Vest Financial LLC increased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 68.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,081 shares of the semiconductor company's stock after buying an additional 4,903 shares during the quarter. Vest Financial LLC's holdings in Microchip Technology were worth $693,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Pallas Capital Advisors LLC purchased a new stake in Microchip Technology in the fourth quarter valued at approximately $5,917,000. Quadrature Capital Ltd purchased a new stake in Microchip Technology in the third quarter valued at approximately $3,312,000. Symphony Financial Ltd. Co. purchased a new stake in Microchip Technology in the fourth quarter valued at approximately $520,000. Benjamin Edwards Inc. raised its position in Microchip Technology by 5,185.4% in the third quarter. Benjamin Edwards Inc. now owns 9,408 shares of the semiconductor company's stock valued at $755,000 after purchasing an additional 9,230 shares during the period. Finally, Empowered Funds LLC raised its position in Microchip Technology by 25.7% in the third quarter. Empowered Funds LLC now owns 96,163 shares of the semiconductor company's stock valued at $7,721,000 after purchasing an additional 19,663 shares during the period. Hedge funds and other institutional investors own 91.51% of the company's stock.
Microchip Technology Stock Performance
MCHP traded up $0.41 on Thursday, reaching $54.26. The company had a trading volume of 6,786,746 shares, compared to its average volume of 9,002,453. Microchip Technology Incorporated has a 1 year low of $50.21 and a 1 year high of $100.57. The stock has a market capitalization of $29.14 billion, a PE ratio of 96.89 and a beta of 1.50. 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 stock has a 50-day moving average price of $56.94 and a 200-day moving average price of $69.14.
Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its quarterly 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 net margin of 6.49% and a return on equity of 12.41%. As a group, research analysts forecast that Microchip Technology Incorporated will post 1.3 EPS for the current fiscal year.
Microchip Technology Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be issued a $0.455 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.35%. Microchip Technology's payout ratio is 325.00%.
Wall Street Analysts Forecast Growth
Several research firms have commented on MCHP. Morgan Stanley dropped 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. Jefferies Financial Group dropped their price target on shares of Microchip Technology from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Raymond James restated a "strong-buy" rating and issued a $60.00 price target (down previously from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. StockNews.com downgraded shares of Microchip Technology from a "hold" rating to a "sell" rating in a research note on Monday. Finally, KeyCorp dropped their price target on shares of Microchip Technology from $70.00 to $60.00 and set an "overweight" rating for the company in a research note on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Microchip Technology has an average rating of "Moderate Buy" and a consensus price target of $77.11.
View Our Latest Report on Microchip Technology
About Microchip Technology
(
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.
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