Private Advisor Group LLC Boosts Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Private Advisor Group LLC lifted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,169 shares of the semiconductor company’s stock after buying an additional 373 shares during the quarter. Private Advisor Group LLC’s holdings in Microchip Technology were worth $3,451,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in MCHP. Van ECK Associates Corp grew its holdings in Microchip Technology by 39.3% during the 4th quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company’s stock worth $636,184,000 after acquiring an additional 3,131,807 shares in the last quarter. Franklin Resources Inc. grew its position 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 worth $264,430,000 after acquiring an additional 776,408 shares in the last quarter. Charles Schwab Investment Management Inc. raised 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 valued at $243,034,000 after acquiring an additional 25,872 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in 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 purchasing an additional 2,829,082 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in Microchip Technology by 20.1% during 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 purchasing an additional 460,697 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Performance

MCHP opened at $61.07 on Monday. The business has a fifty day simple moving average of $56.70 and a 200-day simple moving average of $68.00. The firm has a market cap of $32.84 billion, a PE ratio of 109.05 and a beta of 1.50. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. Microchip Technology Incorporated has a fifty-two week low of $50.21 and a fifty-two week 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 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 12.62%. As a group, equities analysts predict that Microchip Technology Incorporated will post 1.03 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. Shareholders of record on Monday, February 24th will be issued a dividend of $0.455 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 2.98%. Microchip Technology’s dividend payout ratio (DPR) is currently 325.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Piper Sandler reiterated an “overweight” rating and issued a $65.00 price objective (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Evercore ISI reaffirmed an “outperform” rating and set a $95.00 price target (down previously from $101.00) on shares of Microchip Technology in a report on Wednesday, November 6th. Susquehanna decreased their price objective on Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, November 6th. Finally, Citigroup cut their target price on Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.