ST Germain D J Co. Inc. Invests $97,000 in Microchip Technology Incorporated (NASDAQ:MCHP)

ST Germain D J Co. Inc. purchased a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,700 shares of the semiconductor company’s stock, valued at approximately $97,000.

Other hedge funds have also bought and sold shares of the company. Quadrature Capital Ltd acquired a new position in shares of Microchip Technology in the 3rd quarter valued at $3,312,000. Benjamin Edwards Inc. raised its position in shares of Microchip Technology by 5,185.4% in the third quarter. Benjamin Edwards Inc. now owns 9,408 shares of the semiconductor company’s stock worth $755,000 after acquiring an additional 9,230 shares during the period. Empowered Funds LLC boosted its stake in shares of Microchip Technology by 25.7% during the 3rd quarter. Empowered Funds LLC now owns 96,163 shares of the semiconductor company’s stock worth $7,721,000 after acquiring an additional 19,663 shares in the last quarter. Harvest Fund Management Co. Ltd grew its position in shares of Microchip Technology by 52.1% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 24,713 shares of the semiconductor company’s stock valued at $1,984,000 after acquiring an additional 8,467 shares during the period. Finally, Harvey Partners LLC purchased a new position in shares of Microchip Technology in the 3rd quarter valued at about $20,554,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Price Performance

Microchip Technology stock opened at $55.19 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71. The stock has a market cap of $29.64 billion, a P/E ratio of 38.59 and a beta of 1.52. The company has a 50-day moving average price of $62.84 and a 200 day moving average price of $74.91. Microchip Technology Incorporated has a 12-month low of $54.47 and a 12-month high of $100.57.

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

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.30%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, November 22nd. Microchip Technology’s dividend payout ratio (DPR) is presently 127.27%.

Wall Street Analysts Forecast Growth

MCHP has been the topic of several research analyst reports. The Goldman Sachs Group dropped their price objective on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a report on Friday. Rosenblatt Securities reissued a “buy” rating and issued a $90.00 price target on shares of Microchip Technology in a research note on Wednesday, November 6th. Citigroup decreased their price objective on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Susquehanna dropped their target price on shares of Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a research report on Wednesday, November 6th. Finally, Mizuho reduced their price target on shares of Microchip Technology from $85.00 to $72.00 and set an “outperform” rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.11.

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.