Microchip Technology Incorporated (NASDAQ:MCHP) Stock Position Increased by Transamerica Financial Advisors Inc.

Transamerica Financial Advisors Inc. boosted its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 41.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,411 shares of the semiconductor company’s stock after buying an additional 711 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Microchip Technology were worth $194,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of MCHP. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Microchip Technology by 2,390.5% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,291,290 shares of the semiconductor company’s stock valued at $209,653,000 after purchasing an additional 2,199,290 shares during the last quarter. Van ECK Associates Corp lifted its position in Microchip Technology by 25.1% in the 3rd quarter. Van ECK Associates Corp now owns 7,961,200 shares of the semiconductor company’s stock valued at $599,239,000 after purchasing an additional 1,597,263 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Microchip Technology by 78.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,189,390 shares of the semiconductor company’s stock valued at $200,329,000 after purchasing an additional 961,801 shares during the last quarter. Boston Partners lifted its position in Microchip Technology by 10.7% in the 1st quarter. Boston Partners now owns 7,591,471 shares of the semiconductor company’s stock valued at $681,838,000 after purchasing an additional 736,818 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in Microchip Technology by 234.1% in the 2nd quarter. National Bank of Canada FI now owns 899,561 shares of the semiconductor company’s stock valued at $82,391,000 after purchasing an additional 630,285 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on MCHP shares. Jefferies Financial Group lowered their target price on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Susquehanna lowered their target price on shares of Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, November 6th. JPMorgan Chase & Co. lowered their target price on shares of Microchip Technology from $110.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Mizuho set a $95.00 target price on shares of Microchip Technology in a research note on Friday, October 18th. Finally, Piper Sandler lowered their target price on shares of Microchip Technology from $100.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Microchip Technology has a consensus rating of “Moderate Buy” and a consensus target price of $92.00.

Microchip Technology Stock Performance

Microchip Technology stock opened at $68.41 on Wednesday. The firm’s 50 day simple moving average is $74.27 and its 200-day simple moving average is $82.80. The company has a market cap of $36.74 billion, a P/E ratio of 47.84 and a beta of 1.53. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. Microchip Technology Incorporated has a fifty-two week low of $62.63 and a fifty-two week high of $100.57.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. The business had revenue of $1.16 billion for 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 firm’s quarterly revenue was down 48.4% compared to the same quarter last year. During the same period last year, the firm posted $1.54 earnings per share. As a group, equities research analysts predict that Microchip Technology Incorporated will post 1.38 EPS for the current year.

Microchip Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a $0.455 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Friday, November 22nd. Microchip Technology’s dividend payout ratio (DPR) is 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.