Czech National Bank Buys 7,144 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Czech National Bank boosted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 6.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 116,435 shares of the semiconductor company’s stock after purchasing an additional 7,144 shares during the quarter. Czech National Bank’s holdings in Microchip Technology were worth $6,678,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its holdings 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 buying an additional 1,597,263 shares during the period. Legal & General Group Plc lifted its position in Microchip Technology by 2.4% during the 2nd quarter. Legal & General Group Plc now owns 4,455,317 shares of the semiconductor company’s stock worth $407,660,000 after acquiring an additional 103,807 shares during the last quarter. Franklin Resources Inc. boosted 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 acquiring an additional 776,408 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Microchip Technology by 21.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,298,771 shares of the semiconductor company’s stock valued at $301,797,000 after purchasing an additional 575,087 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Microchip Technology by 0.9% in 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. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MCHP shares. KeyCorp decreased their target price on Microchip Technology from $90.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday. Bank of America downgraded shares of Microchip Technology from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $80.00 to $65.00 in a research note on Monday, December 16th. The Goldman Sachs Group reduced their price target on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Needham & Company LLC restated a “buy” rating and set a $85.00 price objective on shares of Microchip Technology in a report on Tuesday, December 3rd. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $95.00 price objective (down previously from $101.00) on shares of Microchip Technology in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.05.

Microchip Technology Stock Performance

NASDAQ MCHP opened at $56.88 on Wednesday. The company has a 50 day moving average of $62.10 and a 200-day moving average of $74.32. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71. Microchip Technology Incorporated has a 1-year low of $54.47 and a 1-year high of $100.57. The firm has a market cap of $30.55 billion, a price-to-earnings ratio of 39.78 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. Microchip Technology’s revenue was down 48.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.54 EPS. On average, equities analysts forecast that Microchip Technology Incorporated will post 1.33 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were issued a dividend of $0.455 per share. The ex-dividend date was Friday, November 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 3.20%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio (DPR) is 127.27%.

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.