Independent Advisor Alliance Decreases Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Independent Advisor Alliance lessened its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 3.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 4,500 shares of the semiconductor company’s stock after selling 158 shares during the quarter. Independent Advisor Alliance’s holdings in Microchip Technology were worth $361,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in MCHP. Principal Financial Group Inc. grew its position in shares of Microchip Technology by 0.4% in the second quarter. Principal Financial Group Inc. now owns 9,246,403 shares of the semiconductor company’s stock valued at $846,046,000 after purchasing an additional 33,603 shares during the period. Van ECK Associates Corp lifted its stake in Microchip Technology by 25.1% in the 3rd quarter. Van ECK Associates Corp now owns 7,961,200 shares of the semiconductor company’s stock valued at $599,239,000 after buying an additional 1,597,263 shares in the last quarter. Legal & General Group Plc boosted its holdings in Microchip Technology by 2.4% in the 2nd quarter. Legal & General Group Plc now owns 4,455,317 shares of the semiconductor company’s stock worth $407,660,000 after buying an additional 103,807 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Microchip Technology by 21.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,298,771 shares of the semiconductor company’s stock worth $301,797,000 after buying an additional 575,087 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Microchip Technology by 4.5% during the second quarter. Envestnet Asset Management Inc. now owns 3,164,101 shares of the semiconductor company’s stock valued at $289,515,000 after acquiring an additional 136,995 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MCHP has been the topic of a number of research analyst reports. StockNews.com lowered Microchip Technology from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $90.00 target price on shares of Microchip Technology in a research note on Wednesday, November 6th. Needham & Company LLC reduced their target price on shares of Microchip Technology from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Evercore ISI reissued an “outperform” rating and issued a $95.00 price target (down from $101.00) on shares of Microchip Technology in a research note on Wednesday, November 6th. Finally, TD Cowen dropped their price objective 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Microchip Technology has a consensus rating of “Moderate Buy” and a consensus price target of $92.00.

Microchip Technology Trading Down 0.8 %

Shares of MCHP stock opened at $67.87 on Friday. Microchip Technology Incorporated has a 1-year low of $62.63 and a 1-year high of $100.57. The firm has a market cap of $36.45 billion, a PE ratio of 47.46 and a beta of 1.53. The company has a 50-day moving average of $73.88 and a two-hundred day moving average of $82.59. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the firm earned $1.54 EPS. The firm’s revenue for the quarter was down 48.4% on a year-over-year basis. On average, analysts predict that Microchip Technology Incorporated will post 1.38 EPS for the current year.

Microchip Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Friday, November 22nd. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s payout ratio is currently 127.27%.

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.