MetLife Investment Advisors LLC bought a new stake in Microchip Technology Inc. (NASDAQ:MCHP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 72,372 shares of the semiconductor company’s stock, valued at approximately $6,360,000.
Several other large investors also recently added to or reduced their stakes in MCHP. Atlantic Trust Group LLC increased its holdings in shares of Microchip Technology by 255.3% in the third quarter. Atlantic Trust Group LLC now owns 1,381,312 shares of the semiconductor company’s stock valued at $124,014,000 after purchasing an additional 992,572 shares during the period. TimesSquare Capital Management LLC acquired a new position in shares of Microchip Technology in the third quarter valued at approximately $72,300,000. Janus Henderson Group PLC grew its holdings in Microchip Technology by 7.8% during the third quarter. Janus Henderson Group PLC now owns 8,703,575 shares of the semiconductor company’s stock worth $781,389,000 after acquiring an additional 630,311 shares during the period. Carillon Tower Advisers Inc. acquired a new position in Microchip Technology during the fourth quarter worth $41,809,000. Finally, Mackenzie Financial Corp acquired a new position in Microchip Technology during the fourth quarter worth $39,601,000.
Shares of MCHP stock opened at $94.01 on Friday. 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 firm has a market capitalization of $22,625.83, a price-to-earnings ratio of 96.92, a price-to-earnings-growth ratio of 1.29 and a beta of 1.08. Microchip Technology Inc. has a twelve month low of $71.40 and a twelve month high of $101.48.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 6th. Shareholders of record on Wednesday, February 21st were issued a $0.363 dividend. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $1.45 annualized dividend and a yield of 1.54%. Microchip Technology’s dividend payout ratio is 149.49%.
In other Microchip Technology news, 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 value of $1,907,755.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Esther Johnson sold 2,275 shares of the company’s stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $97.90, for a total value of $222,722.50. Following the completion of the sale, the director now directly owns 6,081 shares in the company, valued at approximately $595,329.90. The disclosure for this sale can be found here. Insiders sold 33,667 shares of company stock worth $3,132,552 in the last three months. 2.13% of the stock is owned by corporate insiders.
A number of brokerages recently weighed in on MCHP. Goldman Sachs raised Microchip Technology from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $95.57 to $108.00 in a report on Thursday, March 8th. Stifel Nicolaus reaffirmed an “average” rating and set a $112.00 price objective on shares of Microchip Technology in a report on Tuesday, March 6th. Rosenblatt Securities reaffirmed a “buy” rating on shares of Microchip Technology in a report on Tuesday, March 6th. Mizuho raised Microchip Technology from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $92.00 to $110.00 in a report on Monday, March 5th. Finally, SunTrust Banks raised Microchip Technology from a “hold” rating to a “buy” rating in a report on Friday, March 2nd. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Microchip Technology presently has an average rating of “Buy” and a consensus target price of $103.04.
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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