OneDigital Investment Advisors LLC Acquires 280 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

OneDigital Investment Advisors LLC increased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 6.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,458 shares of the semiconductor company’s stock after buying an additional 280 shares during the period. OneDigital Investment Advisors LLC’s holdings in Microchip Technology were worth $358,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Pathway Financial Advisers LLC purchased a new position in shares of Microchip Technology during the first quarter worth about $39,000. Versant Capital Management Inc increased its position in shares of Microchip Technology by 148.8% during the 2nd quarter. Versant Capital Management Inc now owns 530 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 317 shares during the last quarter. Wolff Wiese Magana LLC raised its stake in Microchip Technology by 55.2% during the 3rd quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock worth $49,000 after acquiring an additional 218 shares during the period. TruNorth Capital Management LLC bought a new position in shares of Microchip Technology in the second quarter worth about $55,000. Finally, Family Firm Inc. bought a new stake in Microchip Technology in the 2nd quarter valued at $62,000. Institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on MCHP shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $90.00 price target on shares of Microchip Technology in a report on Wednesday, November 6th. Bank of America cut shares of Microchip Technology from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $110.00 to $90.00 in a report on Friday, August 2nd. Piper Sandler cut their price target 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. B. Riley dropped their target price on shares of Microchip Technology from $110.00 to $103.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, Truist Financial lowered shares of Microchip Technology from a “buy” rating to a “hold” rating and reduced their price target for the company from $89.00 to $80.00 in a research report on Monday, September 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $92.00.

Microchip Technology Trading Up 2.1 %

Shares of NASDAQ:MCHP opened at $66.49 on Friday. The company’s 50 day moving average is $74.80 and its two-hundred day moving average is $83.42. 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 company has a market cap of $35.71 billion, a PE ratio of 46.50 and a beta of 1.53. Microchip Technology Incorporated has a 52 week low of $62.63 and a 52 week high of $100.57.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the business earned $1.54 earnings per share. The firm’s revenue for the quarter was down 48.4% on a year-over-year basis. Equities analysts predict that Microchip Technology Incorporated will post 1.38 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.74%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, November 22nd. Microchip Technology’s payout ratio is 127.27%.

Microchip Technology Company 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.