Bank of Jackson Hole Trust acquired a new stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,038 shares of the semiconductor company's stock, valued at approximately $461,000.
Several other institutional investors have also recently added to or reduced their stakes in the business. Prospera Private Wealth LLC acquired a new stake in shares of Microchip Technology during the third quarter worth approximately $29,000. Peterson Financial Group Inc. acquired a new position in shares of Microchip Technology in the 3rd quarter worth $34,000. Truvestments Capital LLC purchased a new stake in shares of Microchip Technology in the 3rd quarter valued at approximately $34,000. Financial Life Planners purchased a new stake in shares of Microchip Technology in the fourth quarter worth approximately $32,000. Finally, Hobbs Group Advisors LLC lifted its holdings in shares of Microchip Technology by 390.6% during the 3rd quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company's stock valued at $50,000 after buying an additional 500 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.
Microchip Technology Price Performance
Microchip Technology stock traded down $3.23 during midday trading on Friday, reaching $61.07. 13,460,788 shares of the company were exchanged, compared to its average volume of 9,662,867. The company has a market capitalization of $32.84 billion, a price-to-earnings ratio of 109.05 and a beta of 1.50. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. Microchip Technology Incorporated has a 1 year low of $50.21 and a 1 year high of $100.57. The firm's 50-day simple moving average is $56.68 and its 200-day simple moving average is $68.16.
Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. On average, analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current year.
Microchip Technology Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be paid a dividend of $0.455 per share. The ex-dividend date is Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 2.98%. Microchip Technology's dividend payout ratio is currently 325.00%.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on MCHP. B. Riley restated a "buy" rating and set a $75.00 price objective (down previously from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Evercore ISI reaffirmed an "outperform" rating and set a $95.00 price target (down from $101.00) on shares of Microchip Technology in a report on Wednesday, November 6th. Stifel Nicolaus decreased their price target on Microchip Technology from $90.00 to $87.00 and set a "buy" rating on the stock in a report on Tuesday, December 3rd. StockNews.com cut Microchip Technology from a "hold" rating to a "sell" rating in a research note on Monday, February 10th. Finally, The Goldman Sachs Group cut their price target on shares of Microchip Technology from $72.00 to $63.00 and set a "neutral" rating on the stock in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $77.11.
Read Our Latest Research Report on Microchip Technology
About Microchip Technology
(
Free Report)
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.
Featured Stories
Before you consider Microchip Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Microchip Technology wasn't on the list.
While Microchip Technology currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
