Empower Advisory Group LLC Has $220,000 Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Empower Advisory Group LLC lifted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 10.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,836 shares of the semiconductor company’s stock after purchasing an additional 366 shares during the period. Empower Advisory Group LLC’s holdings in Microchip Technology were worth $220,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Prospera Private Wealth LLC purchased a new position in shares of Microchip Technology during the third quarter valued at $29,000. Peterson Financial Group Inc. purchased a new position in shares of Microchip Technology during the third quarter valued at $34,000. Truvestments Capital LLC purchased a new position in shares of Microchip Technology during the third quarter valued at $34,000. Financial Life Planners purchased a new position in shares of Microchip Technology during the fourth quarter valued at $32,000. Finally, Hobbs Group Advisors LLC grew its holdings 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 valued at $50,000 after buying an additional 500 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Price Performance

NASDAQ MCHP opened at $64.30 on Friday. Microchip Technology Incorporated has a twelve month low of $50.21 and a twelve month high of $100.57. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. The stock has a market capitalization of $34.58 billion, a PE ratio of 114.82 and a beta of 1.50. The stock has a 50-day simple moving average of $56.63 and a 200 day simple moving average of $68.19.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. Research analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Monday, February 24th will be issued a $0.455 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 2.83%. Microchip Technology’s dividend payout ratio (DPR) is 325.00%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MCHP. Jefferies Financial Group lowered their price target on Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Evercore ISI reiterated an “outperform” rating and set a $95.00 price target (down previously from $101.00) on shares of Microchip Technology in a report on Wednesday, November 6th. Piper Sandler restated an “overweight” rating and issued a $65.00 target price (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Stifel Nicolaus lowered their target price on Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, December 3rd. Finally, TD Cowen lowered their target price on Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Two investment 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $77.11.

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.