Naples Global Advisors LLC Has $4.56 Million Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Naples Global Advisors LLC increased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 3.1% in the fourth quarter, HoldingsChannel reports. The firm owned 79,495 shares of the semiconductor company’s stock after purchasing an additional 2,426 shares during the period. Naples Global Advisors LLC’s holdings in Microchip Technology were worth $4,559,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MCHP. CX Institutional grew its position in 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 acquiring an additional 776 shares during the last quarter. Creative Planning grew its holdings in shares of Microchip Technology by 0.6% during the third 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 increased its stake in shares of Microchip Technology by 62.3% in the third quarter. Swedbank AB now owns 34,885 shares of the semiconductor company’s stock valued at $2,801,000 after buying an additional 13,392 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in shares of Microchip Technology by 24.4% in the third quarter. Vontobel Holding Ltd. now owns 67,532 shares of the semiconductor company’s stock valued at $5,422,000 after buying an additional 13,245 shares during the last quarter. Finally, Indiana Trust & Investment Management Co lifted its position in 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 worth $100,000 after buying an additional 250 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on MCHP. Needham & Company LLC lowered their price objective on shares of Microchip Technology from $85.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Mizuho decreased their price target 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. Citigroup dropped their price objective on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Jefferies Financial Group decreased their price objective on Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group cut their price target on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and an average price target of $77.11.

Microchip Technology Stock Performance

Shares of NASDAQ:MCHP opened at $53.85 on Thursday. The firm’s 50 day simple moving average is $57.09 and its 200 day simple moving average is $69.25. Microchip Technology Incorporated has a fifty-two week low of $50.21 and a fifty-two week high of $100.57. The company has a market capitalization of $28.92 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 current ratio of 0.88 and a quick ratio of 0.48.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.41% and a net margin of 6.49%. As a group, sell-side analysts forecast that Microchip Technology Incorporated will post 1.3 earnings per share for the current year.

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Monday, February 24th will be paid 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 yield of 3.38%. Microchip Technology’s payout ratio is 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.