Microchip Technology Incorporated (NASDAQ:MCHP) Shares Purchased by Empower Advisory Group LLC

Empower Advisory Group LLC raised its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 10.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,836 shares of the semiconductor company’s stock after purchasing an additional 366 shares during the quarter. Empower Advisory Group LLC’s holdings in Microchip Technology were worth $220,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Pallas Capital Advisors LLC bought a new position in Microchip Technology during the 4th quarter worth approximately $5,917,000. Consolidated Planning Corp bought a new position in Microchip Technology during the 4th quarter worth approximately $308,000. Quadrature Capital Ltd bought a new position in Microchip Technology during the 3rd quarter worth approximately $3,312,000. Symphony Financial Ltd. Co. bought a new position in Microchip Technology during the 4th quarter worth approximately $520,000. Finally, Benjamin Edwards Inc. lifted its holdings in Microchip Technology by 5,185.4% during the 3rd quarter. Benjamin Edwards Inc. now owns 9,408 shares of the semiconductor company’s stock worth $755,000 after buying an additional 9,230 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Stock Up 1.1 %

MCHP opened at $64.30 on Friday. Microchip Technology Incorporated has a one year low of $50.21 and a one year high of $100.57. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. The stock’s fifty day moving average is $56.63 and its 200-day moving average is $68.19. The company has a market capitalization of $34.58 billion, a PE ratio of 114.82 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 EPS 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%. On average, equities analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Monday, February 24th. Microchip Technology’s dividend payout ratio is presently 325.00%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. B. Riley reaffirmed 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. Jefferies Financial Group cut their price target on Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. KeyCorp cut their price target on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. Piper Sandler reissued an “overweight” rating and issued a $65.00 price target (down previously from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Finally, Evercore ISI reissued an “outperform” rating and issued a $95.00 price target (down previously from $101.00) on shares of Microchip Technology in a report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $77.11.

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.