8,038 Shares in Microchip Technology Incorporated (NASDAQ:MCHP) Bought by Bank of Jackson Hole Trust

Bank of Jackson Hole Trust purchased a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 8,038 shares of the semiconductor company’s stock, valued at approximately $461,000.

Several other hedge funds have also recently modified their holdings of MCHP. Creative Planning lifted its holdings in shares of Microchip Technology by 0.6% during the third quarter. Creative Planning now owns 116,549 shares of the semiconductor company’s stock worth $9,358,000 after purchasing an additional 719 shares during the period. Vest Financial LLC lifted its holdings in shares of Microchip Technology by 85.3% during the third quarter. Vest Financial LLC now owns 7,178 shares of the semiconductor company’s stock worth $576,000 after purchasing an additional 3,304 shares during the period. Raleigh Capital Management Inc. lifted its holdings in shares of Microchip Technology by 36.7% during the third quarter. Raleigh Capital Management Inc. now owns 1,664 shares of the semiconductor company’s stock worth $134,000 after purchasing an additional 447 shares during the period. Argus Investors Counsel Inc. lifted its holdings in shares of Microchip Technology by 97.4% during the third quarter. Argus Investors Counsel Inc. now owns 24,842 shares of the semiconductor company’s stock worth $1,995,000 after purchasing an additional 12,257 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Microchip Technology by 4.0% during the third quarter. Sequoia Financial Advisors LLC now owns 308,284 shares of the semiconductor company’s stock worth $24,752,000 after purchasing an additional 11,897 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MCHP shares. Bank of America downgraded Microchip Technology from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $80.00 to $65.00 in a report on Monday, December 16th. Citigroup cut their price objective on Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Evercore ISI reiterated an “outperform” rating and issued a $95.00 price objective (down previously from $101.00) on shares of Microchip Technology in a research report on Wednesday, November 6th. Mizuho cut their price objective on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Finally, Susquehanna cut their price objective on Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $77.11.

Microchip Technology Trading Up 3.8 %

Shares of MCHP stock opened at $57.86 on Wednesday. Microchip Technology Incorporated has a fifty-two week low of $50.21 and a fifty-two week high of $100.57. The stock has a market cap of $31.12 billion, a P/E ratio of 103.32 and a beta of 1.50. The business has a fifty day simple moving average of $56.66 and a 200-day simple moving average of $68.35. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12.

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

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors 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 yield of 3.15%. The ex-dividend date is Monday, February 24th. Microchip Technology’s dividend payout ratio is presently 325.00%.

Microchip Technology Company Profile

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.