Janus Henderson Group PLC Trims Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Janus Henderson Group PLC lessened its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 32.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,384,306 shares of the semiconductor company’s stock after selling 1,122,219 shares during the quarter. Janus Henderson Group PLC’s holdings in Microchip Technology were worth $191,436,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in MCHP. Cetera Advisors LLC raised its holdings in shares of Microchip Technology by 294.0% in the 1st quarter. Cetera Advisors LLC now owns 22,416 shares of the semiconductor company’s stock valued at $2,011,000 after buying an additional 16,726 shares during the period. Kingswood Wealth Advisors LLC purchased a new position in shares of Microchip Technology in the second quarter valued at approximately $243,000. CWM LLC increased its stake in Microchip Technology by 37.2% during the 2nd quarter. CWM LLC now owns 32,552 shares of the semiconductor company’s stock worth $2,979,000 after buying an additional 8,828 shares during the period. Valeo Financial Advisors LLC lifted its holdings in Microchip Technology by 3.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 10,904 shares of the semiconductor company’s stock worth $998,000 after buying an additional 323 shares in the last quarter. Finally, Simplicity Wealth LLC boosted its position in Microchip Technology by 5.1% in the 2nd quarter. Simplicity Wealth LLC now owns 18,071 shares of the semiconductor company’s stock valued at $1,653,000 after buying an additional 876 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Stock Performance

Microchip Technology stock opened at $65.39 on Wednesday. The company has a market cap of $35.12 billion, a price-to-earnings ratio of 45.73 and a beta of 1.50. Microchip Technology Incorporated has a 12 month low of $62.63 and a 12 month high of $100.57. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. The stock’s 50-day moving average is $73.33 and its 200-day moving average is $81.88.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the company posted $1.54 earnings per share. Microchip Technology’s revenue was down 48.4% compared to the same quarter last year. Equities analysts anticipate that Microchip Technology Incorporated will post 1.38 earnings per share for the current year.

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be given a $0.455 dividend. The ex-dividend date is Friday, November 22nd. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a yield of 2.78%. Microchip Technology’s dividend payout ratio (DPR) is 127.27%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MCHP. Stifel Nicolaus decreased their price target on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday. Rosenblatt Securities reaffirmed a “buy” rating and set a $90.00 price objective on shares of Microchip Technology in a research report on Wednesday, November 6th. Needham & Company LLC reiterated a “buy” rating and issued a $85.00 price objective on shares of Microchip Technology in a report on Tuesday. Piper Sandler cut their target price on Microchip Technology from $100.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. Finally, Mizuho set a $95.00 price objective on shares of Microchip Technology in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $90.95.

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.