RFG Advisory LLC Has $450,000 Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

RFG Advisory LLC cut its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHPFree Report) by 9.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,855 shares of the semiconductor company’s stock after selling 805 shares during the period. RFG Advisory LLC’s holdings in Microchip Technology were worth $450,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Pallas Capital Advisors LLC acquired a new stake in Microchip Technology during the 4th quarter worth approximately $5,917,000. Quadrature Capital Ltd bought a new position in Microchip Technology during the 3rd quarter worth $3,312,000. Benjamin Edwards Inc. lifted its holdings in shares of Microchip Technology by 5,185.4% during the third quarter. Benjamin Edwards Inc. now owns 9,408 shares of the semiconductor company’s stock worth $755,000 after buying an additional 9,230 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Microchip Technology by 25.7% in the third quarter. Empowered Funds LLC now owns 96,163 shares of the semiconductor company’s stock valued at $7,721,000 after acquiring an additional 19,663 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Microchip Technology by 9,901.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock valued at $163,886,000 after acquiring an additional 2,829,082 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

MCHP has been the subject of a number of recent research reports. TD Cowen cut their price objective on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Needham & Company LLC reiterated a “buy” rating and issued a $85.00 price target on shares of Microchip Technology in a research note on Tuesday, December 3rd. Mizuho lowered their price objective on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Susquehanna cut their target price on Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, November 6th. Finally, KeyCorp decreased their price target on Microchip Technology from $90.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Microchip Technology has a consensus rating of “Moderate Buy” and a consensus target price of $84.00.

Check Out Our Latest Analysis on Microchip Technology

Microchip Technology Price Performance

Microchip Technology stock opened at $57.12 on Tuesday. The company has a market capitalization of $30.68 billion, a PE ratio of 39.95 and a beta of 1.52. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71. The stock has a 50-day moving average price of $60.28 and a two-hundred day moving average price of $72.33. Microchip Technology Incorporated has a 12 month low of $54.47 and a 12 month high of $100.57.

Microchip Technology (NASDAQ:MCHPGet Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business earned $1.54 EPS. The firm’s quarterly revenue was down 48.4% on a year-over-year basis. Analysts expect that Microchip Technology Incorporated will post 1.31 EPS for the current year.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were paid a $0.455 dividend. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $1.82 annualized dividend and a dividend yield of 3.19%. Microchip Technology’s payout ratio is currently 127.27%.

Microchip Technology Profile

(Free Report)

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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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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