Microchip Technology Incorporated (NASDAQ:MCHP) Position Increased by Carl P. Sherr & Co. LLC

Carl P. Sherr & Co. LLC grew its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,970 shares of the semiconductor company’s stock after purchasing an additional 400 shares during the period. Carl P. Sherr & Co. LLC’s holdings in Microchip Technology were worth $686,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Pallas Capital Advisors LLC bought a new position in Microchip Technology during the 4th quarter worth $5,917,000. Consolidated Planning Corp acquired a new position in shares of Microchip Technology during the fourth quarter valued at $308,000. Quadrature Capital Ltd bought a new position in shares of Microchip Technology during the third quarter worth about $3,312,000. Symphony Financial Ltd. Co. acquired a new stake in shares of Microchip Technology in the 4th quarter worth about $520,000. Finally, Benjamin Edwards Inc. lifted its position in Microchip Technology by 5,185.4% in the 3rd quarter. Benjamin Edwards Inc. now owns 9,408 shares of the semiconductor company’s stock valued at $755,000 after purchasing an additional 9,230 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Stock Performance

Shares of MCHP opened at $61.07 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The firm’s 50 day moving average is $56.68 and its 200-day moving average is $68.16. Microchip Technology Incorporated has a 12-month low of $50.21 and a 12-month high of $100.57. The stock has a market capitalization of $32.84 billion, a P/E ratio of 109.05 and a beta of 1.50.

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

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is presently 325.00%.

Analyst Ratings Changes

A number of research analysts have issued reports on MCHP shares. TD Cowen reduced their target price on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Raymond James reiterated a “strong-buy” rating and set a $60.00 price objective (down from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. StockNews.com cut Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Morgan Stanley cut their target price on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Finally, Citigroup decreased their price target on Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $77.11.

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.