Gilbert & Cook Inc. Increases Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Gilbert & Cook Inc. raised its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 15.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,343 shares of the semiconductor company’s stock after acquiring an additional 734 shares during the quarter. Gilbert & Cook Inc.’s holdings in Microchip Technology were worth $306,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Corundum Group Inc. grew its holdings in shares of Microchip Technology by 3.4% in the third quarter. Corundum Group Inc. now owns 4,315 shares of the semiconductor company’s stock valued at $346,000 after purchasing an additional 143 shares during the period. Financial Advocates Investment Management lifted its holdings in Microchip Technology by 1.5% during the 3rd 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 in the last quarter. Bruce G. Allen Investments LLC raised its stake in shares of Microchip Technology by 11.4% in the third quarter. Bruce G. Allen Investments LLC now owns 1,578 shares of the semiconductor company’s stock valued at $127,000 after acquiring an additional 162 shares in the last quarter. Metis Global Partners LLC boosted its stake 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 buying an additional 172 shares during the period. Finally, Americana Partners LLC grew its holdings 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 in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Price Performance

Microchip Technology stock opened at $55.16 on Friday. The stock’s fifty day moving average price is $59.77 and its two-hundred day moving average price is $71.72. Microchip Technology Incorporated has a one year low of $54.18 and a one year high of $100.57. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. The firm has a market cap of $29.62 billion, a PE ratio of 38.57 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the company posted $1.54 EPS. The business’s revenue was down 48.4% on a year-over-year basis. As a group, research analysts expect that Microchip Technology Incorporated will post 1.31 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a $0.455 dividend. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $1.82 annualized dividend and a dividend yield of 3.30%. Microchip Technology’s dividend payout ratio is presently 127.27%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MCHP. Jefferies Financial Group cut their target price on Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. 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. Susquehanna lowered their price objective on Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, November 6th. Bank of America lowered Microchip Technology from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $80.00 to $65.00 in a research note on Monday, December 16th. Finally, Mizuho reduced their price objective on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $84.00.

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.