Whipplewood Advisors LLC Purchases New Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Whipplewood Advisors LLC purchased a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the 4th quarter, Holdings Channel reports. The fund purchased 1,194 shares of the semiconductor company’s stock, valued at approximately $68,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MCHP. Prospera Private Wealth LLC bought a new stake in shares of Microchip Technology during the third quarter valued at approximately $29,000. Financial Life Planners bought a new stake in Microchip Technology in the 4th quarter worth approximately $32,000. Peterson Financial Group Inc. bought a new stake in Microchip Technology in the 3rd quarter worth approximately $34,000. Truvestments Capital LLC bought a new stake in Microchip Technology in the 3rd quarter worth approximately $34,000. Finally, Hobbs Group Advisors LLC grew its position in Microchip Technology by 390.6% in the 3rd quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 500 shares during the period. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MCHP shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $90.00 target price on shares of Microchip Technology in a research report on Thursday, February 6th. Mizuho cut their target price on shares of Microchip Technology from $85.00 to $72.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Piper Sandler reaffirmed an “overweight” rating and issued a $65.00 target price (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Citigroup cut their target price 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. Finally, Evercore ISI reissued an “outperform” rating and set a $95.00 price objective (down previously from $101.00) on shares of Microchip Technology in a research report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.11.

Insider Activity at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the sale, the chief financial officer now owns 33,272 shares in the company, valued at $2,025,599.36. The trade was a 10.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is owned by corporate insiders.

Microchip Technology Stock Up 3.0 %

MCHP opened at $58.86 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. Microchip Technology Incorporated has a fifty-two week low of $50.21 and a fifty-two week high of $100.57. The firm’s fifty day moving average is $56.94 and its 200 day moving average is $67.52. The stock has a market cap of $31.66 billion, a price-to-earnings ratio of 105.11 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. On average, sell-side analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is 325.00%.

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.