Larson Financial Group LLC Has $236,000 Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Larson Financial Group LLC boosted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 55.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,938 shares of the semiconductor company’s stock after buying an additional 1,053 shares during the period. Larson Financial Group LLC’s holdings in Microchip Technology were worth $236,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Prospera Private Wealth LLC acquired a new position in Microchip Technology in the third quarter valued at approximately $29,000. Peterson Financial Group Inc. acquired a new position in Microchip Technology in the third quarter valued at approximately $34,000. Pathway Financial Advisers LLC acquired a new position in Microchip Technology in the first quarter valued at approximately $39,000. Versant Capital Management Inc lifted its holdings in Microchip Technology by 148.8% in the second quarter. Versant Capital Management Inc now owns 530 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 317 shares during the period. Finally, Wolff Wiese Magana LLC increased its stake in Microchip Technology by 55.2% in the third quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 218 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MCHP has been the subject of several recent analyst reports. Citigroup lowered their target price on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $90.00 target price on shares of Microchip Technology in a research note on Wednesday, November 6th. Piper Sandler lowered their target price on shares of Microchip Technology from $100.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. KeyCorp lowered their target price on shares of Microchip Technology from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. Finally, Needham & Company LLC lowered 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 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $92.00.

Microchip Technology Stock Down 0.8 %

Microchip Technology stock opened at $67.87 on Thursday. The company has a market cap of $36.45 billion, a P/E ratio of 47.46 and a beta of 1.53. Microchip Technology Incorporated has a 1-year low of $62.63 and a 1-year high of $100.57. The company has a fifty day simple moving average of $74.10 and a 200 day simple moving average of $82.69. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71.

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

Microchip Technology Increases Dividend

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

About Microchip Technology

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.