Microchip Technology Incorporated (NASDAQ:MCHP) Stock Position Raised by Czech National Bank

Czech National Bank lifted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 6.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 116,435 shares of the semiconductor company’s stock after purchasing an additional 7,144 shares during the quarter. Czech National Bank’s holdings in Microchip Technology were worth $6,678,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Prospera Private Wealth LLC acquired a new stake in Microchip Technology in the third quarter worth $29,000. Peterson Financial Group Inc. acquired a new stake in shares of Microchip Technology in the third quarter valued at approximately $34,000. Truvestments Capital LLC bought a new stake in shares of Microchip Technology during the third quarter valued at approximately $34,000. Wolff Wiese Magana LLC boosted its position in shares of Microchip Technology by 55.2% during the third quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock worth $49,000 after buying an additional 218 shares during the period. Finally, Hobbs Group Advisors LLC grew its holdings in Microchip Technology by 390.6% in the 3rd quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock worth $50,000 after buying an additional 500 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Trading Up 1.7 %

NASDAQ MCHP opened at $56.88 on Wednesday. The firm’s 50 day moving average price is $62.10 and its two-hundred day moving average price is $74.32. The stock has a market cap of $30.55 billion, a price-to-earnings ratio of 39.78 and a beta of 1.52. Microchip Technology Incorporated has a twelve month low of $54.47 and a twelve month high of $100.57. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the firm posted $1.54 earnings per share. The firm’s revenue was down 48.4% on a year-over-year basis. Equities analysts anticipate that Microchip Technology Incorporated will post 1.33 EPS for the current year.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 3.20%. The ex-dividend date was Friday, November 22nd. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio (DPR) is presently 127.27%.

Wall Street Analysts Forecast Growth

MCHP has been the subject of a number of analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $90.00 price target on shares of Microchip Technology in a research report on Wednesday, November 6th. TD Cowen lowered their target price on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Truist Financial lowered shares of Microchip Technology from a “buy” rating to a “hold” rating and reduced their price target for the stock from $89.00 to $80.00 in a research note on Monday, September 23rd. Evercore ISI restated an “outperform” rating and issued a $95.00 target price (down from $101.00) on shares of Microchip Technology in a research report on Wednesday, November 6th. Finally, StockNews.com upgraded Microchip Technology from a “sell” rating to a “hold” rating in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.05.

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.