Mount Yale Investment Advisors LLC Grows Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Mount Yale Investment Advisors LLC grew its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 12.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,418 shares of the semiconductor company’s stock after buying an additional 3,438 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Microchip Technology were worth $1,744,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MCHP. Pacer Advisors Inc. boosted its position in Microchip Technology by 10.0% during the fourth quarter. Pacer Advisors Inc. now owns 100,434 shares of the semiconductor company’s stock worth $5,760,000 after purchasing an additional 9,152 shares during the period. Buttonwood Financial Advisors Inc. boosted its holdings in Microchip Technology by 48.7% in the 4th quarter. Buttonwood Financial Advisors Inc. now owns 89,386 shares of the semiconductor company’s stock worth $5,126,000 after buying an additional 29,282 shares during the period. KBC Group NV grew its stake in Microchip Technology by 5.7% in the 4th quarter. KBC Group NV now owns 96,413 shares of the semiconductor company’s stock valued at $5,529,000 after buying an additional 5,178 shares in the last quarter. Blue Trust Inc. raised its holdings in Microchip Technology by 17.6% during the 4th quarter. Blue Trust Inc. now owns 12,383 shares of the semiconductor company’s stock valued at $710,000 after acquiring an additional 1,850 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of Microchip Technology by 5.8% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 43,780 shares of the semiconductor company’s stock worth $2,511,000 after acquiring an additional 2,384 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Down 5.3 %

Shares of NASDAQ MCHP opened at $56.39 on Monday. The stock has a market capitalization of $30.28 billion, a P/E ratio of 39.43 and a beta of 1.52. Microchip Technology Incorporated has a one year low of $54.47 and a one year high of $100.57. The firm’s 50 day simple moving average is $60.28 and its two-hundred day simple moving average is $72.33. 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 issued its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, topping 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 company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the company earned $1.54 EPS. The firm’s revenue was down 48.4% compared to the same quarter last year. As a group, analysts expect that Microchip Technology Incorporated will post 1.31 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently declared 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 3.23%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, November 22nd. Microchip Technology’s dividend payout ratio (DPR) is presently 127.27%.

Analysts Set New Price Targets

MCHP has been the topic of a number of analyst reports. TD Cowen decreased their price objective on Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Evercore ISI reiterated an “outperform” rating and set a $95.00 price target (down from $101.00) on shares of Microchip Technology in a research report on Wednesday, November 6th. Bank of America lowered shares of Microchip Technology from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $80.00 to $65.00 in a research report on Monday, December 16th. Mizuho decreased their target price on shares of Microchip Technology from $85.00 to $72.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $85.00 price target on shares of Microchip Technology in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.00.

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.