Howard Bailey Securities LLC Buys 1,152 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Howard Bailey Securities LLC boosted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 31.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,816 shares of the semiconductor company’s stock after buying an additional 1,152 shares during the quarter. Howard Bailey Securities LLC’s holdings in Microchip Technology were worth $276,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp lifted its stake in shares of Microchip Technology by 39.3% during the fourth 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. Franklin Resources Inc. boosted its stake in shares of Microchip Technology by 30.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company’s stock valued at $264,430,000 after purchasing an additional 776,408 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Microchip Technology by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,026,946 shares of the semiconductor company’s stock worth $243,034,000 after buying an additional 25,872 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Microchip Technology by 9,901.6% during 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 buying an additional 2,829,082 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted 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 valued at $220,957,000 after acquiring an additional 460,697 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Trading Up 2.4 %

NASDAQ:MCHP opened at $53.85 on Thursday. The company has a market cap of $28.92 billion, a P/E ratio of 96.16 and a beta of 1.50. Microchip Technology Incorporated has a twelve month low of $50.21 and a twelve month high of $100.57. The business has a 50 day moving average price of $57.09 and a two-hundred day moving average price of $69.25. 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) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.41% and a net margin of 6.49%. As a group, analysts expect that Microchip Technology Incorporated will post 1.3 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Monday, February 24th. Microchip Technology’s dividend payout ratio is currently 325.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Rosenblatt Securities reissued a “buy” rating and issued a $90.00 price target on shares of Microchip Technology in a research note on Thursday, February 6th. Jefferies Financial Group reduced their target price on Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $65.00 price target (down from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. StockNews.com lowered shares of Microchip Technology from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Bank of America downgraded shares of Microchip Technology from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $80.00 to $65.00 in a research note on Monday, December 16th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Microchip Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.11.

Microchip Technology Company 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.