Private Advisor Group LLC Buys 373 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Private Advisor Group LLC grew its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 0.6% during the 4th quarter, Holdings Channel reports. The firm owned 60,169 shares of the semiconductor company’s stock after purchasing an additional 373 shares during the period. Private Advisor Group LLC’s holdings in Microchip Technology were worth $3,451,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Financial Advocates Investment Management boosted its holdings in Microchip Technology by 1.5% during the third quarter. Financial Advocates Investment Management now owns 10,795 shares of the semiconductor company’s stock worth $867,000 after buying an additional 158 shares during the last quarter. Metis Global Partners LLC raised its position in shares of Microchip Technology by 1.0% in the 3rd quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company’s stock valued at $1,378,000 after acquiring an additional 172 shares during the period. Americana Partners LLC boosted its stake in Microchip Technology by 5.5% during the 3rd quarter. Americana Partners LLC now owns 3,441 shares of the semiconductor company’s stock worth $276,000 after acquiring an additional 179 shares during the last quarter. Plato Investment Management Ltd grew its holdings in Microchip Technology by 5.8% during the third quarter. Plato Investment Management Ltd now owns 3,499 shares of the semiconductor company’s stock valued at $281,000 after purchasing an additional 191 shares during the period. Finally, Summit Global Investments increased its stake in Microchip Technology by 2.5% in the third quarter. Summit Global Investments now owns 8,463 shares of the semiconductor company’s stock valued at $679,000 after purchasing an additional 207 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. TD Cowen decreased their price target on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Mizuho lowered their price target on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating for the company in a report on Friday, January 10th. The Goldman Sachs Group dropped their price target on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Raymond James reissued a “strong-buy” rating and issued a $60.00 price target (down previously from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. Finally, Needham & Company LLC decreased their price objective 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 assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $77.11.

Microchip Technology Price Performance

Microchip Technology stock opened at $61.07 on Monday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. Microchip Technology Incorporated has a 52 week low of $50.21 and a 52 week high of $100.57. The stock has a market capitalization of $32.84 billion, a P/E ratio of 109.05 and a beta of 1.50. The stock has a fifty day moving average of $56.70 and a 200-day moving average of $68.00.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. On average, sell-side analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be given a $0.455 dividend. 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 2.98%. Microchip Technology’s dividend payout ratio (DPR) is currently 325.00%.

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.