MeadowBrook Investment Advisors LLC Buys 1,493 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

MeadowBrook Investment Advisors LLC grew its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 15.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,235 shares of the semiconductor company’s stock after buying an additional 1,493 shares during the quarter. MeadowBrook Investment Advisors LLC’s holdings in Microchip Technology were worth $644,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Assenagon Asset Management S.A. grew its stake in Microchip Technology by 9,901.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock worth $163,886,000 after acquiring an additional 2,829,082 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Microchip Technology by 25.1% in the 3rd quarter. Van ECK Associates Corp now owns 7,961,200 shares of the semiconductor company’s stock worth $599,239,000 after buying an additional 1,597,263 shares during the period. Franklin Resources Inc. increased its stake 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 valued at $264,430,000 after buying an additional 776,408 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Microchip Technology by 20.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,751,987 shares of the semiconductor company’s stock worth $220,957,000 after acquiring an additional 460,697 shares during the period. Finally, DF Dent & Co. Inc. bought a new position in Microchip Technology during the 3rd quarter worth about $27,744,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Up 1.0 %

MCHP stock opened at $52.58 on Wednesday. The firm’s fifty day simple moving average is $57.35 and its 200-day simple moving average is $69.49. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. The company has a market capitalization of $28.24 billion, a P/E ratio of 93.89 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.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate 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, equities research analysts forecast that Microchip Technology Incorporated will post 1.3 earnings per share for the current year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.455 per share. The ex-dividend date is Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.46%. Microchip Technology’s dividend payout ratio is currently 325.00%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MCHP shares. Susquehanna lowered their price target on shares of Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, November 6th. B. Riley restated a “buy” rating and set a $75.00 target price (down previously from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Mizuho cut their price target on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. TD Cowen decreased their price objective on Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Finally, StockNews.com downgraded Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.