Howard Bailey Securities LLC Buys 1,152 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Howard Bailey Securities LLC grew its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 31.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,816 shares of the semiconductor company’s stock after purchasing an additional 1,152 shares during the quarter. Howard Bailey Securities LLC’s holdings in Microchip Technology were worth $276,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Van ECK Associates Corp grew its holdings in Microchip Technology by 39.3% in the 4th quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company’s stock valued at $636,184,000 after buying an additional 3,131,807 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Microchip Technology by 9,901.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock valued at $163,886,000 after acquiring an additional 2,829,082 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Microchip Technology by 30.2% in the third quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company’s stock valued at $264,430,000 after acquiring an additional 776,408 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Microchip Technology by 20.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,751,987 shares of the semiconductor company’s stock worth $220,957,000 after acquiring an additional 460,697 shares during the period. Finally, DF Dent & Co. Inc. acquired a new stake in Microchip Technology in the 3rd quarter worth about $27,744,000. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MCHP shares. TD Cowen decreased their target price on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. Morgan Stanley reduced their price target on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Raymond James restated a “strong-buy” rating and set a $60.00 price objective (down from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. Evercore ISI reaffirmed an “outperform” rating and issued a $95.00 target price (down previously from $101.00) on shares of Microchip Technology in a report on Wednesday, November 6th. Finally, Needham & Company LLC lowered their price target on Microchip Technology from $85.00 to $60.00 and set a “buy” rating for the company in a report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.11.

Microchip Technology Trading Up 2.4 %

MCHP opened at $53.85 on Thursday. The company’s 50 day moving average price is $57.09 and its two-hundred day moving average price is $69.25. The firm has a market capitalization of $28.92 billion, a price-to-earnings ratio of 96.16 and a beta of 1.50. Microchip Technology Incorporated has a fifty-two week low of $50.21 and a fifty-two week high of $100.57. 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 quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.41% and a net margin of 6.49%. As a group, research analysts predict that Microchip Technology Incorporated will post 1.3 earnings per share for the current year.

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be given a dividend of $0.455 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.38%. Microchip Technology’s dividend payout ratio (DPR) is 325.00%.

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.