Microchip Technology Incorporated (NASDAQ:MCHP) Shares Purchased by Waterfront Wealth Inc.

Waterfront Wealth Inc. raised its stake in Microchip Technology Incorporated (NASDAQ:MCHPFree Report) by 47.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,409 shares of the semiconductor company’s stock after purchasing an additional 6,251 shares during the quarter. Waterfront Wealth Inc.’s holdings in Microchip Technology were worth $1,113,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Prospera Private Wealth LLC acquired a new position in shares of Microchip Technology during the 3rd quarter valued at $29,000. Peterson Financial Group Inc. bought a new stake in shares of Microchip Technology during the 3rd quarter valued at about $34,000. Truvestments Capital LLC bought a new stake in shares of Microchip Technology during the 3rd quarter valued at about $34,000. Financial Life Planners acquired a new position in Microchip Technology during the 4th quarter valued at about $32,000. Finally, Hobbs Group Advisors LLC boosted its stake in Microchip Technology by 390.6% during the 3rd quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 500 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Trading Up 1.1 %

Shares of NASDAQ MCHP opened at $64.30 on Friday. Microchip Technology Incorporated has a 1-year low of $50.21 and a 1-year high of $100.57. The company has a market cap of $34.58 billion, a PE ratio of 114.82 and a beta of 1.50. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. The company has a 50-day moving average of $56.63 and a two-hundred day moving average of $68.19.

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

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Monday, February 24th. Microchip Technology’s dividend payout ratio is presently 325.00%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Citigroup reduced their price target on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Rosenblatt Securities restated a “buy” rating and set a $90.00 price target on shares of Microchip Technology in a report on Thursday, February 6th. B. Riley reiterated a “buy” rating and issued a $75.00 target price (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. TD Cowen dropped their price target on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Finally, Raymond James reiterated a “strong-buy” rating and issued a $60.00 target price (down from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Microchip Technology has a consensus rating of “Moderate Buy” and an average target price of $77.11.

Check Out Our Latest Stock Report on MCHP

Microchip Technology Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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