Microchip Technology Incorporated $MCHP Stock: Lido Advisors LLC Boosts Holdings

Lido Advisors LLC raised its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 17.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 88,265 shares of the semiconductor company’s stock after purchasing an additional 13,057 shares during the period. Lido Advisors LLC’s holdings in Microchip Technology were worth $6,864,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Keybank National Association OH boosted its holdings in Microchip Technology by 32.8% in the third quarter. Keybank National Association OH now owns 36,052 shares of the semiconductor company’s stock valued at $2,804,000 after acquiring an additional 8,900 shares during the last quarter. 71 West Capital Partners raised its holdings in Microchip Technology by 16.7% during the 3rd quarter. 71 West Capital Partners now owns 4,302 shares of the semiconductor company’s stock worth $335,000 after purchasing an additional 615 shares during the last quarter. Texas Bank & Trust Co raised its holdings in Microchip Technology by 5.4% during the 3rd quarter. Texas Bank & Trust Co now owns 22,880 shares of the semiconductor company’s stock worth $1,779,000 after purchasing an additional 1,181 shares during the last quarter. AlphaCore Capital LLC raised its holdings in Microchip Technology by 14.0% during the 3rd quarter. AlphaCore Capital LLC now owns 14,855 shares of the semiconductor company’s stock worth $1,155,000 after purchasing an additional 1,828 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Microchip Technology by 12.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 226,332 shares of the semiconductor company’s stock worth $17,767,000 after purchasing an additional 25,059 shares during the period. 91.51% of the stock is owned by institutional investors.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CFO James Bjornholt sold 4,112 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $75.32, for a total value of $309,715.84. Following the completion of the sale, the chief financial officer directly owned 28,573 shares in the company, valued at approximately $2,152,118.36. This trade represents a 12.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.79% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. B. Riley Financial reduced their price objective on shares of Microchip Technology from $98.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, November 6th. TD Cowen lowered their target price on shares of Microchip Technology from $90.00 to $75.00 and set a “hold” rating for the company in a research note on Monday, October 19th. UBS Group restated a “buy” rating and issued a $120.00 target price (down from $130.00) on shares of Microchip Technology in a report on Friday, August 7th. BMO Capital Markets began coverage on shares of Microchip Technology in a research report on Friday, August 21st. They set an “outperform” rating and a $95.00 price target on the stock. Finally, Zacks Research downgraded Microchip Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $90.18.

Microchip Technology Price Performance

Shares of MCHP opened at $62.08 on Friday. Microchip Technology Incorporated has a 52-week low of $48.52 and a 52-week high of $105.91. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.33 and a current ratio of 2.24. The business’s 50 day moving average price is $73.96 and its two-hundred day moving average price is $79.14. The firm has a market cap of $33.79 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 0.70 and a beta of 1.84.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, November 5th. The semiconductor company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.94 by $0.03. The company had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.61 billion. Microchip Technology had a net margin of 14.96% and a return on equity of 20.32%. The company’s quarterly revenue was up 42.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 EPS. On average, equities analysts anticipate that Microchip Technology Incorporated will post 3.19 EPS for the current year.

Microchip Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Investors of record on Monday, November 23rd will be paid a dividend of $0.4550 per share. The ex-dividend date of this dividend is Monday, November 23rd. This represents a $1.82 annualized dividend and a yield of 2.9%. Microchip Technology’s dividend payout ratio is currently 137.88%.

About Microchip Technology

Microchip Technology is a semiconductor company that develops and supplies components and systems for embedded control and connected applications. Its products include microcontrollers, microprocessors, analog and power-management devices, field-programmable gate arrays, timing products, and connectivity and security solutions. The company’s products are used in a range of markets, including automotive, industrial, communications, data center, consumer, and aerospace and defense. Microchip also provides development tools, software, and technical support to help customers design and build electronic systems.