Truist Financial Corp Increases Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Truist Financial Corp lifted its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 959,439 shares of the semiconductor company's stock after acquiring an additional 52,222 shares during the quarter. Truist Financial Corp owned approximately 0.18% of Microchip Technology worth $55,024,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in MCHP. Corundum Group Inc. increased its position in shares of Microchip Technology by 3.4% during the third quarter. Corundum Group Inc. now owns 4,315 shares of the semiconductor company's stock valued at $346,000 after buying an additional 143 shares during the period. Financial Advocates Investment Management grew its holdings in shares of Microchip Technology by 1.5% during the 3rd quarter. Financial Advocates Investment Management now owns 10,795 shares of the semiconductor company's stock worth $867,000 after acquiring an additional 158 shares during the period. Metis Global Partners LLC raised its position in shares of Microchip Technology by 1.0% in the 3rd quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company's stock worth $1,378,000 after acquiring an additional 172 shares in the last quarter. Americana Partners LLC lifted its stake in shares of Microchip Technology by 5.5% in the 3rd quarter. Americana Partners LLC now owns 3,441 shares of the semiconductor company's stock valued at $276,000 after purchasing an additional 179 shares during the period. Finally, Plato Investment Management Ltd boosted its position in shares of Microchip Technology by 5.8% during the third quarter. Plato Investment Management Ltd now owns 3,499 shares of the semiconductor company's stock valued at $281,000 after purchasing an additional 191 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Stock Performance

Shares of MCHP stock traded down $3.23 during mid-day trading on Friday, reaching $61.07. 13,460,788 shares of the company's stock traded hands, compared to its average volume of 9,662,867. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. The firm has a market capitalization of $32.84 billion, a PE ratio of 109.05 and a beta of 1.50. Microchip Technology Incorporated has a 12 month low of $50.21 and a 12 month high of $100.57. The firm has a 50 day moving average price of $56.68 and a two-hundred day moving average price of $68.16.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. On average, research analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently announced 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. This represents a $1.82 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Monday, February 24th. Microchip Technology's dividend payout ratio is currently 325.00%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. B. Riley reiterated a "buy" rating and issued a $75.00 price target (down from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Rosenblatt Securities restated a "buy" rating and set a $90.00 price target on shares of Microchip Technology in a report on Thursday, February 6th. The Goldman Sachs Group dropped their price target on shares of Microchip Technology from $72.00 to $63.00 and set a "neutral" rating on the stock in a research note on Friday, January 10th. StockNews.com lowered shares of Microchip Technology from a "hold" rating to a "sell" rating in a research note on Monday, February 10th. Finally, Evercore ISI reiterated an "outperform" rating and issued a $95.00 target price (down previously from $101.00) on shares of Microchip Technology in a research note on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Microchip Technology has a consensus rating of "Moderate Buy" and a consensus price target of $77.11.

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.