13,057 Microchip Technology Incorporated $MCHP Shares Acquired by Lido Advisors LLC

Lido Advisors LLC boosted its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 17.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 88,265 shares of the semiconductor company’s stock after acquiring an additional 13,057 shares during the period. Lido Advisors LLC’s holdings in Microchip Technology were worth $6,864,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp grew its stake in Microchip Technology by 2.9% in the second quarter. State Street Corp now owns 28,851,673 shares of the semiconductor company’s stock valued at $2,631,273,000 after acquiring an additional 821,147 shares during the period. Van ECK Associates Corp raised its position in shares of Microchip Technology by 18.3% during the second quarter. Van ECK Associates Corp now owns 8,224,808 shares of the semiconductor company’s stock worth $750,102,000 after purchasing an additional 1,272,838 shares during the period. Artemis Wealth Advisors LLC acquired a new position in shares of Microchip Technology during the second quarter worth approximately $541,413,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Microchip Technology during the second quarter worth approximately $537,423,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Microchip Technology by 23.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,060,528 shares of the semiconductor company’s stock worth $461,520,000 after purchasing an additional 962,362 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MCHP shares. Zacks Research downgraded shares of Microchip Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. Weiss Ratings restated a “hold (c)” rating on shares of Microchip Technology in a report on Wednesday, November 4th. Needham & Company LLC dropped their price objective on shares of Microchip Technology from $120.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, November 6th. Barclays dropped their price objective on shares of Microchip Technology from $105.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, TD Cowen reduced their price objective on shares of Microchip Technology from $90.00 to $75.00 and set a “hold” rating for the company in a report on Monday, October 19th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $90.18.

Microchip Technology Stock Performance

Shares of Microchip Technology stock opened at $62.08 on Friday. The company has a market cap of $33.79 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 0.70 and a beta of 1.84. Microchip Technology Incorporated has a 52 week low of $48.52 and a 52 week high of $105.91. The business has a 50 day moving average price of $73.96 and a 200-day moving average price of $79.14. The company has a quick ratio of 1.33, a current ratio of 2.24 and a debt-to-equity ratio of 0.83.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, November 5th. The semiconductor company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.03. Microchip Technology had a return on equity of 20.32% and a net margin of 14.96%. The company had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the firm earned $0.35 earnings per share. Microchip Technology’s quarterly revenue was up 42.2% on a year-over-year basis. Equities analysts anticipate that Microchip Technology Incorporated will post 3.19 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Monday, November 23rd will be paid a dividend of $0.4550 per share. The ex-dividend date is Monday, November 23rd. This represents a $1.82 annualized dividend and a yield of 2.9%. Microchip Technology’s dividend payout ratio (DPR) is 137.88%.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Bjornholt sold 4,112 shares of Microchip Technology stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $75.32, for a total transaction of $309,715.84. Following the transaction, the chief financial officer directly owned 28,573 shares of the company’s stock, valued at $2,152,118.36. The trade was a 12.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.79% of the company’s stock.

About Microchip Technology

Microchip Technology is a semiconductor company that develops and supplies components and systems for embedded control and connected applications. Its products include microcontrollers, microprocessors, analog and power-management devices, field-programmable gate arrays, timing products, and connectivity and security solutions. The company’s products are used in a range of markets, including automotive, industrial, communications, data center, consumer, and aerospace and defense. Microchip also provides development tools, software, and technical support to help customers design and build electronic systems.