Microchip Technology Incorporated (NASDAQ:MCHP) Shares Purchased by Carl P. Sherr & Co. LLC

Carl P. Sherr & Co. LLC grew its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,970 shares of the semiconductor company’s stock after acquiring an additional 400 shares during the quarter. Carl P. Sherr & Co. LLC’s holdings in Microchip Technology were worth $686,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Prospera Private Wealth LLC acquired a new position in Microchip Technology during the third quarter worth approximately $29,000. Financial Life Planners purchased a new stake in shares of Microchip Technology during the 4th quarter valued at $32,000. Peterson Financial Group Inc. acquired a new stake in shares of Microchip Technology during the 3rd quarter worth $34,000. Truvestments Capital LLC purchased a new position in shares of Microchip Technology in the 3rd quarter worth $34,000. Finally, Hobbs Group Advisors LLC boosted its holdings in Microchip Technology by 390.6% in the third quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 500 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Microchip Technology Price Performance

Shares of NASDAQ MCHP opened at $61.07 on Friday. The business has a 50 day moving average price of $56.68 and a two-hundred day moving average price of $68.16. Microchip Technology Incorporated has a fifty-two week low of $50.21 and a fifty-two week high of $100.57. The firm has a market cap of $32.84 billion, a PE ratio of 109.05 and a beta of 1.50. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12.

Microchip Technology (NASDAQ:MCHP) last released its quarterly 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 return on equity of 12.62% and a net margin of 6.49%. Sell-side analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be given a dividend of $0.455 per share. The ex-dividend date is Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 2.98%. Microchip Technology’s payout ratio is 325.00%.

Analysts Set New Price Targets

Several brokerages have commented on MCHP. Morgan Stanley dropped their price target on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Raymond James reissued a “strong-buy” rating and set a $60.00 target price (down previously from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. KeyCorp cut their price target on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. B. Riley reiterated a “buy” rating and set a $75.00 price objective (down from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Finally, Susquehanna dropped their price objective on shares of Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.11.

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.