Venturi Wealth Management LLC Has $727,000 Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Venturi Wealth Management LLC increased its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 54.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,668 shares of the semiconductor company’s stock after buying an additional 4,478 shares during the period. Venturi Wealth Management LLC’s holdings in Microchip Technology were worth $727,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in MCHP. Creative Planning grew its stake in shares of Microchip Technology by 0.6% in the 3rd quarter. Creative Planning now owns 116,549 shares of the semiconductor company’s stock valued at $9,358,000 after buying an additional 719 shares during the period. Raleigh Capital Management Inc. grew its stake in shares of Microchip Technology by 36.7% in the 3rd quarter. Raleigh Capital Management Inc. now owns 1,664 shares of the semiconductor company’s stock valued at $134,000 after buying an additional 447 shares during the period. Eastern Bank acquired a new stake in shares of Microchip Technology in the 3rd quarter valued at about $165,000. Commerzbank Aktiengesellschaft FI grew its stake in shares of Microchip Technology by 214.6% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 10,917 shares of the semiconductor company’s stock valued at $877,000 after buying an additional 7,447 shares during the period. Finally, Eagle Bay Advisors LLC boosted its stake in Microchip Technology by 21.6% during the 3rd quarter. Eagle Bay Advisors LLC now owns 1,668 shares of the semiconductor company’s stock valued at $134,000 after purchasing an additional 296 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Trading Up 9.9 %

NASDAQ:MCHP opened at $63.59 on Thursday. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $34.20 billion, a PE ratio of 113.55 and a beta of 1.50. The firm’s 50 day moving average is $56.58 and its 200 day moving average is $68.22. Microchip Technology Incorporated has a 12 month low of $50.21 and a 12 month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS 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 year.

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Monday, February 24th will be issued a dividend of $0.455 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a yield of 2.86%. Microchip Technology’s payout ratio is 325.00%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Bank of America downgraded Microchip Technology from a “neutral” rating to an “underperform” rating and cut their price target for the company from $80.00 to $65.00 in a research note on Monday, December 16th. B. Riley reiterated a “buy” rating and set a $75.00 price target (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. StockNews.com downgraded Microchip Technology from a “hold” rating to a “sell” rating in a research note on Monday, February 10th. The Goldman Sachs Group cut their price target on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Finally, Mizuho cut their price target on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $77.11.

About Microchip Technology

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.