Perennial Investment Advisors LLC Has $300,000 Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Perennial Investment Advisors LLC grew its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 6.5% in the fourth quarter, HoldingsChannel reports. The fund owned 5,231 shares of the semiconductor company’s stock after buying an additional 317 shares during the period. Perennial Investment Advisors LLC’s holdings in Microchip Technology were worth $300,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Mainstream Capital Management LLC bought a new position in Microchip Technology during the 4th quarter worth $26,000. Rakuten Securities Inc. increased its position in shares of Microchip Technology by 309.5% in the fourth quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 359 shares during the period. OFI Invest Asset Management acquired a new position in Microchip Technology in the fourth quarter valued at about $29,000. Financial Life Planners bought a new stake in Microchip Technology during the fourth quarter worth about $32,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in Microchip Technology during the fourth quarter worth about $34,000. 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 analyst reports. Morgan Stanley dropped their target price on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Needham & Company LLC upped their target price on Microchip Technology from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Mizuho raised their target price on Microchip Technology from $58.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. StockNews.com cut Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 10th. Finally, Evercore ISI raised their price objective on Microchip Technology from $65.00 to $71.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $74.37.

Microchip Technology Price Performance

MCHP stock opened at $36.22 on Monday. The company has a market capitalization of $19.48 billion, a P/E ratio of 64.68 and a beta of 1.51. The company has a fifty day moving average price of $54.29 and a 200-day moving average price of $62.67. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. Microchip Technology Incorporated has a 52-week low of $32.46 and a 52-week high of $100.57.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results 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%. As a group, equities analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were issued a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 5.02%. The ex-dividend date was Monday, February 24th. Microchip Technology’s payout ratio is presently 325.00%.

Insider Buying and Selling at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the sale, the chief financial officer now directly owns 33,272 shares of the company’s stock, valued at approximately $2,025,599.36. This represents a 10.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.10% of the company’s stock.

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.