ST Germain D J Co. Inc. bought a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP – Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,700 shares of the semiconductor company’s stock, valued at approximately $97,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Corundum Group Inc. increased its holdings in Microchip Technology by 3.4% during the 3rd quarter. Corundum Group Inc. now owns 4,315 shares of the semiconductor company’s stock worth $346,000 after purchasing an additional 143 shares during the period. Financial Advocates Investment Management increased its stake in shares of Microchip Technology by 1.5% during the third quarter. Financial Advocates Investment Management now owns 10,795 shares of the semiconductor company’s stock valued at $867,000 after buying an additional 158 shares during the period. Bruce G. Allen Investments LLC raised its holdings in shares of Microchip Technology by 11.4% in the third quarter. Bruce G. Allen Investments LLC now owns 1,578 shares of the semiconductor company’s stock valued at $127,000 after acquiring an additional 162 shares in the last quarter. Metis Global Partners LLC raised its holdings in shares of Microchip Technology by 1.0% in the third quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company’s stock valued at $1,378,000 after acquiring an additional 172 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in Microchip Technology by 2.9% in the second quarter. Parallel Advisors LLC now owns 6,351 shares of the semiconductor company’s stock worth $581,000 after acquiring an additional 178 shares during the period. Institutional investors own 91.51% of the company’s stock.
Microchip Technology Stock Performance
Shares of MCHP stock opened at $55.19 on Friday. The business has a fifty day moving average of $62.84 and a 200 day moving average of $74.91. Microchip Technology Incorporated has a 1 year low of $54.47 and a 1 year high of $100.57. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. The firm has a market capitalization of $29.64 billion, a price-to-earnings ratio of 38.59 and a beta of 1.52.
Microchip Technology Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were issued a $0.455 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a dividend yield of 3.30%. The ex-dividend date was Friday, November 22nd. Microchip Technology’s dividend payout ratio is 127.27%.
Wall Street Analyst Weigh In
A number of research firms have commented on MCHP. StockNews.com raised shares of Microchip Technology from a “sell” rating to a “hold” rating in a research report on Friday, December 13th. TD Cowen cut their price objective on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. Needham & Company LLC restated a “buy” rating and set a $85.00 target price on shares of Microchip Technology in a report on Tuesday, December 3rd. Stifel Nicolaus cut their price target on Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. Finally, Piper Sandler decreased their price objective on Microchip Technology from $100.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and an average target price of $87.11.
Check Out Our Latest Stock Analysis on MCHP
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.
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