Microchip Technology Incorporated (NASDAQ:MCHP) Shares Acquired by Savant Capital LLC

Savant Capital LLC boosted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 11.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,158 shares of the semiconductor company’s stock after acquiring an additional 636 shares during the quarter. Savant Capital LLC’s holdings in Microchip Technology were worth $353,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Prospera Private Wealth LLC purchased a new stake in Microchip Technology in the 3rd quarter valued at $29,000. Peterson Financial Group Inc. purchased a new position in Microchip Technology during the 3rd quarter worth approximately $34,000. Truvestments Capital LLC purchased a new position in shares of Microchip Technology in the 3rd quarter valued at approximately $34,000. Financial Life Planners purchased a new stake in shares of Microchip Technology in the fourth quarter valued at approximately $32,000. Finally, Hobbs Group Advisors LLC raised its holdings in Microchip Technology by 390.6% during the third quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 500 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Stifel Nicolaus dropped their target price on Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, December 3rd. Bank of America lowered Microchip Technology from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $80.00 to $65.00 in a report on Monday, December 16th. Raymond James reissued a “strong-buy” rating and set a $60.00 price objective (down from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. Susquehanna cut 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, TD Cowen lowered their price target on Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $77.11.

Microchip Technology Stock Performance

MCHP stock opened at $55.76 on Tuesday. The company has a 50 day moving average price of $56.79 and a 200 day moving average price of $68.55. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. Microchip Technology Incorporated has a fifty-two week low of $50.21 and a fifty-two week high of $100.57. The stock has a market capitalization of $29.94 billion, a PE ratio of 99.57 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 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%. Analysts forecast that Microchip Technology Incorporated will post 1.3 EPS for the current year.

Microchip Technology Dividend Announcement

The firm also recently announced 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 of this dividend is Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 3.26%. Microchip Technology’s dividend payout ratio is presently 325.00%.

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.