Dynamic Advisor Solutions LLC Has $1.27 Million Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Dynamic Advisor Solutions LLC raised its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 10.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,168 shares of the semiconductor company’s stock after buying an additional 2,172 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Microchip Technology were worth $1,271,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of MCHP. Exchange Traded Concepts LLC raised its holdings in Microchip Technology by 28.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 197,279 shares of the semiconductor company’s stock valued at $11,314,000 after buying an additional 43,615 shares in the last quarter. IVC Wealth Advisors LLC boosted its position in shares of Microchip Technology by 23.0% in the fourth quarter. IVC Wealth Advisors LLC now owns 4,660 shares of the semiconductor company’s stock valued at $267,000 after acquiring an additional 871 shares during the period. Inspire Investing LLC increased its stake in Microchip Technology by 1.6% during the fourth 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 during the period. 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 valued at $5,485,000 after purchasing an additional 987 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Microchip Technology by 134.5% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 593,047 shares of the semiconductor company’s stock worth $34,011,000 after acquiring an additional 340,100 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Trading Down 5.3 %

Shares of Microchip Technology stock opened at $56.39 on Monday. The stock’s 50-day simple moving average is $60.28 and its 200 day simple moving average is $72.50. The stock has a market capitalization of $30.28 billion, a P/E ratio of 39.43 and a beta of 1.52. Microchip Technology Incorporated has a 52-week low of $54.47 and a 52-week high of $100.57. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The business’s revenue for the quarter was down 48.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.54 EPS. As a group, research analysts anticipate that Microchip Technology Incorporated will post 1.31 EPS 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 issued a $0.455 dividend. The ex-dividend date was Friday, November 22nd. This represents a $1.82 annualized dividend and a dividend yield of 3.23%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio (DPR) is presently 127.27%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Rosenblatt Securities restated a “buy” rating and issued a $90.00 target price on shares of Microchip Technology in a research note on Wednesday, November 6th. B. Riley dropped their target price on Microchip Technology from $93.00 to $85.00 and set a “buy” rating for the company in a research report on Friday. TD Cowen reduced their price target on Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. Evercore ISI restated an “outperform” rating and set a $95.00 price objective (down previously from $101.00) on shares of Microchip Technology in a report on Wednesday, November 6th. Finally, StockNews.com raised Microchip Technology from a “sell” rating to a “hold” rating in a research report on Friday, December 13th. 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 presently has a consensus rating of “Moderate Buy” and an average target price of $84.00.

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.