Cetera Investment Advisers Buys New Position in Microchip Technology Incorporated (NASDAQ:MCHP)


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Cetera Investment Advisers purchased a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,069 shares of the semiconductor company’s stock, valued at approximately $562,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Resonant Capital Advisors LLC increased its position in shares of Microchip Technology by 3.0% in the fourth quarter. Resonant Capital Advisors LLC now owns 2,544 shares of the semiconductor company’s stock valued at $351,000 after acquiring an additional 75 shares during the last quarter. Duncker Streett & Co. Inc. raised its stake in shares of Microchip Technology by 5.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 1,581 shares of the semiconductor company’s stock worth $218,000 after purchasing an additional 75 shares in the last quarter. IHT Wealth Management LLC boosted its holdings in shares of Microchip Technology by 3.8% in the 3rd quarter. IHT Wealth Management LLC now owns 2,314 shares of the semiconductor company’s stock valued at $238,000 after buying an additional 85 shares during the last quarter. First Foundation Advisors grew its stake in shares of Microchip Technology by 3.2% in the fourth quarter. First Foundation Advisors now owns 2,774 shares of the semiconductor company’s stock valued at $383,000 after buying an additional 86 shares in the last quarter. Finally, Private Trust Co. NA grew its stake in shares of Microchip Technology by 4.0% in the fourth quarter. Private Trust Co. NA now owns 2,700 shares of the semiconductor company’s stock valued at $372,000 after buying an additional 105 shares in the last quarter. 94.10% of the stock is owned by institutional investors.

In related news, Director Matthew W. Chapman sold 500 shares of Microchip Technology stock in a transaction that occurred on Monday, February 22nd. The shares were sold at an average price of $159.20, for a total transaction of $79,600.00. Following the sale, the director now directly owns 18,856 shares of the company’s stock, valued at approximately $3,001,875.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James Eric Bjornholt sold 1,433 shares of the company’s stock in a transaction that occurred on Monday, February 22nd. The stock was sold at an average price of $159.20, for a total transaction of $228,133.60. Over the last 90 days, insiders have sold 5,586 shares of company stock valued at $889,291. 2.15% of the stock is owned by corporate insiders.

A number of research analysts have recently commented on MCHP shares. TheStreet downgraded shares of Microchip Technology from a “b” rating to a “c+” rating in a research report on Friday, March 5th. B. Riley lifted their price target on Microchip Technology from $180.00 to $186.00 and gave the stock a “buy” rating in a report on Friday, February 5th. Vertical Research lowered Microchip Technology from a “buy” rating to a “hold” rating in a report on Wednesday, February 3rd. Morgan Stanley raised their price target on Microchip Technology from $159.00 to $165.00 and gave the company an “overweight” rating in a report on Friday, February 5th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Microchip Technology from $135.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, February 5th. Seven analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $147.44.

MCHP stock opened at $159.71 on Thursday. The company’s 50-day moving average price is $152.53 and its two-hundred day moving average price is $135.58. The firm has a market cap of $43.00 billion, a P/E ratio of 68.25, a P/E/G ratio of 1.74 and a beta of 1.69. The company has a quick ratio of 0.74, a current ratio of 1.07 and a debt-to-equity ratio of 1.50. Microchip Technology Incorporated has a 12 month low of $74.39 and a 12 month high of $166.67.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, February 4th. The semiconductor company reported $1.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.17. Microchip Technology had a net margin of 11.62% and a return on equity of 25.02%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.35 billion. Equities analysts predict that Microchip Technology Incorporated will post 5.79 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, March 8th. Stockholders of record on Monday, February 22nd were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, February 19th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.98%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.37. Microchip Technology’s payout ratio is 30.12%.

Microchip Technology Company Profile

Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications in the Americas, Europe, and Asia. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit embedded microprocessors; and microcontrollers for automotive, industrial, aerospace, office communication, and computing applications.

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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