Diversify Advisory Services LLC Has $520,000 Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Diversify Advisory Services LLC lowered its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 18.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,413 shares of the semiconductor company’s stock after selling 2,123 shares during the quarter. Diversify Advisory Services LLC’s holdings in Microchip Technology were worth $520,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of MCHP. Corundum Group Inc. grew its holdings in Microchip Technology by 3.4% in the third quarter. Corundum Group Inc. now owns 4,315 shares of the semiconductor company’s stock worth $346,000 after purchasing an additional 143 shares during the period. Financial Advocates Investment Management grew its stake in shares of Microchip Technology by 1.5% in the 3rd quarter. Financial Advocates Investment Management now owns 10,795 shares of the semiconductor company’s stock valued at $867,000 after buying an additional 158 shares during the period. Bruce G. Allen Investments LLC increased its position in Microchip Technology by 11.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,578 shares of the semiconductor company’s stock valued at $127,000 after buying an additional 162 shares in the last quarter. Metis Global Partners LLC raised its stake in Microchip Technology by 1.0% during the 3rd quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company’s stock worth $1,378,000 after buying an additional 172 shares during the period. Finally, Americana Partners LLC boosted its holdings in Microchip Technology by 5.5% in the third quarter. Americana Partners LLC now owns 3,441 shares of the semiconductor company’s stock worth $276,000 after acquiring an additional 179 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Stock Up 0.9 %

NASDAQ MCHP opened at $58.51 on Wednesday. Microchip Technology Incorporated has a 12 month low of $54.47 and a 12 month high of $100.57. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71. The stock has a market cap of $31.42 billion, a PE ratio of 40.92 and a beta of 1.52. The stock’s 50 day moving average is $60.87 and its 200 day moving average is $73.32.

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 the consensus estimate of $0.43 by $0.03. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the firm earned $1.54 EPS. The company’s revenue for the quarter was down 48.4% on a year-over-year basis. Research analysts predict that Microchip Technology Incorporated will post 1.31 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were issued a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Friday, November 22nd. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio (DPR) is 127.27%.

Analyst Ratings Changes

MCHP has been the topic of a number of recent research reports. Jefferies Financial Group dropped their price objective on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Bank of America downgraded shares of Microchip Technology from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $80.00 to $65.00 in a report on Monday, December 16th. KeyCorp reduced their price objective on shares of Microchip Technology from $90.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Mizuho dropped their target price on shares of Microchip Technology from $85.00 to $72.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Finally, Stifel Nicolaus reduced their target price on Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $85.00.

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.