IVC Wealth Advisors LLC Purchases 871 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

IVC Wealth Advisors LLC lifted its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 23.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,660 shares of the semiconductor company’s stock after buying an additional 871 shares during the period. IVC Wealth Advisors LLC’s holdings in Microchip Technology were worth $267,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Inspire Investing LLC lifted its position in Microchip Technology by 1.6% in the 4th quarter. Inspire Investing LLC now owns 52,479 shares of the semiconductor company’s stock valued at $3,010,000 after acquiring an additional 821 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Microchip Technology by 1.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 95,634 shares of the semiconductor company’s stock worth $5,485,000 after purchasing an additional 987 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Microchip Technology by 134.5% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 593,047 shares of the semiconductor company’s stock valued at $34,011,000 after purchasing an additional 340,100 shares in the last quarter. Perpetual Ltd purchased a new stake in shares of Microchip Technology during the fourth quarter valued at $17,811,000. Finally, Ballentine Partners LLC increased its holdings in Microchip Technology by 10.2% in the 4th quarter. Ballentine Partners LLC now owns 4,713 shares of the semiconductor company’s stock worth $270,000 after buying an additional 437 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Price Performance

NASDAQ MCHP opened at $59.57 on Friday. The stock has a market cap of $31.99 billion, a price-to-earnings ratio of 41.66 and a beta of 1.52. Microchip Technology Incorporated has a 12 month low of $54.47 and a 12 month high of $100.57. The company’s 50 day moving average is $60.53 and its two-hundred day moving average is $72.98. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the business posted $1.54 EPS. Microchip Technology’s revenue for the quarter was down 48.4% compared to the same quarter last year. As a group, research analysts anticipate that Microchip Technology Incorporated will post 1.31 earnings per share for the current year.

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were paid a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 3.06%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, November 22nd. Microchip Technology’s dividend payout ratio is presently 127.27%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on MCHP shares. The Goldman Sachs Group lowered their target price on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Susquehanna dropped their target price on shares of Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, November 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $85.00 target price on shares of Microchip Technology in a research report on Tuesday, December 3rd. Jefferies Financial Group lowered their price target on Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, TD Cowen cut their price objective on Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $85.00.

About Microchip Technology

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.