 over the last quarter. Company insiders own 2.13% of the company’s stock.
A number of brokerages have recently weighed in on MCHP. Goldman Sachs Group raised shares of Microchip Technology from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $95.57 to $108.00 in a research report on Thursday, March 8th. Stifel Nicolaus reissued an “average” rating and set a $112.00 price target on shares of Microchip Technology in a research report on Tuesday, March 6th. Rosenblatt Securities reissued a “buy” rating on shares of Microchip Technology in a research report on Tuesday, March 6th. Mizuho raised shares of Microchip Technology from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $92.00 to $110.00 in a research report on Monday, March 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 equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Microchip Technology currently has a consensus rating of “Buy” and a consensus target price of $103.04.
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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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