WASHINGTON TRUST Co Grows Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

WASHINGTON TRUST Co lifted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,094 shares of the semiconductor company’s stock after purchasing an additional 409 shares during the quarter. WASHINGTON TRUST Co’s holdings in Microchip Technology were worth $694,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. V Square Quantitative Management LLC raised its position in Microchip Technology by 30.9% in the fourth quarter. V Square Quantitative Management LLC now owns 5,145 shares of the semiconductor company’s stock worth $295,000 after acquiring an additional 1,215 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in Microchip Technology by 1.4% in the fourth quarter. Vontobel Holding Ltd. now owns 68,510 shares of the semiconductor company’s stock valued at $3,929,000 after purchasing an additional 978 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in Microchip Technology by 2.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 210,669 shares of the semiconductor company’s stock valued at $12,290,000 after purchasing an additional 4,309 shares during the last quarter. Howard Bailey Securities LLC grew its holdings in Microchip Technology by 31.4% in the fourth quarter. Howard Bailey Securities LLC now owns 4,816 shares of the semiconductor company’s stock valued at $276,000 after purchasing an additional 1,152 shares during the last quarter. Finally, PrairieView Partners LLC boosted its stake in shares of Microchip Technology by 70.4% during the fourth quarter. PrairieView Partners LLC now owns 1,193 shares of the semiconductor company’s stock valued at $68,000 after acquiring an additional 493 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Evercore ISI reaffirmed an “outperform” rating and set a $95.00 price objective (down previously from $101.00) on shares of Microchip Technology in a research note on Wednesday, November 6th. Mizuho decreased their price objective on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. The Goldman Sachs Group decreased their price objective on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Rosenblatt Securities reaffirmed a “buy” rating and set a $90.00 price objective on shares of Microchip Technology in a research note on Thursday, February 6th. Finally, Bank of America lowered Microchip Technology from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $80.00 to $65.00 in a research note on Monday, December 16th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $77.11.

Microchip Technology Stock Performance

Microchip Technology stock opened at $55.76 on Friday. The stock’s 50-day moving average is $56.79 and its 200-day moving average is $68.81. The company has a market cap of $29.94 billion, a price-to-earnings ratio of 99.57 and a beta of 1.50. 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 Incorporated has a 12 month low of $50.21 and a 12 month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.41% and a net margin of 6.49%. Equities analysts anticipate that Microchip Technology Incorporated will post 1.3 earnings per share for the current year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 3.26%. The ex-dividend date is Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is presently 325.00%.

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.