Iams Wealth Management LLC lifted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP – Free Report) by 38.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 26,194 shares of the semiconductor company’s stock after buying an additional 7,338 shares during the quarter. Iams Wealth Management LLC’s holdings in Microchip Technology were worth $1,502,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the stock. Forsta AP Fonden lifted its position in shares of Microchip Technology by 3.9% during the fourth quarter. Forsta AP Fonden now owns 116,200 shares of the semiconductor company’s stock worth $6,664,000 after purchasing an additional 4,400 shares during the last quarter. Twelve Points Wealth Management LLC lifted its position in shares of Microchip Technology by 38.2% during the fourth quarter. Twelve Points Wealth Management LLC now owns 18,556 shares of the semiconductor company’s stock worth $1,064,000 after purchasing an additional 5,131 shares during the last quarter. Cascade Investment Advisors Inc. lifted its position in shares of Microchip Technology by 6.3% during the fourth quarter. Cascade Investment Advisors Inc. now owns 25,555 shares of the semiconductor company’s stock worth $1,466,000 after purchasing an additional 1,505 shares during the last quarter. Lebenthal Global Advisors LLC lifted its position in shares of Microchip Technology by 7.3% during the fourth quarter. Lebenthal Global Advisors LLC now owns 3,894 shares of the semiconductor company’s stock worth $223,000 after purchasing an additional 266 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC lifted its position in shares of Microchip Technology by 12.7% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 30,418 shares of the semiconductor company’s stock worth $1,744,000 after purchasing an additional 3,438 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.
Wall Street Analyst Weigh In
MCHP has been the topic of several research reports. Bank of America lowered shares of Microchip Technology from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $80.00 to $65.00 in a research note on Monday, December 16th. Rosenblatt Securities reiterated a “buy” rating and issued a $90.00 price objective on shares of Microchip Technology in a report on Wednesday, November 6th. B. Riley decreased their price objective on shares of Microchip Technology from $93.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 24th. TD Cowen decreased their price objective on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $95.00 price objective (down from $101.00) on shares of Microchip Technology in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $84.00.
Microchip Technology Stock Up 0.2 %
Microchip Technology stock opened at $56.38 on Wednesday. The firm has a fifty day moving average price of $59.95 and a two-hundred day moving average price of $71.83. Microchip Technology Incorporated has a fifty-two week low of $54.47 and a fifty-two week 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 $30.28 billion, a price-to-earnings ratio of 39.47 and a beta of 1.52.
Microchip Technology (NASDAQ:MCHP – Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the firm posted $1.54 EPS. The business’s revenue was down 48.4% compared to the same quarter last year. As a group, analysts forecast that Microchip Technology Incorporated will post 1.31 earnings per share for the current year.
Microchip Technology Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were paid a $0.455 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 3.23%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. 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.
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