Boothbay Fund Management LLC grew its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 63.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,705 shares of the semiconductor company’s stock after acquiring an additional 9,180 shares during the period. Boothbay Fund Management LLC’s holdings in Microchip Technology were worth $2,128,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Microchip Technology by 4.6% during the second quarter. Vanguard Group Inc. now owns 23,622,558 shares of the semiconductor company’s stock worth $1,823,190,000 after acquiring an additional 1,042,622 shares during the last quarter. State Street Corp raised its position in shares of Microchip Technology by 0.7% in the second quarter. State Street Corp now owns 8,948,443 shares of the semiconductor company’s stock valued at $690,652,000 after buying an additional 58,577 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Microchip Technology by 2,959.9% in the second quarter. Janus Henderson Group PLC now owns 8,073,264 shares of the semiconductor company’s stock valued at $623,093,000 after buying an additional 7,809,422 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Microchip Technology by 66.5% in the second quarter. Principal Financial Group Inc. now owns 6,276,677 shares of the semiconductor company’s stock valued at $484,434,000 after buying an additional 2,507,707 shares in the last quarter. Finally, Fred Alger Management Inc. raised its position in shares of Microchip Technology by 80.9% in the second quarter. Fred Alger Management Inc. now owns 3,349,037 shares of the semiconductor company’s stock valued at $258,479,000 after buying an additional 1,497,699 shares in the last quarter.

A number of equities research analysts have recently weighed in on MCHP shares. Needham & Company LLC reiterated a “buy” rating and issued a $120.00 price target on shares of Microchip Technology in a research report on Friday, September 8th. Morgan Stanley reiterated an “overweight” rating and issued a $94.00 price target on shares of Microchip Technology in a research report on Wednesday, September 20th. Stifel Nicolaus reiterated a “buy” rating and issued a $94.00 price target on shares of Microchip Technology in a research report on Thursday, September 28th. ValuEngine downgraded shares of Microchip Technology from a “buy” rating to a “hold” rating in a research report on Saturday, September 30th. Finally, Zacks Investment Research downgraded shares of Microchip Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $99.41.

In related news, CFO James Eric Bjornholt sold 1,801 shares of Microchip Technology stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $91.66, for a total value of $165,079.66. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Stephen V. Drehobl sold 2,852 shares of Microchip Technology stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $91.66, for a total transaction of $261,414.32. Following the completion of the transaction, the vice president now directly owns 15,767 shares in the company, valued at $1,445,203.22. The disclosure for this sale can be found here. Company insiders own 2.13% of the company’s stock.

Microchip Technology Incorporated (NASDAQ:MCHP) opened at $87.39 on Friday. The stock has a market cap of $20,164.98, a P/E ratio of 18.26, a P/E/G ratio of 1.38 and a beta of 1.00. The company has a debt-to-equity ratio of 0.85, a current ratio of 3.33 and a quick ratio of 2.71. Microchip Technology Incorporated has a one year low of $62.21 and a one year high of $95.92.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Monday, November 6th. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.14. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. Microchip Technology had a net margin of 16.23% and a return on equity of 35.48%. The firm’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period last year, the firm posted $0.94 earnings per share. equities analysts anticipate that Microchip Technology Incorporated will post 5.12 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 5th. Investors of record on Tuesday, November 21st were paid a $0.3625 dividend. This represents a $1.45 dividend on an annualized basis and a yield of 1.66%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date was Monday, November 20th. Microchip Technology’s dividend payout ratio (DPR) is 58.00%.

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About Microchip Technology

Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The Company operates through two segments: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, manufactures and markets microcontrollers, development tools and analog, interface, mixed signal and timing products.

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

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