Nisa Investment Advisors LLC Decreases Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Nisa Investment Advisors LLC lowered its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 6.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 197,255 shares of the semiconductor company’s stock after selling 12,816 shares during the period. Nisa Investment Advisors LLC’s holdings in Microchip Technology were worth $11,313,000 as of its most recent SEC filing.

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

Microchip Technology Stock Up 1.9 %

Microchip Technology stock opened at $59.57 on Friday. The company’s 50-day moving average price is $60.53 and its two-hundred day moving average price is $72.98. The stock has a market cap of $31.99 billion, a price-to-earnings ratio of 41.66 and a beta of 1.52. Microchip Technology Incorporated has a 52 week low of $54.47 and a 52 week high of $100.57. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.43 by $0.03. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. The firm’s quarterly revenue was down 48.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.54 earnings per share. On average, analysts expect that Microchip Technology Incorporated will post 1.31 EPS for the current fiscal year.

Microchip Technology Increases Dividend

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

Analyst Ratings Changes

MCHP has been the subject of several research analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $90.00 target price on shares of Microchip Technology in a research report on Wednesday, November 6th. TD Cowen lowered their price objective on Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. StockNews.com raised Microchip Technology from a “sell” rating to a “hold” rating in a report on Friday, December 13th. Evercore ISI reiterated an “outperform” rating and issued a $95.00 price target (down from $101.00) on shares of Microchip Technology in a report on Wednesday, November 6th. Finally, Piper Sandler reduced their price objective on Microchip Technology from $100.00 to $85.00 and set an “overweight” rating on the stock in a research note 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $85.00.

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.