Lmcg Investments LLC Has $6.48 Million Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Lmcg Investments LLC decreased its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 10.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 113,016 shares of the semiconductor company’s stock after selling 13,243 shares during the quarter. Lmcg Investments LLC’s holdings in Microchip Technology were worth $6,481,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Ballentine Partners LLC increased its position in Microchip Technology by 10.2% during the 4th quarter. Ballentine Partners LLC now owns 4,713 shares of the semiconductor company’s stock worth $270,000 after buying an additional 437 shares during the period. Ellsworth Advisors LLC raised its stake in Microchip Technology by 4.4% in the 4th quarter. Ellsworth Advisors LLC now owns 30,878 shares of the semiconductor company’s stock worth $1,771,000 after purchasing an additional 1,305 shares in the last quarter. Clarius Group LLC raised its stake in Microchip Technology by 11.5% in the 4th quarter. Clarius Group LLC now owns 4,298 shares of the semiconductor company’s stock worth $246,000 after purchasing an additional 442 shares in the last quarter. Premier Path Wealth Partners LLC boosted its holdings in Microchip Technology by 683.0% in the 4th quarter. Premier Path Wealth Partners LLC now owns 23,554 shares of the semiconductor company’s stock valued at $1,351,000 after purchasing an additional 20,546 shares during the period. Finally, Sanibel Captiva Trust Company Inc. grew its position in shares of Microchip Technology by 16.0% during the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 5,311 shares of the semiconductor company’s stock worth $305,000 after purchasing an additional 732 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Stifel Nicolaus decreased their price objective on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, December 3rd. Mizuho lowered their price target on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Needham & Company LLC restated a “buy” rating and set a $85.00 price objective on shares of Microchip Technology in a research report on Tuesday, December 3rd. Citigroup decreased their target price on Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Finally, Evercore ISI reissued an “outperform” rating and issued a $95.00 target price (down previously from $101.00) on shares of Microchip Technology in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

Microchip Technology Trading Up 3.2 %

NASDAQ:MCHP opened at $57.97 on Tuesday. Microchip Technology Incorporated has a 52 week low of $54.47 and a 52 week high of $100.57. 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’s fifty day moving average is $61.11 and its 200-day moving average is $73.57. The firm has a market cap of $31.13 billion, a P/E ratio of 40.54 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. The business’s revenue was down 48.4% compared to the same quarter last year. During the same period last year, the business posted $1.54 EPS. Equities analysts expect that Microchip Technology Incorporated will post 1.31 earnings per share for the current year.

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a $0.455 dividend. The ex-dividend date was Friday, November 22nd. This represents a $1.82 annualized dividend and a dividend yield of 3.14%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s payout ratio is currently 127.27%.

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.