Encompass Wealth Advisors LLC Takes $62,000 Position in Microchip Technology Incorporated (NASDAQ:MCHP)


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Encompass Wealth Advisors LLC purchased a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 448 shares of the semiconductor company’s stock, valued at approximately $62,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MCHP. Arrowstreet Capital Limited Partnership purchased a new position in shares of Microchip Technology in the third quarter valued at $1,706,000. Public Sector Pension Investment Board grew its position in shares of Microchip Technology by 28.8% in the third quarter. Public Sector Pension Investment Board now owns 30,516 shares of the semiconductor company’s stock valued at $3,136,000 after purchasing an additional 6,830 shares in the last quarter. Peapack Gladstone Financial Corp grew its position in shares of Microchip Technology by 5.5% in the third quarter. Peapack Gladstone Financial Corp now owns 11,699 shares of the semiconductor company’s stock valued at $1,202,000 after purchasing an additional 605 shares in the last quarter. Eudaimonia Partners LLC bought a new stake in Microchip Technology during the third quarter valued at $69,000. Finally, Squarepoint Ops LLC bought a new stake in Microchip Technology during the third quarter valued at $8,011,000. Institutional investors own 94.10% of the company’s stock.

Shares of MCHP opened at $159.71 on Thursday. The company has a quick ratio of 0.74, a current ratio of 1.07 and a debt-to-equity ratio of 1.50. The business’s 50 day moving average price is $152.53 and its 200-day moving average price is $135.58. Microchip Technology Incorporated has a 52 week low of $74.39 and a 52 week high of $166.67. The stock 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.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, February 4th. The semiconductor company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.17. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Microchip Technology had a return on equity of 25.02% and a net margin of 11.62%. On average, equities analysts anticipate that Microchip Technology Incorporated will post 5.79 EPS for the current year.

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

Several equities research analysts recently issued reports on the company. Credit Suisse Group lifted their price objective on Microchip Technology from $145.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, February 5th. Vertical Research lowered Microchip Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, February 3rd. The Goldman Sachs Group boosted their target price on Microchip Technology from $133.00 to $154.00 and gave the company a “buy” rating in a research note on Monday, December 14th. B. Riley boosted their target price on Microchip Technology from $180.00 to $186.00 and gave the company a “buy” rating in a research note on Friday, February 5th. Finally, Mizuho boosted their price target on Microchip Technology from $152.00 to $158.00 and gave the company a “buy” rating in a report on Friday, February 5th. Seven research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $147.44.

In other news, VP Stephen V. Drehobl sold 3,653 shares of the stock in a transaction on Monday, February 22nd. The stock was sold at an average price of $159.20, for a total transaction of $581,557.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Matthew W. Chapman sold 500 shares of the company’s stock in a transaction on Monday, February 22nd. The stock was sold at an average price of $159.20, for a total value of $79,600.00. Following the completion of the sale, the director now owns 18,856 shares of the company’s stock, valued at $3,001,875.20. The disclosure for this sale can be found here. Insiders sold a total of 5,586 shares of company stock worth $889,291 over the last ninety days. 2.15% of the stock is currently owned by insiders.

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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