Telemus Capital LLC Raises Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Telemus Capital LLC grew its stake in Microchip Technology Incorporated (NASDAQ:MCHP – Get Rating) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,517 shares of the semiconductor company’s stock after buying an additional 710 shares during the quarter. Telemus Capital LLC’s holdings in Microchip Technology were worth $5,714,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCHP. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Microchip Technology during the third quarter worth about $25,000. MV Capital Management Inc. lifted its stake in shares of Microchip Technology by 157.1% in the 3rd quarter. MV Capital Management Inc. now owns 432 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 264 shares during the last quarter. Almanack Investment Partners LLC. bought a new stake in shares of Microchip Technology in the 3rd quarter valued at approximately $29,000. Accurate Wealth Management LLC bought a new stake in shares of Microchip Technology in the 4th quarter valued at approximately $40,000. Finally, Covestor Ltd lifted its stake in shares of Microchip Technology by 48.2% during the 1st quarter. Covestor Ltd now owns 569 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 89.85% of the company’s stock.

Microchip Technology Stock Performance

NASDAQ:MCHP opened at $80.71 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $44.21 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 0.85 and a beta of 1.58. The firm’s fifty day simple moving average is $80.21 and its 200 day simple moving average is $72.23. Microchip Technology Incorporated has a twelve month low of $54.33 and a twelve month high of $87.76.

Microchip Technology Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 7th. Stockholders of record on Tuesday, February 21st were given a $0.358 dividend. The ex-dividend date of this dividend was Friday, February 17th. This represents a $1.43 annualized dividend and a dividend yield of 1.77%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.33. Microchip Technology’s payout ratio is presently 38.75%.

Analyst Upgrades and Downgrades

Several research firms have commented on MCHP. Citigroup raised their price objective on Microchip Technology from $74.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, February 3rd. KeyCorp lifted their price target on Microchip Technology from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. The Goldman Sachs Group boosted their target price on Microchip Technology from $76.00 to $87.00 and gave the stock a “neutral” rating in a research note on Monday, February 6th. Susquehanna lifted their price target on Microchip Technology from $85.00 to $100.00 and gave the stock a “positive” rating in a research report on Friday, February 3rd. Finally, Wells Fargo & Company lifted their price target on Microchip Technology from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, February 3rd. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Microchip Technology currently has an average rating of “Moderate Buy” and an average target price of $90.58.

Microchip Technology Profile

(Get Rating)

Microchip Technology, Inc engages in the provision of semiconductor products. It operates through the Semiconductor Products and Technology Licensing segments. The Semiconductor Products segment is involved in designing, developing, manufacturing, and marketing microcontrollers, development tools and analog, interface, mixed signal, connectivity devices, and timing products.