GW&K Investment Management LLC trimmed its stake in Microchip Technology Inc. (NASDAQ:MCHP) by 5.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 247,299 shares of the semiconductor company’s stock after selling 13,480 shares during the quarter. GW&K Investment Management LLC owned approximately 0.10% of Microchip Technology worth $17,786,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MCHP. Oregon Public Employees Retirement Fund boosted its position in shares of Microchip Technology by 7,043.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,841,512 shares of the semiconductor company’s stock worth $26,000 after buying an additional 1,815,732 shares during the period. Enlightenment Research LLC acquired a new stake in shares of Microchip Technology in the fourth quarter worth $43,000. CWM LLC boosted its position in shares of Microchip Technology by 294.9% in the fourth quarter. CWM LLC now owns 774 shares of the semiconductor company’s stock worth $56,000 after buying an additional 578 shares during the period. IMS Capital Management acquired a new stake in shares of Microchip Technology in the third quarter worth $62,000. Finally, Webster Bank N. A. boosted its position in shares of Microchip Technology by 19.3% in the fourth quarter. Webster Bank N. A. now owns 864 shares of the semiconductor company’s stock worth $62,000 after buying an additional 140 shares during the period.

NASDAQ MCHP opened at $89.65 on Thursday. Microchip Technology Inc. has a fifty-two week low of $60.70 and a fifty-two week high of $104.20. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.83 and a current ratio of 2.92. The stock has a market cap of $21.49 billion, a price-to-earnings ratio of 17.27, a P/E/G ratio of 1.15 and a beta of 1.21.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Tuesday, February 5th. The semiconductor company reported $1.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.21. Microchip Technology had a return on equity of 32.30% and a net margin of 6.53%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the company earned $1.36 earnings per share. The business’s revenue was up 42.5% compared to the same quarter last year. Analysts anticipate that Microchip Technology Inc. will post 5.89 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 7th. Shareholders of record on Thursday, February 21st will be issued a dividend of $0.365 per share. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.46 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Wednesday, February 20th. Microchip Technology’s dividend payout ratio (DPR) is 28.13%.

A number of research firms recently issued reports on MCHP. Needham & Company LLC lifted their price objective on Microchip Technology from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, February 6th. Citigroup reissued a “buy” rating and set a $105.00 price objective on shares of Microchip Technology in a research report on Thursday, February 7th. Rosenblatt Securities reissued a “buy” rating and set a $115.00 price objective on shares of Microchip Technology in a research report on Monday, February 11th. Zacks Investment Research cut Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 11th. Finally, ValuEngine raised Microchip Technology from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $103.95.

In other news, VP Mitchell R. Little sold 3,585 shares of Microchip Technology stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $91.17, for a total value of $326,844.45. Following the transaction, the vice president now directly owns 7,693 shares in the company, valued at $701,370.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James Eric Bjornholt sold 1,866 shares of Microchip Technology stock in a transaction dated Friday, November 23rd. The stock was sold at an average price of $72.06, for a total value of $134,463.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,382 shares of company stock worth $1,193,323. Corporate insiders own 2.13% of the company’s stock.

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Microchip Technology Company Profile

Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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