Elmwood Wealth Management Inc. Acquires 300 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Elmwood Wealth Management Inc. boosted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,558 shares of the semiconductor company’s stock after acquiring an additional 300 shares during the period. Elmwood Wealth Management Inc.’s holdings in Microchip Technology were worth $1,179,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in MCHP. Prospera Private Wealth LLC bought a new stake in Microchip Technology in the 3rd quarter valued at $29,000. Peterson Financial Group Inc. bought a new position in Microchip Technology during the 3rd quarter worth $34,000. Truvestments Capital LLC bought a new position in Microchip Technology during the 3rd quarter worth $34,000. Wolff Wiese Magana LLC increased its position in Microchip Technology by 55.2% during the 3rd quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock worth $49,000 after buying an additional 218 shares during the period. Finally, Hobbs Group Advisors LLC increased its position in 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 buying an additional 500 shares during the period. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Trading Up 1.0 %

Shares of MCHP stock traded up $0.57 during mid-day trading on Monday, reaching $55.76. 3,975,974 shares of the stock traded hands, compared to its average volume of 7,197,011. The stock’s fifty day simple moving average is $62.84 and its two-hundred day simple moving average is $74.80. Microchip Technology Incorporated has a 1-year low of $54.47 and a 1-year high of $100.57. The company has a market cap of $29.94 billion, a price-to-earnings ratio of 38.99 and a beta of 1.52. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the company earned $1.54 earnings per share. The firm’s revenue was down 48.4% compared to the same quarter last year. On average, research analysts anticipate that Microchip Technology Incorporated will post 1.33 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.26%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date was Friday, November 22nd. Microchip Technology’s dividend payout ratio (DPR) is 127.27%.

Analysts Set New Price Targets

Several research firms have weighed in on MCHP. StockNews.com upgraded Microchip Technology from a “sell” rating to a “hold” rating in a research report on Friday, December 13th. Jefferies Financial Group lowered their price objective on Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Bank of America lowered Microchip Technology from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $80.00 to $65.00 in a report on Monday, December 16th. Stifel Nicolaus reduced their target price on Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. Finally, KeyCorp reduced their target price on Microchip Technology from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.11.

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.