3,513 Shares in Microchip Technology Incorporated (NASDAQ:MCHP) Bought by Portfolio Design Labs LLC

Portfolio Design Labs LLC acquired a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,513 shares of the semiconductor company’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Prospera Private Wealth LLC purchased a new position in shares of Microchip Technology during the 3rd quarter worth about $29,000. Peterson Financial Group Inc. bought a new stake in Microchip Technology in the third quarter worth about $34,000. Truvestments Capital LLC purchased a new position in shares of Microchip Technology during the third quarter valued at approximately $34,000. Financial Life Planners bought a new position in shares of Microchip Technology during the fourth quarter valued at approximately $32,000. Finally, Wolff Wiese Magana LLC raised its holdings in shares of Microchip Technology by 55.2% in the third quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock worth $49,000 after buying an additional 218 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

MCHP has been the topic of several research analyst reports. TD Cowen cut their price objective on Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. StockNews.com cut shares of Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday. Stifel Nicolaus decreased their price objective on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Piper Sandler restated an “overweight” rating and issued a $65.00 target price (down from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Finally, Morgan Stanley reduced their target price on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus target price of $77.11.

Microchip Technology Stock Performance

MCHP stock opened at $53.85 on Thursday. Microchip Technology Incorporated has a one year low of $50.21 and a one year high of $100.57. The firm has a market cap of $28.96 billion, a price-to-earnings ratio of 96.16 and a beta of 1.50. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88. The firm has a 50-day simple moving average of $57.09 and a two-hundred day simple moving average of $69.25.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.41%. On average, equities analysts forecast that Microchip Technology Incorporated will post 1.3 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be given a $0.455 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.38%. Microchip Technology’s payout ratio is 325.00%.

Microchip Technology 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.