Microchip Technology Incorporated (NASDAQ:MCHP) Stock Holdings Increased by Cascade Investment Advisors Inc.

Cascade Investment Advisors Inc. boosted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 6.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,555 shares of the semiconductor company’s stock after purchasing an additional 1,505 shares during the period. Cascade Investment Advisors Inc.’s holdings in Microchip Technology were worth $1,466,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new position in shares of Microchip Technology during the 3rd quarter valued at $29,000. Peterson Financial Group Inc. bought a new position in Microchip Technology during the third quarter valued at about $34,000. Truvestments Capital LLC acquired a new stake in shares of Microchip Technology in the third quarter worth about $34,000. Wolff Wiese Magana LLC boosted its stake in shares of Microchip Technology by 55.2% during the 3rd quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock worth $49,000 after acquiring an additional 218 shares in the last quarter. Finally, Hobbs Group Advisors LLC boosted its stake in shares of Microchip Technology by 390.6% during the 3rd quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

MCHP has been the subject of several analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $90.00 target price on shares of Microchip Technology in a report on Wednesday, November 6th. The Goldman Sachs Group lowered their target price on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. KeyCorp decreased their price target on shares of Microchip Technology from $90.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Bank of America downgraded Microchip Technology from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $80.00 to $65.00 in a research note on Monday, December 16th. Finally, B. Riley dropped their price target on Microchip Technology from $93.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Microchip Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.00.

Microchip Technology Price Performance

Shares of MCHP stock opened at $57.12 on Tuesday. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. Microchip Technology Incorporated has a 12 month low of $54.47 and a 12 month high of $100.57. The firm has a market cap of $30.68 billion, a price-to-earnings ratio of 39.95 and a beta of 1.52. The stock has a 50-day moving average price of $60.28 and a 200 day moving average price of $72.33.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share 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 business had revenue of $1.16 billion during 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. Microchip Technology’s revenue for the quarter was down 48.4% compared to the same quarter last year. Research analysts expect 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 issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Friday, November 22nd. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio is currently 127.27%.

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.