Microchip Technology: Increasing Holdings and Dividend

Microchip Technology Incorporated, a semiconductor company, has a 52-week low of $54.33 and a 52-week high of $87.76. Recently, the company increased its quarterly dividend to $0.358 per share from $0.33 per share. Institutional investors, including Gateway Investment Advisers LLC and Householder Group Estate & Retirement Specialist LLC, have recently made changes to their positions in MCHP. Meanwhile, several brokerages have issued their opinions on MCHP, with a consensus rating of “Moderate Buy” and a consensus price target of $90.58. Microchip Technology, Inc. designs, develops, manufactures, and markets microcontrollers, development tools, analog, interface, mixed-signal, connectivity devices, and timing products.

Gateway Investment Advisers LLC Raises Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Microchip Technology logo

Gateway Investment Advisers LLC has increased its stake in Microchip Technology Incorporated (NASDAQ:MCHP – Get Rating) by 56.9% in the fourth quarter, according to its latest filing. The company’s stock is currently down by 3.5%.

Other Institutional Investors Changes in Positions in MCHP

Several other institutional investors have also made changes to their positions in MCHP. Householder Group Estate & Retirement Specialist LLC acquired a new position in the company during the third quarter for $25,000. MV Capital Management Inc. also increased its holdings in Microchip Technology by 157.1% during the third quarter, now owning 432 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 264 shares in the last quarter. Almanack Investment Partners LLC. acquired a new stake in Microchip Technology during the third quarter for about $29,000, while CoreCap Advisors LLC acquired a new stake in the company during the second quarter for about $34,000. Finally, FinTrust Capital Advisors LLC increased its holdings in Microchip Technology by 78.1% during the third quarter, now owning 570 shares of the company’s stock worth $34,000 after purchasing an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 89.85% of the company’s stock.

Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

Analysts’ Opinions on MCHP

Several brokerages have issued their opinions on MCHP. Morgan Stanley raised the stock’s target price from $80.00 to $99.00 and assigned it an “overweight” rating in a research note on Friday, February 3rd. Piper Sandler also raised the target price on Microchip Technology from $80.00 to $100.00 and assigned the stock an “overweight” rating in a research note on the same day. B. Riley raised the target price on Microchip Technology from $86.00 to $106.00 and gave the stock a “buy” rating in a research note on the same day. Needham & Company LLC reiterated a “buy” rating and issued a $110.00 target price on shares of Microchip Technology in a research note on Wednesday, March 8th. Finally, Truist Financial raised the target price on Microchip Technology from $85.00 to $94.00 and assigned the stock a “buy” rating in a research note on Friday, February 3rd. According to data from MarketBeat.com, Microchip Technology has a consensus rating of “Moderate Buy” and a consensus price target of $90.58.

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Microchip Technology Incorporated: Dividend Increase and Stock Information

Microchip Technology Incorporated (NASDAQ:MCHP) opened at $79.43 on Friday. It has a 52-week low of $54.33 and a 52-week high of $87.76. The company’s debt-to-equity ratio is 1.04, and it has a quick ratio of 1.04 and a current ratio of 1.76. The stock has a 50-day simple moving average of $80.85 and a 200-day simple moving average of $72.75. Microchip Technology has a market capitalization of $43.51 billion, a P/E ratio of 21.53, a price-to-earnings-growth ratio of 0.85, and a beta of 1.58.

Microchip Technology Increases Dividend

The semiconductor company also announced an increase in its quarterly dividend, which was paid on March 7th. Shareholders of record as of February 21st received a dividend of $0.358 per share, an increase from the previous quarterly dividend of $0.33 per share. The ex-dividend date was February 17th. This represents an annualized dividend of $1.43 per share and a yield of 1.80%. Microchip Technology’s dividend payout ratio (DPR) is 38.75%.

About Microchip Technology

Microchip Technology, Inc. designs, develops, manufactures, and markets microcontrollers, development tools and analog, interface, mixed-signal, connectivity devices, and timing products. It operates through two segments, Semiconductor Products and Technology Licensing.