JFG Wealth Management LLC Invests $388,000 in Microchip Technology Incorporated (NASDAQ:MCHP)

JFG Wealth Management LLC bought a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,759 shares of the semiconductor company’s stock, valued at approximately $388,000.

A number of other large investors also recently added to or reduced their stakes in MCHP. International Assets Investment Management LLC lifted its holdings in shares of Microchip Technology by 8,163.6% in the 3rd quarter. International Assets Investment Management LLC now owns 234,768 shares of the semiconductor company’s stock valued at $18,850,000 after acquiring an additional 231,927 shares during the last quarter. Dakota Wealth Management lifted its stake in shares of Microchip Technology by 13.8% in the 3rd quarter. Dakota Wealth Management now owns 5,951 shares of the semiconductor company’s stock valued at $478,000 after purchasing an additional 722 shares during the last quarter. Arkadios Wealth Advisors boosted its holdings in shares of Microchip Technology by 74.6% in the 3rd quarter. Arkadios Wealth Advisors now owns 6,214 shares of the semiconductor company’s stock worth $499,000 after purchasing an additional 2,656 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of Microchip Technology by 6.1% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 269,062 shares of the semiconductor company’s stock valued at $21,545,000 after purchasing an additional 15,373 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in Microchip Technology by 6.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 62,342 shares of the semiconductor company’s stock valued at $5,005,000 after buying an additional 3,580 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Stock Down 1.1 %

Shares of Microchip Technology stock opened at $60.19 on Wednesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The stock has a market cap of $32.37 billion, a price-to-earnings ratio of 107.48 and a beta of 1.50. The firm’s 50-day moving average is $56.78 and its two-hundred day moving average is $67.77. Microchip Technology Incorporated has a 1 year low of $50.21 and a 1 year high of $100.57.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) 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 12.62%. As a group, research analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be given a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Monday, February 24th. Microchip Technology’s payout ratio is 325.00%.

Analyst Ratings Changes

MCHP has been the subject of several recent analyst reports. Needham & Company LLC dropped their price objective on shares of Microchip Technology from $85.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, February 7th. B. Riley reaffirmed a “buy” rating and set a $75.00 price target (down from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Evercore ISI reissued an “outperform” rating and issued a $95.00 price objective (down from $101.00) on shares of Microchip Technology in a research report on Wednesday, November 6th. Rosenblatt Securities reissued a “buy” rating and issued a $90.00 price objective on shares of Microchip Technology in a research note on Thursday, February 6th. Finally, TD Cowen cut their target price on Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Microchip Technology 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.