Microchip Technology Incorporated is a provider of semiconductor products that operate through the Semiconductor Products and Technology Licensing segments. Institutional investors have increased their stakes in the company. Morgan Stanley, Needham & Company LLC, B. Riley, Raymond James, and Mizuho are among the research firms that have given the stock a buy rating. Meanwhile, investors interested in receiving daily summaries of the latest news and analysts’ ratings for Microchip Technology and related companies can sign up for MarketBeat.com’s free daily email newsletter.
Fulton Bank N.A. has recently increased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP – Get Rating) by 11.5% during the fourth quarter, according to a recent Form 13F filing with the Securities and Exchange Commission. Other institutional investors have also followed suit, increasing or decreasing their stakes in the company. For instance, Householder Group Estate & Retirement Specialist LLC purchased a new position in Microchip Technology during the third quarter worth approximately $25,000. MV Capital Management Inc. also raised its position in Microchip Technology by 157.1% in the same quarter. Meanwhile, Almanack Investment Partners LLC bought a new position in Microchip Technology during the third quarter worth approximately $29,000, and CoreCap Advisors LLC bought a new position in the company in the second quarter worth around $34,000. Finally, FinTrust Capital Advisors LLC raised its position in Microchip Technology by 78.1% in the third quarter, and now owns 570 shares of the company’s stock worth $34,000 after acquiring an additional 250 shares during the period. Presently, 89.85% of the stock is owned by institutional investors.
As of Friday, MCHP stock opened at $80.71. The company has a 52-week low of $54.33 and a 52-week high of $87.76, and a market capitalization of $44.21 billion. Microchip Technology has a quick ratio of 1.04, a current ratio of 1.76, and a debt-to-equity ratio of 1.04. The company has a P/E ratio of 21.87, a price-to-earnings-growth ratio of 0.83, and a beta of 1.58. In the last fifty days, the company had a simple moving average of $80.21 and a two-hundred day simple moving average of $72.23.
Additionally, Microchip Technology recently disclosed a quarterly dividend, which was paid on Tuesday, March 7th. The company’s shareholders of record on Tuesday, February 21st were given a dividend of $0.358 per share. The ex-dividend date was Friday, February 17th. This represents a $1.43 annualized dividend and a yield of 1.77%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.33. Microchip Technology’s dividend payout ratio (DPR) is 38.75%. Analysts have set new price targets for the company.
Microchip Technology has received a “Moderate Buy” rating from MarketBeat with an average target price of $90.58. Five analysts have given the stock a hold rating, twelve have issued a buy rating, and one has assigned a strong buy rating to the stock. Morgan Stanley, Needham & Company LLC, B. Riley, Raymond James, and Mizuho are among the research firms that have weighed in on Microchip Technology. Needham & Company LLC, for instance, reissued a “buy” rating and issued a $110.00 price objective on shares of Microchip Technology in a research note on Wednesday, March 8th.
Microchip Technology provides semiconductor products, and it operates through the Semiconductor Products and Technology Licensing segments. The company is involved in designing, developing, manufacturing, and marketing microcontrollers, development tools, and analog, interface, mixed-signal, connectivity devices, and timing products.
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