Nicolet Advisory Services LLC Boosts Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Nicolet Advisory Services LLC lifted its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 11.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,716 shares of the semiconductor company’s stock after purchasing an additional 694 shares during the quarter. Nicolet Advisory Services LLC’s holdings in Microchip Technology were worth $519,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in shares of Microchip Technology by 17.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,527,709 shares of the semiconductor company’s stock valued at $406,182,000 after buying an additional 673,992 shares during the period. Mount Yale Investment Advisors LLC raised its position in Microchip Technology by 17.5% in the first quarter. Mount Yale Investment Advisors LLC now owns 23,919 shares of the semiconductor company’s stock valued at $2,146,000 after purchasing an additional 3,569 shares during the period. SVB Wealth LLC lifted its stake in shares of Microchip Technology by 2.4% in the 1st quarter. SVB Wealth LLC now owns 83,922 shares of the semiconductor company’s stock valued at $7,529,000 after purchasing an additional 1,934 shares during the last quarter. Benchmark Investment Advisors LLC purchased a new position in shares of Microchip Technology during the 1st quarter worth $1,245,000. Finally, Dynasty Wealth Management LLC acquired a new stake in shares of Microchip Technology during the 1st quarter worth about $1,028,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Stock Up 1.0 %

MCHP stock opened at $66.69 on Friday. Microchip Technology Incorporated has a fifty-two week low of $62.63 and a fifty-two week high of $100.57. The company’s 50 day moving average price is $74.59 and its 200 day moving average price is $83.17. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88. The firm has a market capitalization of $35.81 billion, a price-to-earnings ratio of 46.64 and a beta of 1.53.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The company’s quarterly revenue was down 48.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.54 EPS. On average, equities research analysts anticipate that Microchip Technology Incorporated will post 1.38 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 2.73%. This is an increase 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%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MCHP shares. Susquehanna decreased their target price on shares of Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a research report on Wednesday, November 6th. Bank of America cut shares of Microchip Technology from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $110.00 to $90.00 in a research report on Friday, August 2nd. B. Riley cut their target price on Microchip Technology from $110.00 to $103.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. StockNews.com lowered Microchip Technology from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Finally, TD Cowen dropped their price objective on Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company 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 fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $92.00.

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.