TCV Trust & Wealth Management Inc. Raises Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

TCV Trust & Wealth Management Inc. increased its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 225,717 shares of the semiconductor company’s stock after buying an additional 3,557 shares during the period. TCV Trust & Wealth Management Inc.’s holdings in Microchip Technology were worth $12,945,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Van ECK Associates Corp grew its stake in shares of Microchip Technology by 25.1% during the 3rd quarter. Van ECK Associates Corp now owns 7,961,200 shares of the semiconductor company’s stock worth $599,239,000 after acquiring an additional 1,597,263 shares during the period. Franklin Resources Inc. lifted its holdings in Microchip Technology by 30.2% during the third quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company’s stock valued at $264,430,000 after purchasing an additional 776,408 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Microchip Technology by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,026,946 shares of the semiconductor company’s stock worth $243,034,000 after purchasing an additional 25,872 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Microchip Technology by 9,901.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock worth $163,886,000 after purchasing an additional 2,829,082 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Microchip Technology by 20.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,751,987 shares of the semiconductor company’s stock valued at $220,957,000 after purchasing an additional 460,697 shares during the period. Institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MCHP shares. Mizuho lowered their price objective on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Evercore ISI restated an “outperform” rating and set a $95.00 price target (down from $101.00) on shares of Microchip Technology in a research report on Wednesday, November 6th. Jefferies Financial Group decreased their price objective on Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. B. Riley restated a “buy” rating and set a $75.00 target price (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $90.00 price target on shares of Microchip Technology in a research report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.11.

Microchip Technology Stock Performance

Shares of MCHP opened at $52.58 on Wednesday. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The stock has a market cap of $28.24 billion, a P/E ratio of 93.89 and a beta of 1.50. The business’s 50 day moving average price is $57.35 and its 200-day moving average price is $69.49. Microchip Technology Incorporated has a 52 week low of $50.21 and a 52 week high of $100.57.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.41% and a net margin of 6.49%. Equities research analysts anticipate that Microchip Technology Incorporated will post 1.3 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Monday, February 24th will be paid a dividend of $0.455 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a yield of 3.46%. Microchip Technology’s dividend payout ratio is currently 325.00%.

About Microchip Technology

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.