IVC Wealth Advisors LLC Buys 871 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

IVC Wealth Advisors LLC grew its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 23.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,660 shares of the semiconductor company’s stock after purchasing an additional 871 shares during the period. IVC Wealth Advisors LLC’s holdings in Microchip Technology were worth $267,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Prospera Private Wealth LLC purchased a new position in Microchip Technology during the 3rd quarter valued at approximately $29,000. Peterson Financial Group Inc. bought a new position in shares of Microchip Technology during the 3rd quarter valued at approximately $34,000. Truvestments Capital LLC purchased a new position in shares of Microchip Technology in the third quarter valued at $34,000. Wolff Wiese Magana LLC increased its position in Microchip Technology by 55.2% in the third quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 218 shares during the last quarter. Finally, Hobbs Group Advisors LLC raised its stake in Microchip Technology by 390.6% during the third quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 500 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Microchip Technology Price Performance

Shares of MCHP stock opened at $59.57 on Friday. Microchip Technology Incorporated has a one year low of $54.47 and a one year high of $100.57. The company has a market capitalization of $31.99 billion, a P/E ratio of 41.66 and a beta of 1.52. The company’s 50-day simple moving average is $60.53 and its two-hundred day simple moving average is $72.98. 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 (NASDAQ:MCHP) last posted its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The company’s revenue for the quarter was down 48.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.54 EPS. As a group, equities analysts anticipate that Microchip Technology Incorporated will post 1.31 EPS for the current year.

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were paid a dividend of $0.455 per share. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date was Friday, November 22nd. Microchip Technology’s dividend payout ratio is 127.27%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MCHP. Piper Sandler dropped their price objective on shares of Microchip Technology from $100.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. Bank of America lowered Microchip Technology from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $80.00 to $65.00 in a research report on Monday, December 16th. Needham & Company LLC restated a “buy” rating and set a $85.00 price objective on shares of Microchip Technology in a research report on Tuesday, December 3rd. Evercore ISI reissued an “outperform” rating and set a $95.00 target price (down previously from $101.00) on shares of Microchip Technology in a research report on Wednesday, November 6th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $90.00 price target on shares of Microchip Technology in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $85.00.

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.