5 Stocks to Invest in Today According to Billionaire Kerr Neilson

3. Microchip Technology Incorporated (NASDAQ:MCHP)

Platinum Asset Management’s Stake Value: $301 million

Percentage of Platinum Asset Management’s 13F Portfolio: 8.49%

Number of Hedge Fund Holders: 41

Platinum Asset Management used the dip in Microchip Technology Incorporated (NASDAQ:MCHP) stock price as a buying opportunity. The firm lifted its existing stake in the company by 6% during the September quarter. The stock price of Microchip has rebounded in the last two months, and analysts expect it to climb further. Jefferies Financial Group increased its price target for Microchip Technology to $109.

The number of long hedge funds’ positions declined in Microchip Technology by 9 to 41 as of September. Like Platinum Asset Management, Two Sigma Advisors and Point72 Asset Management were among the leading stakeholders in the company.