Microchip Technology Incorporated (NASDAQ:MCHP) Shares Acquired by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE boosted its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 10.7% during the 4th quarter, Holdings Channel reports. The fund owned 15,952 shares of the semiconductor company’s stock after acquiring an additional 1,539 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Microchip Technology were worth $915,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MCHP. Vanguard Group Inc. boosted its position in shares of Microchip Technology by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 68,912,345 shares of the semiconductor company’s stock worth $3,952,123,000 after acquiring an additional 569,699 shares in the last quarter. LPL Financial LLC boosted its holdings in Microchip Technology by 25.4% in the fourth quarter. LPL Financial LLC now owns 542,005 shares of the semiconductor company’s stock valued at $31,084,000 after purchasing an additional 109,885 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Microchip Technology in the fourth quarter valued at approximately $10,224,000. AXQ Capital LP raised its holdings in Microchip Technology by 68.4% during the fourth quarter. AXQ Capital LP now owns 4,616 shares of the semiconductor company’s stock worth $265,000 after purchasing an additional 1,875 shares in the last quarter. Finally, Millstone Evans Group LLC purchased a new stake in shares of Microchip Technology during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Evercore ISI increased their target price on shares of Microchip Technology from $65.00 to $71.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Morgan Stanley cut their target price on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. The Goldman Sachs Group decreased their target price on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. StockNews.com lowered Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Finally, B. Riley restated a “buy” rating and set a $75.00 target price (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Microchip Technology currently has an average rating of “Moderate Buy” and a consensus target price of $74.37.

Microchip Technology Stock Performance

NASDAQ MCHP opened at $50.79 on Friday. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. The business’s 50 day moving average is $55.83 and its two-hundred day moving average is $64.16. The stock has a market capitalization of $27.32 billion, a price-to-earnings ratio of 90.70 and a beta of 1.52. Microchip Technology Incorporated has a 12-month low of $49.92 and a 12-month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. Research analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date was Monday, February 24th. Microchip Technology’s dividend payout ratio is currently 325.00%.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total transaction of $226,717.12. Following the sale, the chief financial officer now directly owns 33,272 shares in the company, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is currently owned by company insiders.

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.