Venturi Wealth Management LLC Has $658,000 Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Venturi Wealth Management LLC boosted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 5.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,190 shares of the semiconductor company’s stock after acquiring an additional 442 shares during the quarter. Venturi Wealth Management LLC’s holdings in Microchip Technology were worth $658,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCHP. Pinnacle Associates Ltd. boosted its stake in Microchip Technology by 50.0% in the third quarter. Pinnacle Associates Ltd. now owns 105,694 shares of the semiconductor company’s stock worth $8,486,000 after purchasing an additional 35,213 shares in the last quarter. Swedbank AB bought a new stake in shares of Microchip Technology during the first quarter worth $1,079,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Microchip Technology by 12.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 870,072 shares of the semiconductor company’s stock valued at $69,355,000 after acquiring an additional 93,464 shares during the period. SageView Advisory Group LLC lifted its position in Microchip Technology by 507.5% during the 1st quarter. SageView Advisory Group LLC now owns 17,307 shares of the semiconductor company’s stock valued at $1,553,000 after purchasing an additional 14,458 shares during the period. Finally, Zurich Insurance Group Ltd FI bought a new position in shares of Microchip Technology in the 2nd quarter valued at about $42,538,000. Institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling at Microchip Technology

In related news, CFO James Eric Bjornholt sold 2,154 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $81.50, for a total value of $175,551.00. Following the completion of the transaction, the chief financial officer now directly owns 33,257 shares in the company, valued at approximately $2,710,445.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Bank of America cut Microchip Technology from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $110.00 to $90.00 in a report on Friday, August 2nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $90.00 price objective on shares of Microchip Technology in a research note on Wednesday, November 6th. Mizuho set a $95.00 price target on shares of Microchip Technology in a research note on Friday, October 18th. B. Riley dropped their target price on Microchip Technology from $110.00 to $103.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, Susquehanna cut their price objective on shares of Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $92.00.

Microchip Technology Trading Down 4.1 %

NASDAQ:MCHP opened at $69.88 on Tuesday. The firm has a market cap of $37.53 billion, a price-to-earnings ratio of 48.87 and a beta of 1.53. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.08 and a current ratio of 0.88. The firm has a 50-day moving average price of $76.73 and a two-hundred day moving average price of $84.93. Microchip Technology Incorporated has a 52 week low of $69.00 and a 52 week high of $100.57.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The business 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 period in the previous year, the business posted $1.54 EPS. On average, equities analysts expect that Microchip Technology Incorporated will post 1.69 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 2.60%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, November 22nd. Microchip Technology’s payout ratio is presently 127.27%.

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.