Ridgewood Investments LLC Has $1.10 Million Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Ridgewood Investments LLC increased its stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 238.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,086 shares of the semiconductor company's stock after purchasing an additional 13,446 shares during the quarter. Ridgewood Investments LLC's holdings in Microchip Technology were worth $1,095,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Van ECK Associates Corp grew its stake in Microchip Technology by 25.1% during the 3rd quarter. Van ECK Associates Corp now owns 7,961,200 shares of the semiconductor company's stock valued at $599,239,000 after acquiring an additional 1,597,263 shares in the last quarter. Legal & General Group Plc grew its stake in Microchip Technology by 2.4% during the 2nd quarter. Legal & General Group Plc now owns 4,455,317 shares of the semiconductor company's stock valued at $407,660,000 after acquiring an additional 103,807 shares in the last quarter. Franklin Resources Inc. grew its stake in Microchip Technology by 30.2% during the 3rd quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company's stock valued at $264,430,000 after acquiring an additional 776,408 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Microchip Technology by 21.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,298,771 shares of the semiconductor company's stock valued at $301,797,000 after acquiring an additional 575,087 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Microchip Technology by 4.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,164,101 shares of the semiconductor company's stock valued at $289,515,000 after acquiring an additional 136,995 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Microchip Technology Price Performance

NASDAQ:MCHP traded down $1.19 during trading hours on Friday, reaching $55.19. The company had a trading volume of 7,632,827 shares, compared to its average volume of 7,771,687. The stock has a 50-day moving average of $63.23 and a two-hundred day moving average of $75.24. Microchip Technology Incorporated has a one year low of $54.47 and a one year high of $100.57. The firm has a market capitalization of $29.64 billion, a PE ratio of 38.59 and a beta of 1.52. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share for the quarter, beating 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 analysts' expectations of $1.15 billion. During the same period in the prior year, the business posted $1.54 earnings per share. The business's revenue was down 48.4% compared to the same quarter last year. Analysts forecast that Microchip Technology Incorporated will post 1.33 earnings per share for the current year.

Microchip Technology Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MCHP shares. TD Cowen lowered their target price on Microchip Technology from $80.00 to $70.00 and set a "hold" rating on the stock in a research note on Wednesday, November 6th. Bank of America lowered Microchip Technology from a "neutral" rating to an "underperform" rating and reduced their target price for the stock from $80.00 to $65.00 in a report on Monday, December 16th. Rosenblatt Securities reiterated a "buy" rating and set a $90.00 price target on shares of Microchip Technology in a report on Wednesday, November 6th. Jefferies Financial Group cut their price target on Microchip Technology from $100.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $85.00 price target on shares of Microchip Technology in a report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Microchip Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $87.11.

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.