Independent Advisor Alliance Has $609,000 Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Independent Advisor Alliance lifted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 136.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,627 shares of the semiconductor company’s stock after purchasing an additional 6,127 shares during the period. Independent Advisor Alliance’s holdings in Microchip Technology were worth $609,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on MCHP shares. Raymond James restated a “strong-buy” rating and issued a $60.00 price objective (down from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. B. Riley restated a “buy” rating and issued a $75.00 price objective (down from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. The Goldman Sachs Group reduced their price objective on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Mizuho boosted their price objective on shares of Microchip Technology from $58.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 4th. Finally, KeyCorp cut their price target on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, February 7th. 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 given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.37.

Microchip Technology Trading Up 3.1 %

Shares of MCHP opened at $53.50 on Monday. The stock has a 50 day simple moving average of $56.51 and a 200-day simple moving average of $65.58. 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 cap of $28.77 billion, a PE ratio of 95.54 and a beta of 1.52. Microchip Technology Incorporated has a 1 year low of $50.21 and a 1 year high of $100.57.

Microchip Technology (NASDAQ:MCHP) last issued 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%. On average, sell-side analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were given a $0.455 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a yield of 3.40%. Microchip Technology’s dividend payout ratio (DPR) is presently 325.00%.

Insiders Place Their Bets

In other news, CFO James Eric Bjornholt sold 3,724 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the sale, the chief financial officer now owns 33,272 shares of the company’s stock, valued at approximately $2,025,599.36. This trade represents a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.10% of the company’s stock.

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.