Perennial Investment Advisors LLC Buys 317 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Perennial Investment Advisors LLC lifted its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 6.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,231 shares of the semiconductor company’s stock after purchasing an additional 317 shares during the period. Perennial Investment Advisors LLC’s holdings in Microchip Technology were worth $300,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of MCHP. Resona Asset Management Co. Ltd. acquired a new position in Microchip Technology during the 4th quarter valued at about $8,908,000. Riverwater Partners LLC bought a new position in Microchip Technology in the fourth quarter valued at approximately $313,000. DF Dent & Co. Inc. grew its holdings in Microchip Technology by 13.5% during the 4th quarter. DF Dent & Co. Inc. now owns 392,158 shares of the semiconductor company’s stock worth $22,490,000 after acquiring an additional 46,608 shares during the period. World Investment Advisors raised its position in shares of Microchip Technology by 2.7% during the 4th quarter. World Investment Advisors now owns 44,047 shares of the semiconductor company’s stock valued at $2,526,000 after acquiring an additional 1,165 shares during the last quarter. Finally, Nicolet Advisory Services LLC lifted its stake in shares of Microchip Technology by 31.3% in the 4th quarter. Nicolet Advisory Services LLC now owns 8,816 shares of the semiconductor company’s stock valued at $487,000 after purchasing an additional 2,100 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Price Performance

NASDAQ MCHP opened at $36.22 on Monday. The firm’s 50 day moving average is $54.29 and its 200-day moving average is $62.67. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $19.48 billion, a PE ratio of 64.68 and a beta of 1.51. Microchip Technology Incorporated has a 12-month low of $32.46 and a 12-month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. Equities research analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were issued a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 5.02%. The ex-dividend date was Monday, February 24th. Microchip Technology’s payout ratio is presently 325.00%.

Insider Buying and Selling

In other news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the transaction, the chief financial officer now directly owns 33,272 shares in the company, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MCHP shares. TD Cowen lifted their price objective on Microchip Technology from $50.00 to $60.00 and gave the stock a “hold” rating in a research note on Tuesday, March 4th. Evercore ISI boosted their target price on Microchip Technology from $65.00 to $71.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Mizuho increased their price target on shares of Microchip Technology from $58.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. B. Riley restated a “buy” rating and set a $75.00 price objective (down previously from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Finally, KeyCorp cut their target price on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $74.37.

About Microchip Technology

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.