IFP Advisors Inc Has $323,000 Position in Microchip Technology Incorporated (NASDAQ:MCHP)

IFP Advisors Inc boosted its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 6.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,579 shares of the semiconductor company’s stock after purchasing an additional 340 shares during the quarter. IFP Advisors Inc’s holdings in Microchip Technology were worth $323,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MCHP. Financial Advocates Investment Management grew its position in shares of Microchip Technology by 1.5% in the 3rd quarter. Financial Advocates Investment Management now owns 10,795 shares of the semiconductor company’s stock valued at $867,000 after buying an additional 158 shares during the last quarter. Hills Bank & Trust Co grew its position in shares of Microchip Technology by 6.5% in the 3rd quarter. Hills Bank & Trust Co now owns 6,789 shares of the semiconductor company’s stock valued at $545,000 after buying an additional 413 shares during the last quarter. Gladstone Institutional Advisory LLC grew its position in shares of Microchip Technology by 11.7% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 14,539 shares of the semiconductor company’s stock valued at $1,167,000 after buying an additional 1,528 shares during the last quarter. Americana Partners LLC grew its position in shares of Microchip Technology by 5.5% in the 3rd quarter. Americana Partners LLC now owns 3,441 shares of the semiconductor company’s stock valued at $276,000 after buying an additional 179 shares during the last quarter. Finally, Ceredex Value Advisors LLC grew its position in shares of Microchip Technology by 8.8% in the 3rd quarter. Ceredex Value Advisors LLC now owns 540,400 shares of the semiconductor company’s stock valued at $43,389,000 after buying an additional 43,900 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Activity

In other news, CFO James Eric Bjornholt sold 3,724 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the transaction, the chief financial officer now owns 33,272 shares in the company, valued at $2,025,599.36. This trade represents a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Microchip Technology Trading Up 3.0 %

Shares of Microchip Technology stock opened at $58.86 on Friday. 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 50 day moving average price of $56.94 and a two-hundred day moving average price of $67.44. The stock has a market capitalization of $31.66 billion, a PE ratio of 105.11 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 EPS 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%. As a group, equities analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Monday, February 24th will be paid 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 yield of 3.09%. Microchip Technology’s dividend payout ratio (DPR) is presently 325.00%.

Wall Street Analyst Weigh In

MCHP has been the topic of a number of analyst reports. Needham & Company LLC reduced their price target on Microchip Technology from $85.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Bank of America lowered Microchip Technology from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $80.00 to $65.00 in a research report on Monday, December 16th. Rosenblatt Securities reiterated a “buy” rating and issued a $90.00 price target on shares of Microchip Technology in a research report on Thursday, February 6th. Raymond James reiterated a “strong-buy” rating and issued a $60.00 price target (down previously from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. 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 note on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $77.11.

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.