Microchip Technology Incorporated (NASDAQ:MCHP) Shares Acquired by Allworth Financial LP

Allworth Financial LP lifted its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 24.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,477 shares of the semiconductor company’s stock after buying an additional 1,275 shares during the period. Allworth Financial LP’s holdings in Microchip Technology were worth $379,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Prospera Private Wealth LLC acquired a new position in shares of Microchip Technology during the third quarter worth approximately $29,000. Financial Life Planners acquired a new stake in Microchip Technology in the fourth quarter worth approximately $32,000. Peterson Financial Group Inc. acquired a new stake in Microchip Technology in the third quarter worth approximately $34,000. Truvestments Capital LLC acquired a new stake in Microchip Technology in the third quarter worth approximately $34,000. Finally, Hobbs Group Advisors LLC lifted its position in Microchip Technology by 390.6% in 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 period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Price Performance

MCHP opened at $61.07 on Friday. The stock has a fifty day moving average of $56.68 and a 200-day moving average of $68.16. The firm has a market capitalization of $32.84 billion, a P/E ratio of 109.05 and a beta of 1.50. Microchip Technology Incorporated has a 12-month low of $50.21 and a 12-month high of $100.57. 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 (NASDAQ:MCHP) last released its earnings results 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%. Equities analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be issued a dividend of $0.455 per share. The ex-dividend date is Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 2.98%. Microchip Technology’s dividend payout ratio is 325.00%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MCHP shares. Rosenblatt Securities restated a “buy” rating and issued a $90.00 target price on shares of Microchip Technology in a research report on Thursday, February 6th. Citigroup cut their target price on Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. StockNews.com downgraded Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Raymond James restated a “strong-buy” rating and issued a $60.00 target price (down from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. Finally, Mizuho cut their price objective on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Microchip Technology currently 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.