Venturi Wealth Management LLC Acquires 4,478 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Venturi Wealth Management LLC boosted its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 54.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,668 shares of the semiconductor company's stock after acquiring an additional 4,478 shares during the period. Venturi Wealth Management LLC's holdings in Microchip Technology were worth $727,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCHP. Van ECK Associates Corp raised its position in shares of Microchip Technology by 39.3% in the 4th quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company's stock valued at $636,184,000 after acquiring an additional 3,131,807 shares during the period. Assenagon Asset Management S.A. raised its holdings in Microchip Technology by 9,901.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company's stock worth $163,886,000 after purchasing an additional 2,829,082 shares during the period. Franklin Resources Inc. boosted its position in shares of Microchip Technology by 30.2% during the third quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company's stock worth $264,430,000 after purchasing an additional 776,408 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Microchip Technology by 20.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,751,987 shares of the semiconductor company's stock valued at $220,957,000 after buying an additional 460,697 shares during the period. Finally, DF Dent & Co. Inc. bought a new stake in shares of Microchip Technology in the 3rd quarter valued at $27,744,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Price Performance

Shares of MCHP traded down $3.28 during midday trading on Friday, hitting $61.02. The company's stock had a trading volume of 5,243,114 shares, compared to its average volume of 9,414,155. Microchip Technology Incorporated has a one year low of $50.21 and a one year high of $100.57. The company's fifty day simple moving average is $56.68 and its two-hundred day simple moving average is $68.16. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $32.82 billion, a price-to-earnings ratio of 108.55 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings data 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 12.62% and a net margin of 6.49%. As a group, equities analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be given a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 2.98%. The ex-dividend date is Monday, February 24th. Microchip Technology's payout ratio is currently 325.00%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MCHP shares. Citigroup lowered their target price on Microchip Technology from $92.00 to $82.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. B. Riley restated a "buy" rating and set a $75.00 price objective (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Stifel Nicolaus reduced their target price on shares of Microchip Technology from $90.00 to $87.00 and set a "buy" rating for the company in a research note on Tuesday, December 3rd. Mizuho lowered their target price on Microchip Technology from $85.00 to $72.00 and set an "outperform" rating for the company in a report on Friday, January 10th. Finally, Susquehanna cut their price target on Microchip Technology from $95.00 to $90.00 and set a "positive" rating on the stock in a report on Wednesday, November 6th. Two 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 data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $77.11.

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.