CWA Asset Management Group LLC Invests $3.83 Million in Microchip Technology Incorporated (NASDAQ:MCHP)

CWA Asset Management Group LLC bought a new stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 47,696 shares of the semiconductor company's stock, valued at approximately $3,830,000.

Several other hedge funds have also recently made changes to their positions in MCHP. Pathway Financial Advisers LLC bought a new stake in shares of Microchip Technology during the 1st quarter valued at $39,000. Versant Capital Management Inc raised its stake in shares of Microchip Technology by 148.8% during the 2nd quarter. Versant Capital Management Inc now owns 530 shares of the semiconductor company's stock valued at $48,000 after purchasing an additional 317 shares during the period. CarsonAllaria Wealth Management Ltd. bought a new position in Microchip Technology in the 1st quarter worth about $54,000. TruNorth Capital Management LLC bought a new position in Microchip Technology in the 2nd quarter worth about $55,000. Finally, Wolff Wiese Magana LLC increased its stake in Microchip Technology by 55.2% in the 3rd quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company's stock worth $49,000 after acquiring an additional 218 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Mizuho set a $95.00 price objective on Microchip Technology in a report on Friday, October 18th. TD Cowen decreased their target price on Microchip Technology from $80.00 to $70.00 and set a "hold" rating for the company in a research report on Wednesday. Susquehanna decreased their target price on Microchip Technology from $95.00 to $90.00 and set a "positive" rating for the company in a research report on Wednesday. Citigroup decreased their target price on Microchip Technology from $92.00 to $82.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, StockNews.com lowered Microchip Technology from a "hold" rating to a "sell" rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $92.00.

Insider Activity at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,154 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $81.50, for a total value of $175,551.00. Following the completion of the sale, the chief financial officer now directly owns 33,257 shares of the company's stock, valued at $2,710,445.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.10% of the stock is currently owned by insiders.

Microchip Technology Stock Performance

Shares of NASDAQ MCHP traded down $1.47 during midday trading on Friday, hitting $72.87. The company's stock had a trading volume of 6,290,308 shares, compared to its average volume of 5,325,453. Microchip Technology Incorporated has a 1-year low of $71.76 and a 1-year high of $100.57. The firm's fifty day moving average price is $76.73 and its 200-day moving average price is $84.98. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.08 and a current ratio of 0.88. The firm has a market cap of $39.13 billion, a P/E ratio of 50.96 and a beta of 1.53.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.03. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the firm earned $1.54 EPS. Microchip Technology's revenue was down 48.4% on a year-over-year basis. On average, sell-side analysts forecast that Microchip Technology Incorporated will post 1.73 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be given a dividend of $0.455 per share. The ex-dividend date of this dividend is Friday, November 22nd. This is an increase from Microchip Technology's previous quarterly dividend of $0.45. This represents a $1.82 dividend on an annualized basis and a yield of 2.50%. Microchip Technology's payout ratio is presently 127.27%.

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.