Microchip Technology Incorporated (NASDAQ:MCHP) Shares Acquired by Inspire Investing LLC

Inspire Investing LLC raised its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,479 shares of the semiconductor company’s stock after acquiring an additional 821 shares during the quarter. Inspire Investing LLC’s holdings in Microchip Technology were worth $3,010,000 as of its most recent SEC filing.

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

Microchip Technology Stock Down 0.1 %

MCHP opened at $58.48 on Thursday. The firm has a market cap of $31.40 billion, a P/E ratio of 40.90 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 quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The business’s fifty day simple moving average is $60.53 and its 200 day simple moving average is $72.98.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. Microchip Technology’s revenue was down 48.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.54 EPS. As a group, equities research analysts anticipate that Microchip Technology Incorporated will post 1.31 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a dividend of $0.455 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.11%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio is currently 127.27%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Susquehanna reduced their target price on shares of Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, November 6th. Stifel Nicolaus dropped their target price on Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. Evercore ISI reaffirmed an “outperform” rating and set a $95.00 price target (down from $101.00) on shares of Microchip Technology in a report on Wednesday, November 6th. The Goldman Sachs Group cut their price target on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Finally, Mizuho dropped their price objective on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. One 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 MarketBeat.com, Microchip Technology has an average rating of “Moderate Buy” and an average price target 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.