Robeco Institutional Asset Management B.V. Acquires 2,668 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Robeco Institutional Asset Management B.V. grew its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP – Get Rating) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 245,909 shares of the semiconductor company’s stock after buying an additional 2,668 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Microchip Technology were worth $15,008,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCHP. Jump Financial LLC boosted its holdings in shares of Microchip Technology by 2.7% during the 3rd quarter. Jump Financial LLC now owns 8,885 shares of the semiconductor company’s stock valued at $542,000 after buying an additional 237 shares in the last quarter. FDx Advisors Inc. lifted its holdings in shares of Microchip Technology by 21.4% during the third quarter. FDx Advisors Inc. now owns 5,738 shares of the semiconductor company’s stock valued at $350,000 after purchasing an additional 1,013 shares during the last quarter. Foster & Motley Inc. bought a new stake in shares of Microchip Technology in the 3rd quarter worth approximately $471,000. Intech Investment Management LLC grew its stake in shares of Microchip Technology by 22.6% in the 3rd quarter. Intech Investment Management LLC now owns 20,616 shares of the semiconductor company’s stock worth $1,258,000 after buying an additional 3,805 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Microchip Technology by 7.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 87,459 shares of the semiconductor company’s stock valued at $5,080,000 after buying an additional 6,224 shares in the last quarter. Institutional investors own 89.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MCHP shares. B. Riley boosted their target price on Microchip Technology from $86.00 to $106.00 and gave the stock a “buy” rating in a report on Friday, February 3rd. Susquehanna increased their price objective on shares of Microchip Technology from $85.00 to $100.00 and gave the company a “positive” rating in a research report on Friday, February 3rd. Citigroup raised their price objective on shares of Microchip Technology from $74.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, February 3rd. Mizuho upped their target price on shares of Microchip Technology from $72.00 to $79.00 and gave the stock a “neutral” rating in a research note on Friday, February 3rd. Finally, The Goldman Sachs Group raised their price target on shares of Microchip Technology from $76.00 to $87.00 and gave the company a “neutral” rating in a research report on Monday, February 6th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.58.

Microchip Technology Stock Performance

MCHP stock opened at $80.71 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.76 and a quick ratio of 1.04. Microchip Technology Incorporated has a 1 year low of $54.33 and a 1 year high of $87.76. The company has a market cap of $44.21 billion, a P/E ratio of 21.87, a price-to-earnings-growth ratio of 0.86 and a beta of 1.58. The stock’s fifty day moving average price is $80.21 and its 200-day moving average price is $72.18.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 7th. Stockholders of record on Tuesday, February 21st were paid a $0.358 dividend. This represents a $1.43 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend was Friday, February 17th. This is a boost from Microchip Technology’s previous quarterly dividend of $0.33. Microchip Technology’s dividend payout ratio is 38.75%.

Microchip Technology Profile

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Microchip Technology, Inc engages in the provision of semiconductor products. It operates through the Semiconductor Products and Technology Licensing segments. The Semiconductor Products segment is involved in designing, developing, manufacturing, and marketing microcontrollers, development tools and analog, interface, mixed signal, connectivity devices, and timing products.