Hilltop Holdings Inc. Has $5.16 Million Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Hilltop Holdings Inc. lifted its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 1,872.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 64,273 shares of the semiconductor company’s stock after acquiring an additional 61,014 shares during the period. Hilltop Holdings Inc.’s holdings in Microchip Technology were worth $5,160,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Cetera Advisors LLC boosted its position in Microchip Technology by 294.0% in the first quarter. Cetera Advisors LLC now owns 22,416 shares of the semiconductor company’s stock valued at $2,011,000 after buying an additional 16,726 shares in the last quarter. Mather Group LLC. boosted its holdings in shares of Microchip Technology by 4.5% during the 2nd quarter. Mather Group LLC. now owns 8,108 shares of the semiconductor company’s stock valued at $727,000 after acquiring an additional 352 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new stake in Microchip Technology during the 2nd quarter worth $243,000. Park Avenue Securities LLC increased its holdings in Microchip Technology by 1.8% in the 2nd quarter. Park Avenue Securities LLC now owns 59,210 shares of the semiconductor company’s stock worth $5,418,000 after purchasing an additional 1,070 shares in the last quarter. Finally, CWM LLC raised its position in Microchip Technology by 37.2% in the second quarter. CWM LLC now owns 32,552 shares of the semiconductor company’s stock valued at $2,979,000 after purchasing an additional 8,828 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Trading Up 3.1 %

Shares of MCHP stock opened at $70.31 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88. Microchip Technology Incorporated has a fifty-two week low of $62.63 and a fifty-two week high of $100.57. The stock has a 50 day simple moving average of $73.57 and a two-hundred day simple moving average of $82.08. The company has a market cap of $37.76 billion, a P/E ratio of 49.17 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The business’s revenue was down 48.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.54 earnings per share. Research analysts forecast that Microchip Technology Incorporated will post 1.38 earnings per share for the current year.

Microchip Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a $0.455 dividend. The ex-dividend date is Friday, November 22nd. This represents a $1.82 annualized dividend and a yield of 2.59%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio is presently 127.27%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Piper Sandler reduced their price target on Microchip Technology from $100.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. StockNews.com lowered shares of Microchip Technology from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. KeyCorp decreased their price target on shares of Microchip Technology from $100.00 to $95.00 and set an “overweight” rating for the company in a research 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. Finally, Citigroup decreased their price objective on Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.00.

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.