Jefferies Financial Group Inc. Has $2.86 Million Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Jefferies Financial Group Inc. lessened its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 99.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,784 shares of the semiconductor company’s stock after selling 7,809,216 shares during the period. Jefferies Financial Group Inc.’s holdings in Microchip Technology were worth $2,855,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mainstream Capital Management LLC acquired a new stake in Microchip Technology during the fourth quarter worth approximately $26,000. Rakuten Securities Inc. grew its holdings 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 worth $27,000 after purchasing an additional 359 shares in the last quarter. OFI Invest Asset Management acquired a new stake in shares of Microchip Technology during the 4th quarter worth $29,000. Financial Life Planners acquired a new stake in shares of Microchip Technology during the 4th quarter worth $32,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Microchip Technology during the 4th quarter worth $34,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Stock Up 2.2%

Shares of MCHP opened at $62.30 on Wednesday. The company has a market capitalization of $33.51 billion, a PE ratio of 111.25 and a beta of 1.42. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $100.57. The stock’s 50-day moving average price is $47.16 and its two-hundred day moving average price is $56.24. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The company had revenue of $970.50 million for the quarter, compared to analyst estimates of $962.86 million. Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. The firm’s quarterly revenue was down 26.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 earnings per share. On average, analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd will be paid a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 2.92%. The ex-dividend date is Thursday, May 22nd. Microchip Technology’s dividend payout ratio (DPR) is presently -18,200.00%.

Insider Activity at Microchip Technology

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. KeyCorp reduced their target price on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. Evercore ISI raised their price objective on Microchip Technology from $65.00 to $71.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. TD Cowen raised their price target on shares of Microchip Technology from $35.00 to $55.00 and gave the company a “hold” rating in a research note on Friday, May 9th. Raymond James raised their price target on shares of Microchip Technology from $60.00 to $65.00 and gave the company a “strong-buy” rating in a research note on Friday, May 9th. Finally, B. Riley raised their target price on shares of Microchip Technology from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.42.

Microchip Technology 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.