Tiemann Investment Advisors LLC Has $1.01 Million Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Tiemann Investment Advisors LLC cut its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 2.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 17,578 shares of the semiconductor company’s stock after selling 367 shares during the period. Tiemann Investment Advisors LLC’s holdings in Microchip Technology were worth $1,008,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in shares of Microchip Technology in the 4th quarter valued at $29,000. Personal CFO Solutions LLC lifted its holdings in Microchip Technology by 89.7% in the fourth quarter. Personal CFO Solutions LLC now owns 13,450 shares of the semiconductor company’s stock valued at $771,000 after buying an additional 6,361 shares during the period. Lifeworks Advisors LLC boosted its position in Microchip Technology by 31.3% during the fourth quarter. Lifeworks Advisors LLC now owns 27,096 shares of the semiconductor company’s stock valued at $1,554,000 after acquiring an additional 6,458 shares during the last quarter. Larson Financial Group LLC grew its holdings in Microchip Technology by 14.6% during the 4th quarter. Larson Financial Group LLC now owns 3,366 shares of the semiconductor company’s stock worth $193,000 after acquiring an additional 428 shares during the period. Finally, Edgestream Partners L.P. raised its position in shares of Microchip Technology by 232.1% in the 4th quarter. Edgestream Partners L.P. now owns 124,125 shares of the semiconductor company’s stock worth $7,119,000 after acquiring an additional 86,748 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

MCHP has been the subject of several recent analyst reports. Bank of America cut Microchip Technology from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $80.00 to $65.00 in a research note on Monday, December 16th. Needham & Company LLC increased their price target on Microchip Technology from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. TD Cowen lifted their price objective on shares of Microchip Technology from $50.00 to $60.00 and gave the company a “hold” rating in a research note on Tuesday, March 4th. Evercore ISI boosted their target price on shares of Microchip Technology from $65.00 to $71.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Finally, Piper Sandler restated an “overweight” rating and issued a $65.00 price target (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.37.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total transaction 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. This represents a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.10% of the stock is owned by corporate insiders.

Microchip Technology Stock Up 2.6 %

MCHP opened at $59.77 on Monday. The firm has a market capitalization of $32.15 billion, a P/E ratio of 106.73 and a beta of 1.52. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The company’s 50-day moving average is $56.98 and its 200 day moving average is $66.56. Microchip Technology Incorporated has a fifty-two week low of $50.21 and a fifty-two week high of $100.57.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) 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%. Research analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were paid a $0.455 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.05%. Microchip Technology’s payout ratio 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.