Mount Yale Investment Advisors LLC Increases Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Mount Yale Investment Advisors LLC raised its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 12.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,418 shares of the semiconductor company’s stock after acquiring an additional 3,438 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Microchip Technology were worth $1,744,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MCHP. Prospera Private Wealth LLC purchased a new position in Microchip Technology during the 3rd quarter valued at about $29,000. Peterson Financial Group Inc. purchased a new position in shares of Microchip Technology during the third quarter valued at approximately $34,000. Truvestments Capital LLC bought a new position in shares of Microchip Technology during the third quarter valued at approximately $34,000. Wolff Wiese Magana LLC lifted its stake in Microchip Technology by 55.2% in the third 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. Finally, Hobbs Group Advisors LLC boosted its holdings in Microchip Technology by 390.6% in the third quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 500 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Microchip Technology Price Performance

Shares of MCHP opened at $56.39 on Monday. The company has a market capitalization of $30.28 billion, a P/E ratio of 39.43 and a beta of 1.52. Microchip Technology Incorporated has a twelve month low of $54.47 and a twelve month high of $100.57. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The firm has a 50 day moving average of $60.28 and a 200 day moving average of $72.33.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. The company’s revenue was down 48.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.54 earnings per share. As a group, equities research analysts anticipate that Microchip Technology Incorporated will post 1.31 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were paid a dividend of $0.455 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $1.82 annualized dividend and a yield of 3.23%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio is currently 127.27%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Bank of America cut shares of Microchip Technology from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $80.00 to $65.00 in a research report on Monday, December 16th. Piper Sandler cut their price objective on Microchip Technology from $100.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. Needham & Company LLC reissued a “buy” rating and issued a $85.00 target price on shares of Microchip Technology in a research report on Tuesday, December 3rd. Citigroup dropped their price target on Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Finally, TD Cowen reduced their price target on Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock 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 thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $84.00.

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.