First Hawaiian Bank Boosts Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

First Hawaiian Bank increased its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,053 shares of the semiconductor company’s stock after acquiring an additional 780 shares during the quarter. First Hawaiian Bank’s holdings in Microchip Technology were worth $1,896,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Prospera Private Wealth LLC acquired a new position in shares of Microchip Technology during the 3rd quarter worth approximately $29,000. Peterson Financial Group Inc. acquired a new position in Microchip Technology during the third quarter worth $34,000. Truvestments Capital LLC purchased a new stake in Microchip Technology in the 3rd quarter valued at $34,000. Wolff Wiese Magana LLC increased its stake in shares of Microchip Technology by 55.2% in the 3rd quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock worth $49,000 after acquiring an additional 218 shares during the last quarter. Finally, Hobbs Group Advisors LLC raised its holdings in shares of Microchip Technology by 390.6% during the 3rd quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 500 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MCHP. Rosenblatt Securities restated a “buy” rating and set a $90.00 price objective on shares of Microchip Technology in a research report on Wednesday, November 6th. Stifel Nicolaus cut their price target on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Mizuho set a $95.00 price objective on Microchip Technology in a report on Friday, October 18th. Evercore ISI restated an “outperform” rating and issued a $95.00 target price (down previously from $101.00) on shares of Microchip Technology in a research report on Wednesday, November 6th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $85.00 price target on shares of Microchip Technology in a report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.63.

Microchip Technology Stock Down 1.9 %

MCHP opened at $56.38 on Thursday. 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 Incorporated has a 12 month low of $55.27 and a 12 month high of $100.57. The stock has a market capitalization of $30.28 billion, a P/E ratio of 39.43 and a beta of 1.52. The business has a 50 day simple moving average of $63.57 and a 200-day simple moving average of $75.37.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.43 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates 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 was down 48.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.54 EPS. On average, equities analysts anticipate that Microchip Technology Incorporated will post 1.33 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

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

Microchip Technology 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.