Financial Advocates Investment Management Has $677,000 Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Financial Advocates Investment Management boosted its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 9.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,807 shares of the semiconductor company’s stock after buying an additional 1,012 shares during the quarter. Financial Advocates Investment Management’s holdings in Microchip Technology were worth $677,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MCHP. Van ECK Associates Corp boosted its stake in shares of Microchip Technology by 25.1% in the 3rd quarter. Van ECK Associates Corp now owns 7,961,200 shares of the semiconductor company’s stock valued at $599,239,000 after purchasing an additional 1,597,263 shares in the last quarter. Franklin Resources Inc. boosted its position in Microchip Technology by 30.2% in the third quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company’s stock valued at $264,430,000 after buying an additional 776,408 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Microchip Technology by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,026,946 shares of the semiconductor company’s stock worth $243,034,000 after buying an additional 25,872 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Microchip Technology by 9,901.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock worth $163,886,000 after buying an additional 2,829,082 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Microchip Technology by 20.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,751,987 shares of the semiconductor company’s stock valued at $220,957,000 after acquiring an additional 460,697 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MCHP has been the topic of a number of research analyst reports. The Goldman Sachs Group decreased their price target on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Raymond James restated a “strong-buy” rating and issued a $60.00 target price (down from $95.00) on shares of Microchip Technology in a research note on Friday. Jefferies Financial Group reduced their price target on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Mizuho lowered their price objective on shares of Microchip Technology from $85.00 to $72.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Finally, TD Cowen reduced their target price on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $77.11.

Microchip Technology Stock Performance

MCHP stock opened at $51.89 on Friday. Microchip Technology Incorporated has a 1-year low of $50.21 and a 1-year 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 firm has a market cap of $27.87 billion, a PE ratio of 36.29 and a beta of 1.50. The business’s 50-day moving average price is $58.04 and its two-hundred day moving average price is $70.26.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. As a group, research analysts forecast that Microchip Technology Incorporated will post 1.31 earnings per share for the current year.

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be given a $0.455 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.51%. Microchip Technology’s dividend payout ratio 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.