Guyasuta Investment Advisors Inc. Purchases 6,445 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Guyasuta Investment Advisors Inc. increased its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 172.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,185 shares of the semiconductor company's stock after acquiring an additional 6,445 shares during the period. Guyasuta Investment Advisors Inc.'s holdings in Microchip Technology were worth $584,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its holdings in shares of Microchip Technology by 39.3% in the 4th quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company's stock worth $636,184,000 after purchasing an additional 3,131,807 shares during the last quarter. Franklin Resources Inc. boosted its position in Microchip Technology by 30.2% in the third quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company's stock valued at $264,430,000 after buying an additional 776,408 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Microchip Technology by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,026,946 shares of the semiconductor company's stock worth $243,034,000 after buying an additional 25,872 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Microchip Technology by 9,901.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company's stock valued at $163,886,000 after acquiring an additional 2,829,082 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Microchip Technology by 20.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,751,987 shares of the semiconductor company's stock worth $220,957,000 after acquiring an additional 460,697 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on MCHP. Morgan Stanley cut their price objective on Microchip Technology from $71.00 to $58.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. Evercore ISI reiterated an "outperform" rating and set a $95.00 price target (down previously from $101.00) on shares of Microchip Technology in a research report on Wednesday, November 6th. Mizuho decreased their price objective on shares of Microchip Technology from $85.00 to $72.00 and set an "outperform" rating on the stock in a report on Friday, January 10th. Piper Sandler reiterated an "overweight" rating and set a $65.00 target price (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Finally, Bank of America cut shares of Microchip Technology from a "neutral" rating to an "underperform" rating and decreased their price target for the company from $80.00 to $65.00 in a research note on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $77.11.

Microchip Technology Stock Performance

Shares of NASDAQ MCHP traded up $5.73 during trading hours on Wednesday, reaching $63.59. 20,919,762 shares of the stock were exchanged, compared to its average volume of 9,388,750. The stock's fifty day simple moving average is $56.58 and its 200 day simple moving average is $68.22. The firm has a market capitalization of $34.20 billion, a price-to-earnings ratio of 113.55 and a beta of 1.50. Microchip Technology Incorporated has a 52 week low of $50.21 and a 52 week high of $100.57. 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 (NASDAQ:MCHP - Get Free Report) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. Sell-side analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.455 per share. The ex-dividend date is Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 2.86%. Microchip Technology's dividend payout ratio is presently 325.00%.

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.