InvesTrust Takes $638,000 Position in Microchip Technology Incorporated (NASDAQ:MCHP)

InvesTrust purchased a new position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 11,175 shares of the semiconductor company's stock, valued at approximately $638,000.

Other hedge funds also recently made changes to their positions in the company. Candriam S.C.A. increased its holdings in Microchip Technology by 15.7% during the 2nd quarter. Candriam S.C.A. now owns 11,702 shares of the semiconductor company's stock worth $1,071,000 after acquiring an additional 1,584 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Microchip Technology in the second quarter worth $788,000. Ballentine Partners LLC boosted its stake in Microchip Technology by 56.4% during the second quarter. Ballentine Partners LLC now owns 5,073 shares of the semiconductor company's stock valued at $464,000 after buying an additional 1,829 shares during the period. First Foundation Advisors boosted its stake in Microchip Technology by 5.1% during the second quarter. First Foundation Advisors now owns 5,559 shares of the semiconductor company's stock valued at $509,000 after buying an additional 269 shares during the period. Finally, Global X Japan Co. Ltd. grew its position in Microchip Technology by 30.6% during the second quarter. Global X Japan Co. Ltd. now owns 54,270 shares of the semiconductor company's stock worth $4,966,000 after buying an additional 12,714 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Stifel Nicolaus dropped their price target on Microchip Technology from $90.00 to $87.00 and set a "buy" rating for the company in a research report on Tuesday, December 3rd. Susquehanna dropped their target price on shares of Microchip Technology from $95.00 to $90.00 and set a "positive" rating for the company in a research report on Wednesday, November 6th. Jefferies Financial Group cut their price target on shares of Microchip Technology from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Truist Financial cut shares of Microchip Technology from a "buy" rating to a "hold" rating and lowered their price objective for the company from $89.00 to $80.00 in a research report on Monday, September 23rd. Finally, Bank of America lowered shares of Microchip Technology from a "neutral" rating to an "underperform" rating and cut their target price for the stock from $80.00 to $65.00 in a research report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $89.63.

Microchip Technology Trading Down 1.9 %

MCHP traded down $1.09 during trading on Wednesday, hitting $56.38. 6,226,076 shares of the stock traded hands, compared to its average volume of 7,799,313. The firm has a market capitalization of $30.28 billion, a P/E ratio of 39.43 and a beta of 1.52. Microchip Technology Incorporated has a 12-month low of $55.27 and a 12-month high of $100.57. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. The firm has a 50-day moving average of $63.95 and a 200 day moving average of $75.51.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.03. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates 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 prior year, the business posted $1.54 earnings per share. Equities research analysts anticipate that Microchip Technology Incorporated will post 1.33 EPS for the current year.

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were issued a $0.455 dividend. The ex-dividend date was Friday, November 22nd. This represents a $1.82 annualized dividend and a yield of 3.23%. This is a boost from Microchip Technology's previous quarterly dividend of $0.45. Microchip Technology's payout ratio is 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.