Pacer Advisors Inc. Grows Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Pacer Advisors Inc. raised its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 10.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 100,434 shares of the semiconductor company's stock after purchasing an additional 9,152 shares during the period. Pacer Advisors Inc.'s holdings in Microchip Technology were worth $5,760,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Prospera Private Wealth LLC purchased a new stake in Microchip Technology in the third quarter valued at about $29,000. Peterson Financial Group Inc. acquired a new stake in Microchip Technology in the 3rd quarter worth approximately $34,000. Truvestments Capital LLC purchased a new stake in Microchip Technology during the 3rd quarter worth approximately $34,000. Wolff Wiese Magana LLC increased its stake in Microchip Technology by 55.2% during the 3rd quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company's stock valued at $49,000 after purchasing an additional 218 shares in the last quarter. Finally, Hobbs Group Advisors LLC raised its holdings in shares of Microchip Technology by 390.6% in the third quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company's stock worth $50,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Microchip Technology Price Performance

Shares of MCHP traded down $0.87 during mid-day trading on Thursday, hitting $55.16. 8,446,504 shares of the company were exchanged, compared to its average volume of 8,083,543. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88. Microchip Technology Incorporated has a 1-year low of $54.18 and a 1-year high of $100.57. The stock has a market cap of $29.62 billion, a price-to-earnings ratio of 38.57 and a beta of 1.52. The company has a 50 day moving average of $59.77 and a 200-day moving average of $71.72.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.03. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the company posted $1.54 earnings per share. The business's revenue was down 48.4% on a year-over-year basis. Analysts expect that Microchip Technology Incorporated will post 1.31 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a $0.455 dividend. This is an increase from Microchip Technology's previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend was Friday, November 22nd. Microchip Technology's dividend payout ratio (DPR) is currently 127.27%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Rosenblatt Securities reissued a "buy" rating and issued a $90.00 target price on shares of Microchip Technology in a research report on Wednesday, November 6th. Jefferies Financial Group reduced their price objective on Microchip Technology from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Citigroup dropped their target price on Microchip Technology from $92.00 to $82.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. Piper Sandler reduced their price target on shares of Microchip Technology from $100.00 to $85.00 and set an "overweight" rating for the company in a research report on Wednesday, November 6th. Finally, TD Cowen dropped their price objective on shares of Microchip Technology from $80.00 to $70.00 and set a "hold" rating on the stock in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $84.00.

About Microchip Technology

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.