Syon Capital LLC Has $519,000 Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Syon Capital LLC increased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 45.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,757 shares of the semiconductor company’s stock after acquiring an additional 1,803 shares during the period. Syon Capital LLC’s holdings in Microchip Technology were worth $519,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MCHP. Mizuho Markets Americas LLC purchased a new stake in shares of Microchip Technology in the third quarter valued at about $225,800,000. Qube Research & Technologies Ltd increased its stake in Microchip Technology by 122.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,529,186 shares of the semiconductor company’s stock valued at $119,353,000 after buying an additional 840,526 shares during the last quarter. Public Sector Pension Investment Board lifted its position in shares of Microchip Technology by 173.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 1,062,611 shares of the semiconductor company’s stock worth $82,937,000 after buying an additional 673,924 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Microchip Technology by 1,082.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 715,875 shares of the semiconductor company’s stock worth $64,558,000 after buying an additional 655,332 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Microchip Technology by 27.8% in the third quarter. Deutsche Bank AG now owns 1,927,892 shares of the semiconductor company’s stock valued at $150,472,000 after acquiring an additional 418,869 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MCHP shares. UBS Group dropped their price target on Microchip Technology from $105.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, February 2nd. The Goldman Sachs Group reduced their price target on shares of Microchip Technology from $87.00 to $77.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. TD Cowen raised their price objective on shares of Microchip Technology from $75.00 to $80.00 and gave the stock a “market perform” rating in a report on Friday, February 2nd. StockNews.com cut shares of Microchip Technology from a “buy” rating to a “hold” rating in a research note on Friday, December 29th. Finally, Truist Financial reduced their target price on shares of Microchip Technology from $97.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, January 9th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $92.50.

Microchip Technology Stock Up 1.5 %

Shares of NASDAQ:MCHP opened at $93.60 on Friday. Microchip Technology Incorporated has a 12-month low of $68.75 and a 12-month high of $94.63. The company has a current ratio of 0.98, a quick ratio of 0.58 and a debt-to-equity ratio of 0.57. The stock’s 50-day moving average price is $87.24 and its 200-day moving average price is $84.65. The stock has a market capitalization of $50.58 billion, a P/E ratio of 21.87, a price-to-earnings-growth ratio of 2.81 and a beta of 1.65.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the business posted $1.48 EPS. The firm’s revenue for the quarter was down 18.6% compared to the same quarter last year. On average, equities analysts anticipate that Microchip Technology Incorporated will post 4.64 earnings per share for the current year.

Microchip Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Thursday, February 22nd. This is an increase from Microchip Technology’s previous quarterly dividend of $0.44. Microchip Technology’s dividend payout ratio is currently 42.06%.

Insider Activity

In related news, Director Karlton D. Johnson sold 370 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total transaction of $31,080.00. Following the sale, the director now directly owns 1,789 shares of the company’s stock, valued at $150,276. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Karlton D. Johnson sold 370 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total transaction of $31,080.00. Following the completion of the sale, the director now owns 1,789 shares in the company, valued at $150,276. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO James Eric Bjornholt sold 1,970 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $83.90, for a total value of $165,283.00. Following the completion of the transaction, the chief financial officer now directly owns 32,893 shares in the company, valued at approximately $2,759,722.70. The disclosure for this sale can be found here. Corporate insiders own 2.07% of the company’s stock.

Microchip Technology Profile

Microchip Technology Incorporated develops, manufactures, and sells 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 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.