MeadowBrook Investment Advisors LLC Boosts Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

MeadowBrook Investment Advisors LLC lifted its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 15.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,235 shares of the semiconductor company’s stock after purchasing an additional 1,493 shares during the period. MeadowBrook Investment Advisors LLC’s holdings in Microchip Technology were worth $644,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Prospera Private Wealth LLC acquired a new position in shares of Microchip Technology during the third quarter worth about $29,000. Peterson Financial Group Inc. purchased a new position in Microchip Technology in the third quarter worth approximately $34,000. Truvestments Capital LLC acquired a new position in Microchip Technology during the 3rd quarter worth approximately $34,000. Financial Life Planners purchased a new stake in shares of Microchip Technology in the 4th quarter valued at approximately $32,000. Finally, Wolff Wiese Magana LLC raised its holdings in shares of Microchip Technology by 55.2% in the 3rd quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Trading Up 1.0 %

Microchip Technology stock opened at $52.58 on Wednesday. Microchip Technology Incorporated has a 52 week low of $50.21 and a 52 week high of $100.57. The stock has a market cap of $28.24 billion, a PE ratio of 93.89 and a beta of 1.50. The stock has a 50-day moving average price of $57.35 and a 200 day moving average price of $69.49. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71.

Microchip Technology (NASDAQ:MCHP) last released its earnings results 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%. Equities research analysts predict that Microchip Technology Incorporated will post 1.3 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders 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 yield of 3.46%. Microchip Technology’s dividend payout ratio (DPR) is 325.00%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Citigroup cut their price target on Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Raymond James reissued a “strong-buy” rating and set a $60.00 target price (down previously from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. Bank of America cut shares of Microchip Technology from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $80.00 to $65.00 in a report on Monday, December 16th. Jefferies Financial Group lowered their target price on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, TD Cowen decreased their target price on Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. 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. Based on data from MarketBeat.com, the company currently has a consensus 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.