Royal London Asset Management Ltd. Purchases 3,358 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Royal London Asset Management Ltd. boosted its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 214,460 shares of the semiconductor company’s stock after acquiring an additional 3,358 shares during the period. Royal London Asset Management Ltd.’s holdings in Microchip Technology were worth $12,299,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Mainstream Capital Management LLC bought a new stake in Microchip Technology in the 4th quarter worth $26,000. Rakuten Securities Inc. boosted its stake in shares of Microchip Technology by 309.5% during the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 359 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Microchip Technology during the 3rd quarter valued at about $29,000. OFI Invest Asset Management bought a new stake in shares of Microchip Technology during the 4th quarter valued at about $29,000. Finally, Financial Life Planners bought a new stake in shares of Microchip Technology during the 4th quarter valued at about $32,000. Institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

MCHP has been the topic of a number of research reports. Morgan Stanley cut their target price on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. The Goldman Sachs Group cut their target price on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. B. Riley reaffirmed a “buy” rating and set a $75.00 target price (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Bank of America lowered shares of Microchip Technology from a “neutral” rating to an “underperform” rating and cut their target price for the company from $80.00 to $65.00 in a research note on Monday, December 16th. Finally, Raymond James reissued a “strong-buy” rating and set a $60.00 price target (down from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $74.37.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the transaction, the chief financial officer now owns 33,272 shares in the company, valued at $2,025,599.36. This represents a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is owned by insiders.

Microchip Technology Stock Up 1.4 %

Shares of Microchip Technology stock opened at $51.72 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. The stock has a market capitalization of $27.82 billion, a PE ratio of 92.36 and a beta of 1.52. Microchip Technology Incorporated has a 52-week low of $49.92 and a 52-week high of $100.57. The company has a 50-day simple moving average of $56.17 and a two-hundred day simple moving average of $64.74.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. On average, analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were given a dividend of $0.455 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a yield of 3.52%. Microchip Technology’s dividend payout ratio (DPR) is 325.00%.

Microchip Technology Company Profile

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.