Microchip Technology Incorporated (NASDAQ:MCHP) Shares Acquired by PrairieView Partners LLC

PrairieView Partners LLC lifted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 70.4% during the 4th quarter, HoldingsChannel reports. The firm owned 1,193 shares of the semiconductor company’s stock after purchasing an additional 493 shares during the quarter. PrairieView Partners LLC’s holdings in Microchip Technology were worth $68,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MCHP. CX Institutional boosted its holdings in shares of Microchip Technology by 6.4% during the 3rd quarter. CX Institutional now owns 12,902 shares of the semiconductor company’s stock worth $1,036,000 after purchasing an additional 776 shares during the last quarter. Creative Planning boosted its holdings in shares of Microchip Technology by 0.6% during the 3rd quarter. Creative Planning now owns 116,549 shares of the semiconductor company’s stock worth $9,358,000 after purchasing an additional 719 shares during the last quarter. Swedbank AB boosted its holdings in shares of Microchip Technology by 62.3% during the 3rd quarter. Swedbank AB now owns 34,885 shares of the semiconductor company’s stock worth $2,801,000 after purchasing an additional 13,392 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of Microchip Technology by 24.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 67,532 shares of the semiconductor company’s stock worth $5,422,000 after purchasing an additional 13,245 shares during the last quarter. Finally, Indiana Trust & Investment Management Co raised its position in shares of Microchip Technology by 25.0% during the 3rd quarter. Indiana Trust & Investment Management Co now owns 1,249 shares of the semiconductor company’s stock valued at $100,000 after buying an additional 250 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MCHP. Bank of America lowered shares of Microchip Technology from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $80.00 to $65.00 in a research report on Monday, December 16th. Susquehanna reduced their price target on shares of Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a research report on Wednesday, November 6th. Jefferies Financial Group reduced their price target on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Raymond James reaffirmed a “strong-buy” rating and set a $60.00 price target (down previously from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. Finally, Morgan Stanley decreased their price target on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $77.11.

Microchip Technology Stock Performance

NASDAQ:MCHP opened at $53.85 on Thursday. The firm has a market capitalization of $28.92 billion, a PE ratio of 96.16 and a beta of 1.50. The business’s fifty day moving average price is $57.09 and its 200 day moving average price is $69.25. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. Microchip Technology Incorporated has a 12 month low of $50.21 and a 12 month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 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 12.41%. On average, sell-side analysts anticipate that Microchip Technology Incorporated will post 1.3 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be issued a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 3.38%. The ex-dividend date is Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is presently 325.00%.

Microchip Technology Company 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.