Modera Wealth Management LLC Purchases 452 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Modera Wealth Management LLC increased its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 12.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,153 shares of the semiconductor company’s stock after purchasing an additional 452 shares during the period. Modera Wealth Management LLC’s holdings in Microchip Technology were worth $238,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Prospera Private Wealth LLC purchased a new stake in shares of Microchip Technology during the 3rd quarter valued at about $29,000. Peterson Financial Group Inc. bought a new position in Microchip Technology during the third quarter valued at approximately $34,000. Truvestments Capital LLC purchased a new stake in Microchip Technology in the third quarter worth approximately $34,000. Financial Life Planners bought a new stake in Microchip Technology in the 4th quarter worth approximately $32,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in Microchip Technology during the 4th quarter valued at $34,000. 91.51% of the stock is owned by institutional investors.

Insider Buying and Selling at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the transaction, the chief financial officer now owns 33,272 shares in the company, valued at $2,025,599.36. This trade represents a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MCHP. Needham & Company LLC raised their price target on Microchip Technology from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday. KeyCorp cut their price target on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. Bank of America downgraded Microchip Technology from a “neutral” rating to an “underperform” rating and cut their price target for the company from $80.00 to $65.00 in a research note on Monday, December 16th. B. Riley reiterated a “buy” rating and issued a $75.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Finally, Stifel Nicolaus cut their target price on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.37.

Microchip Technology Stock Performance

NASDAQ MCHP opened at $59.64 on Thursday. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. Microchip Technology Incorporated has a twelve month low of $50.21 and a twelve month high of $100.57. The business has a 50-day moving average price of $56.95 and a 200-day moving average price of $66.99. The firm has a market cap of $32.08 billion, a price-to-earnings ratio of 106.50 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. As a group, equities research analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be paid a dividend of $0.455 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.05%. Microchip Technology’s payout ratio is 325.00%.

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.