Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 13.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,680 shares of the semiconductor company's stock after acquiring an additional 7,780 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Microchip Technology were worth $3,824,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of MCHP. Prospera Private Wealth LLC bought a new stake in Microchip Technology in the 3rd quarter valued at $29,000. Financial Life Planners bought a new stake in shares of Microchip Technology in the fourth quarter valued at about $32,000. Peterson Financial Group Inc. bought a new stake in shares of Microchip Technology in the third quarter valued at about $34,000. Truvestments Capital LLC bought a new stake in shares of Microchip Technology in the 3rd quarter worth approximately $34,000. Finally, Wolff Wiese Magana LLC lifted its position in shares of 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 period. 91.51% of the stock is currently owned by institutional investors.
Microchip Technology Trading Up 0.8 %
MCHP stock traded up $0.41 during trading on Thursday, hitting $54.26. The company had a trading volume of 6,786,746 shares, compared to its average volume of 9,002,453. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average price of $56.94 and a 200-day moving average price of $69.14. Microchip Technology Incorporated has a 12 month low of $50.21 and a 12 month high of $100.57. The stock has a market cap of $29.14 billion, a price-to-earnings ratio of 96.89 and a beta of 1.50.
Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.41% and a net margin of 6.49%. As a group, analysts predict that Microchip Technology Incorporated will post 1.3 earnings per share for the current year.
Microchip Technology Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be issued a $0.455 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.35%. Microchip Technology's dividend payout ratio is currently 325.00%.
Analyst Ratings Changes
A number of analysts have commented on the company. B. Riley reiterated a "buy" rating and issued a $75.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Needham & Company LLC reduced their price objective on shares of Microchip Technology from $85.00 to $60.00 and set a "buy" rating for the company in a report on Friday, February 7th. Piper Sandler reaffirmed an "overweight" rating and set a $65.00 price objective (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Morgan Stanley cut their price target on shares of 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. Finally, Mizuho cut their price target on shares of Microchip Technology from $85.00 to $72.00 and set an "outperform" rating for the company in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $77.11.
Get Our Latest Stock Report on Microchip Technology
Microchip Technology Profile
(
Free Report)
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.
Further Reading
Before you consider Microchip Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Microchip Technology wasn't on the list.
While Microchip Technology currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
