Four Tree Island Advisory LLC Takes $385,000 Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Four Tree Island Advisory LLC bought a new stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,719 shares of the semiconductor company's stock, valued at approximately $385,000. Microchip Technology accounts for about 0.3% of Four Tree Island Advisory LLC's portfolio, making the stock its 21st largest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MCHP. Prospera Private Wealth LLC acquired a new position in Microchip Technology in the third quarter valued at about $29,000. Financial Life Planners acquired a new position in Microchip Technology in the fourth quarter valued at about $32,000. Peterson Financial Group Inc. acquired a new position in Microchip Technology in the third quarter valued at about $34,000. Truvestments Capital LLC acquired a new position in Microchip Technology in the third quarter valued at about $34,000. Finally, Wolff Wiese Magana LLC grew its stake in Microchip Technology by 55.2% in the third quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company's stock valued at $49,000 after acquiring an additional 218 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Stock Performance

NASDAQ:MCHP traded up $0.41 on Thursday, hitting $54.26. The company's stock had a trading volume of 6,786,746 shares, compared to its average volume of 9,002,453. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71. The stock has a fifty day moving average of $56.94 and a two-hundred day moving average of $69.14. The firm has a market capitalization of $29.14 billion, a P/E ratio of 96.89 and a beta of 1.50. Microchip Technology Incorporated has a one year low of $50.21 and a one year high of $100.57.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) 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 12.41%. Research analysts predict that Microchip Technology Incorporated will post 1.3 earnings per share for the current year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Monday, February 24th will be paid a $0.455 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.35%. Microchip Technology's dividend payout ratio is 325.00%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MCHP shares. Morgan Stanley decreased their target price on Microchip Technology from $71.00 to $58.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. Needham & Company LLC cut their price target on Microchip Technology from $85.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Jefferies Financial Group cut their price target on Microchip Technology from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. Stifel Nicolaus cut 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. Finally, Susquehanna cut their price target on Microchip Technology from $95.00 to $90.00 and set a "positive" rating on the stock in a report on Wednesday, November 6th. Two 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $77.11.

About Microchip Technology

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.