Yousif Capital Management LLC increases its equity position in Microchip Technology Incorporated (NASDAQ: MCHP)
Yousif Capital Management LLC increased its holdings of Microchip Technology Incorporated (NASDAQ: MCHP – Get Rating) stock by 3.2% in Q4, according to its latest 13F filing with the Securities & Exchange Commission. The fund held 81,317 shares of the semiconductor company after buying 2,491 additional shares during the quarter. Yousif Capital Management LLC’s holdings in Microchip Technology were worth $5,713,000 when it last filed with the Securities & Exchange Commission.
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Several other hedge funds and other institutional investors have also recently added or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Microchip Technology by 0.6% in the third quarter. Vanguard Group Inc. now owns 65,524,560 shares of the semiconductor company worth $3,998,964,000 after acquiring 417,578 additional shares last quarter. Dodge & Cox increased its stake in Microchip Technology by 1.7% in the second quarter. Dodge & Cox now owns 32,228,436 shares of the semiconductor company worth $1,871,828,000 after acquiring an additional 551,092 shares last quarter. Macquarie Group Ltd. increased its stake in Microchip Technology by 1.6% in the third quarter. Macquarie Group Ltd. now owns 8,517,994 shares of the semiconductor company worth $519,852,000 after acquiring an additional 131,879 shares last quarter. Boston Partners increased its stake in Microchip Technology by 17.2% in the third quarter. Boston Partners now owns 7,665,626 shares of the semiconductor company worth $467,751,000 after acquiring an additional 1,123,669 shares last quarter. Finally, Northern Trust Corp increased its stake in Microchip Technology by 1.7% in the first quarter. Northern Trust Corp now owns 7,553,578 shares of the semiconductor company worth $567,576,000 after acquiring an additional 123,806 shares last quarter. 89.85% of the shares are held by hedge funds and other institutional investors.
Analyst upgrades and downgrades
Several research companies have weighed in on MCHP. Credit Suisse Group raised its price target on Microchip Technology from $85.00 to $98.00 and gave the stock a “neutral” rating in a Friday, Feb. 3 research note. Mizuho raised its target price on Microchip Technology from $72.00 to $79.00 and gave the company a “neutral” rating in a Friday, Feb. 3 research report. Truist Financial raised its price target on Microchip Technology from $85.00 to $94.00 and gave the company a “buy” rating in a Friday, February 3 report. StockNews.com rolled out coverage on Microchip Technology in a report on Thursday. They set a “buy” rating on the stock. Finally, Raymond James raised his price target on Microchip Technology from $90.00 to $105.00 and gave the stock a “Strong Buy” rating in a Friday, Feb. 3 research note. Five investment analysts gave the stock a hold rating, twelve issued a buy rating and one gave the company’s stock a high buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.58.
Microchip Technology Price Performance
Shares of MCHP opened at $80.71 on Friday. Microchip Technology Incorporated has a 1-year low of $54.33 and a 1-year high of $87.76. The stock’s 50-day moving average is $80.21 and its 200-day moving average is $72.23. The company has a market capitalization of $44.21 billion, a P/E ratio of 21.87, a PEG ratio of 0.83 and a beta of 1.58. The company has a debt ratio of 1.04, a current ratio of 1.76 and a quick ratio of 1.04.
Microchip technology increases dividends
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 7. Investors of record on Tuesday, February 21 received a dividend of $0.358 per share. The ex-dividend date was Friday, February 17. This represents a dividend of $1.43 on an annualized basis and a yield of 1.77%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.33. Microchip Technology’s dividend payout ratio (DPR) is currently 38.75%.
About Microchip Technology (Get an Evaluation)
Microchip Technology, Inc is engaged in providing semiconductor products. It operates through the Semiconductor Products and Technology Licensing segments. The Semiconductor Products segment is involved in the design, development, manufacture and marketing of microcontrollers, development tools and analog, interface, mixed-signal, connectivity and synchronization products.
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