Capstone Asset Management Company increased its stake in Microchip Technology Inc. (NASDAQ:MCHP) by 58.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,058 shares of the company’s stock after buying an additional 8,110 shares during the period. Capstone Asset Management Company’s holdings in Microchip Technology were worth $1,027,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of MCHP. Raymond James Trust increased its position in shares of Microchip Technology by 14.9% in the fourth quarter. Raymond James Trust now owns 22,333 shares of the company’s stock valued at $1,040,000 after buying an additional 2,899 shares in the last quarter. Crestpoint Capital Management increased its stake in shares of Microchip Technology by 0.9% in the fourth quarter. Crestpoint Capital Management now owns 46,200 shares of the company’s stock worth $2,150,000 after buying an additional 400 shares during the period. Community Bank & Trust of Waco, Texas acquired a new stake in shares of Microchip Technology during the fourth quarter worth about $2,591,000. First American Bank increased its stake in shares of Microchip Technology by 1.1% in the fourth quarter. First American Bank now owns 66,592 shares of the company’s stock worth $3,099,000 after buying an additional 710 shares during the period. Finally, Trust Company of Virginia increased its stake in shares of Microchip Technology by 4.5% in the fourth quarter. Trust Company of Virginia now owns 110,991 shares of the company’s stock worth $5,165,000 after buying an additional 4,819 shares during the period.

Microchip Technology Inc. (NASDAQ:MCHP) traded down 0.87% during trading on Monday, hitting $44.49. The stock had a trading volume of 2,891,355 shares. Microchip Technology Inc. has a 12 month low of $37.77 and a 12 month high of $52.18. The stock has a market cap of $9.05 billion and a price-to-earnings ratio of 27.28. The stock has a 50 day moving average price of $42.52 and a 200-day moving average price of $44.61.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Wednesday, February 3rd. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. During the same quarter in the prior year, the business posted $0.64 EPS. The business had revenue of $552 million for the quarter, compared to analysts’ expectations of $551.85 million. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities analysts predict that Microchip Technology Inc. will post $2.65 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 7th. Investors of record on Monday, February 22nd will be given a dividend of $0.359 per share. This represents a $1.44 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Thursday, February 18th. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36.

A number of brokerages have recently issued reports on MCHP. Needham & Company LLC reiterated a “hold” rating on shares of Microchip Technology in a research report on Thursday, November 5th. B. Riley upgraded Microchip Technology from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Thursday, November 5th. Susquehanna reiterated a “positive” rating and set a $56.00 price target (up previously from $53.00) on shares of Microchip Technology in a research report on Thursday, November 5th. Bank of America began coverage on Microchip Technology in a research report on Monday, November 9th. They set a “neutral” rating and a $52.00 price target for the company. Finally, Zacks Investment Researchdowngraded Microchip Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $51.76.

In related news, VP Stephen V. Drehobl sold 3,559 shares of the stock in a transaction dated Monday, February 22nd. The stock was sold at an average price of $42.95, for a total transaction of $152,859.05. Following the completion of the sale, the vice president now owns 13,101 shares in the company, valued at $562,687.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James Eric Bjornholt sold 1,956 shares of the stock in a transaction dated Monday, February 22nd. The stock was sold at an average price of $48.84, for a total value of $95,531.04. The disclosure for this sale can be found here.

Microchip Technology Incorporated develops, manufactures and sells specialized semiconductor products for a range of embedded control applications. The Company operates in segments, including semiconductor products and technology licensing. The Company’s product portfolio consists of general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; linear, mixed-signal, power management; thermal management; Radio-frequency (NASDAQ:MCHP), safety, security, wired connectivity and wireless connectivity devices, as well as serial EEPROMs, Serial Flash memories, Parallel Flash memories and serial Static Random Access Memory (SRAM).