Janus Henderson Group PLC Sells 1,823,324 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Janus Henderson Group PLC reduced its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 76.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 560,982 shares of the semiconductor company’s stock after selling 1,823,324 shares during the quarter. Janus Henderson Group PLC’s holdings in Microchip Technology were worth $32,172,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Federated Hermes Inc. boosted its stake in shares of Microchip Technology by 0.5% in the 4th quarter. Federated Hermes Inc. now owns 39,298 shares of the semiconductor company’s stock valued at $2,254,000 after purchasing an additional 209 shares during the last quarter. Lebenthal Global Advisors LLC lifted its position in shares of Microchip Technology by 7.3% during the 4th quarter. Lebenthal Global Advisors LLC now owns 3,894 shares of the semiconductor company’s stock valued at $223,000 after acquiring an additional 266 shares during the period. CreativeOne Wealth LLC lifted its position in shares of Microchip Technology by 1.0% during the 4th quarter. CreativeOne Wealth LLC now owns 28,842 shares of the semiconductor company’s stock valued at $1,654,000 after acquiring an additional 283 shares during the period. Legacy Financial Advisors Inc. lifted its position in shares of Microchip Technology by 8.1% during the 4th quarter. Legacy Financial Advisors Inc. now owns 4,176 shares of the semiconductor company’s stock valued at $239,000 after acquiring an additional 312 shares during the period. Finally, Perennial Investment Advisors LLC lifted its position in shares of Microchip Technology by 6.5% during the 4th quarter. Perennial Investment Advisors LLC now owns 5,231 shares of the semiconductor company’s stock valued at $300,000 after acquiring an additional 317 shares during the period. 91.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MCHP. Evercore ISI boosted their target price on shares of Microchip Technology from $65.00 to $71.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Truist Financial boosted their target price on shares of Microchip Technology from $43.00 to $52.00 and gave the company a “hold” rating in a research report on Friday, May 9th. KeyCorp dropped their target price on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Rosenblatt Securities reiterated a “buy” rating and set a $70.00 target price on shares of Microchip Technology in a research report on Tuesday, March 4th. Finally, TD Cowen upped their price objective on shares of Microchip Technology from $35.00 to $55.00 and gave the stock a “hold” rating in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $67.42.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $60.65 on Thursday. The firm has a 50-day moving average of $47.18 and a 200-day moving average of $56.27. The company has a market cap of $32.62 billion, a P/E ratio of 108.30 and a beta of 1.42. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $100.57.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, May 8th. The semiconductor company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. The company had revenue of $970.50 million during the quarter, compared to the consensus estimate of $962.86 million. Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. The firm’s revenue for the quarter was down 26.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.57 earnings per share. Equities research analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be issued a $0.455 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $1.82 annualized dividend and a dividend yield of 3.00%. Microchip Technology’s dividend payout ratio is currently -18,200.00%.

Insider Activity

In other news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the completion of the sale, the chief financial officer now owns 33,272 shares in the company, valued at $2,025,599.36. This represents a 10.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.10% of the stock is currently owned by corporate insiders.

Microchip Technology Company 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.