Microchip Technology Incorporated (NASDAQ:MCHP) Shares Bought by Buttonwood Financial Advisors Inc.

Buttonwood Financial Advisors Inc. grew its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 48.7% during the 4th quarter, Holdings Channel reports. The fund owned 89,386 shares of the semiconductor company’s stock after acquiring an additional 29,282 shares during the period. Microchip Technology comprises about 2.3% of Buttonwood Financial Advisors Inc.’s portfolio, making the stock its 12th biggest position. Buttonwood Financial Advisors Inc.’s holdings in Microchip Technology were worth $5,126,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mackenzie Financial Corp boosted its position in Microchip Technology by 38.3% during the second quarter. Mackenzie Financial Corp now owns 64,624 shares of the semiconductor company’s stock worth $5,913,000 after acquiring an additional 17,881 shares during the last quarter. Lighthouse Investment Partners LLC purchased a new stake in shares of Microchip Technology in the second quarter valued at $339,000. Legal & General Group Plc increased its stake in Microchip Technology by 2.4% in the second quarter. Legal & General Group Plc now owns 4,455,317 shares of the semiconductor company’s stock valued at $407,660,000 after purchasing an additional 103,807 shares during the last quarter. Buck Wealth Strategies LLC purchased a new position in Microchip Technology during the second quarter worth about $6,558,000. Finally, Creative Planning boosted its stake in Microchip Technology by 2.5% in the 2nd quarter. Creative Planning now owns 115,830 shares of the semiconductor company’s stock worth $10,598,000 after buying an additional 2,797 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MCHP. Evercore ISI reiterated an “outperform” rating and set a $95.00 price objective (down from $101.00) on shares of Microchip Technology in a report on Wednesday, November 6th. KeyCorp decreased their price target on shares of Microchip Technology from $90.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Needham & Company LLC restated a “buy” rating and set a $85.00 price objective on shares of Microchip Technology in a report on Tuesday, December 3rd. Piper Sandler reduced their target price on Microchip Technology from $100.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. Finally, TD Cowen dropped their price target 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 analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $84.00.

Microchip Technology Stock Down 5.3 %

Shares of Microchip Technology stock opened at $56.39 on Monday. Microchip Technology Incorporated has a 1-year low of $54.47 and a 1-year high of $100.57. The company has a market capitalization of $30.28 billion, a PE ratio of 39.43 and a beta of 1.52. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. The business has a 50-day moving average of $60.28 and a 200-day moving average of $72.50.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share for the quarter, beating 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 firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the firm earned $1.54 EPS. Microchip Technology’s quarterly revenue was down 48.4% on a year-over-year basis. As a group, equities analysts forecast that Microchip Technology Incorporated will post 1.31 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were issued a $0.455 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a yield of 3.23%. Microchip Technology’s dividend payout ratio is currently 127.27%.

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.