Twelve Points Wealth Management LLC Purchases 5,131 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Twelve Points Wealth Management LLC increased its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 38.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 18,556 shares of the semiconductor company’s stock after purchasing an additional 5,131 shares during the period. Twelve Points Wealth Management LLC’s holdings in Microchip Technology were worth $1,064,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MCHP. Corundum Group Inc. grew its position in shares of Microchip Technology by 3.4% in the 3rd quarter. Corundum Group Inc. now owns 4,315 shares of the semiconductor company’s stock worth $346,000 after buying an additional 143 shares during the period. Financial Advocates Investment Management grew its holdings in Microchip Technology by 1.5% in the third quarter. Financial Advocates Investment Management now owns 10,795 shares of the semiconductor company’s stock worth $867,000 after purchasing an additional 158 shares during the period. Bruce G. Allen Investments LLC increased its stake in shares of Microchip Technology by 11.4% during the third quarter. Bruce G. Allen Investments LLC now owns 1,578 shares of the semiconductor company’s stock valued at $127,000 after purchasing an additional 162 shares in the last quarter. Metis Global Partners LLC increased its stake in shares of Microchip Technology by 1.0% during the third quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company’s stock valued at $1,378,000 after purchasing an additional 172 shares in the last quarter. Finally, Americana Partners LLC lifted its holdings in shares of Microchip Technology by 5.5% during the third quarter. Americana Partners LLC now owns 3,441 shares of the semiconductor company’s stock valued at $276,000 after purchasing an additional 179 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on MCHP. StockNews.com raised Microchip Technology from a “sell” rating to a “hold” rating in a research report on Friday, December 13th. Jefferies Financial Group reduced their price target on Microchip Technology from $100.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Bank of America cut shares of Microchip Technology from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $80.00 to $65.00 in a research note on Monday, December 16th. Susquehanna reduced their price objective on shares of Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a research note on Wednesday, November 6th. Finally, Mizuho dropped their target price on shares of Microchip Technology from $85.00 to $72.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and an average target price of $84.00.

Microchip Technology Price Performance

Shares of NASDAQ:MCHP opened at $56.28 on Wednesday. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $30.22 billion, a PE ratio of 39.36 and a beta of 1.52. The firm’s 50 day moving average price is $60.12 and its 200-day moving average price is $72.08. Microchip Technology Incorporated has a twelve month low of $54.47 and a twelve month high of $100.57.

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 the consensus estimate of $0.43 by $0.03. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The company’s revenue was down 48.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.54 EPS. Equities research analysts expect that Microchip Technology Incorporated will post 1.31 EPS for the current year.

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were given a $0.455 dividend. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date was Friday, November 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 3.23%. Microchip Technology’s dividend payout ratio is presently 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.