Microchip Technology Incorporated (NASDAQ:MCHP) Shares Purchased by Godsey & Gibb Inc.

Godsey & Gibb Inc. grew its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 257,334 shares of the semiconductor company's stock after acquiring an additional 6,953 shares during the period. Godsey & Gibb Inc.'s holdings in Microchip Technology were worth $14,758,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Acadian Asset Management LLC acquired a new position in Microchip Technology during the 2nd quarter worth approximately $788,000. Parallel Advisors LLC grew its holdings in Microchip Technology by 2.9% during the second quarter. Parallel Advisors LLC now owns 6,351 shares of the semiconductor company's stock worth $581,000 after acquiring an additional 178 shares during the period. Dimensional Fund Advisors LP grew its holdings in Microchip Technology by 21.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,298,771 shares of the semiconductor company's stock worth $301,797,000 after acquiring an additional 575,087 shares during the period. Citizens Financial Group Inc. RI purchased a new position in Microchip Technology in the second quarter worth $890,000. Finally, Renaissance Technologies LLC lifted its holdings in Microchip Technology by 47.2% in the second quarter. Renaissance Technologies LLC now owns 394,207 shares of the semiconductor company's stock valued at $36,070,000 after acquiring an additional 126,351 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Trading Down 1.4 %

Shares of NASDAQ MCHP traded down $0.81 during midday trading on Thursday, reaching $56.19. 7,925,166 shares of the stock were exchanged, compared to its average volume of 7,620,015. The stock has a 50 day moving average price of $61.77 and a 200-day moving average price of $74.20. 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 company has a market capitalization of $30.17 billion, a P/E ratio of 39.29 and a beta of 1.52. Microchip Technology Incorporated has a 52-week low of $54.47 and a 52-week high of $100.57.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.43 by $0.03. The firm had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.15 billion. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. Microchip Technology's revenue for the quarter was down 48.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.54 EPS. Equities research analysts expect that Microchip Technology Incorporated will post 1.32 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were paid a $0.455 dividend. This is a positive change from Microchip Technology's previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend was Friday, November 22nd. Microchip Technology's dividend payout ratio is presently 127.27%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MCHP. Stifel Nicolaus lowered their price target on shares of Microchip Technology from $90.00 to $87.00 and set a "buy" rating on the stock in a research note on Tuesday, December 3rd. Citigroup lowered their target price on shares of Microchip Technology from $92.00 to $82.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. StockNews.com upgraded shares of Microchip Technology from a "sell" rating to a "hold" rating in a research report on Friday, December 13th. Jefferies Financial Group lowered 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. Finally, Mizuho dropped their price objective on Microchip Technology from $85.00 to $72.00 and set an "outperform" rating for the company in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Microchip Technology has a consensus rating of "Moderate Buy" and a consensus price target of $86.05.

Microchip Technology 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.