Transamerica Financial Advisors Inc. Boosts Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Transamerica Financial Advisors Inc. boosted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 41.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,411 shares of the semiconductor company’s stock after purchasing an additional 711 shares during the period. Transamerica Financial Advisors Inc.’s holdings in Microchip Technology were worth $194,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. SeaCrest Wealth Management LLC increased its position in shares of Microchip Technology by 3.3% in the second quarter. SeaCrest Wealth Management LLC now owns 4,147 shares of the semiconductor company’s stock worth $379,000 after acquiring an additional 131 shares in the last quarter. Corundum Group Inc. increased its position in shares of 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 acquiring an additional 143 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its position in shares of Microchip Technology by 4.5% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 3,470 shares of the semiconductor company’s stock worth $318,000 after acquiring an additional 148 shares in the last quarter. Busey Bank increased its position in shares of Microchip Technology by 2.6% in the second quarter. Busey Bank now owns 6,006 shares of the semiconductor company’s stock worth $550,000 after acquiring an additional 155 shares in the last quarter. Finally, Financial Advocates Investment Management increased its position in shares of Microchip Technology by 1.5% in the third quarter. Financial Advocates Investment Management now owns 10,795 shares of the semiconductor company’s stock worth $867,000 after acquiring an additional 158 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Trading Down 2.1 %

NASDAQ MCHP opened at $68.41 on Wednesday. The company’s fifty day moving average price is $74.27 and its two-hundred day moving average price is $82.80. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. Microchip Technology Incorporated has a 12 month low of $62.63 and a 12 month high of $100.57. The company has a market capitalization of $36.74 billion, a price-to-earnings ratio of 47.84 and a beta of 1.53.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the firm posted $1.54 EPS. The company’s revenue for the quarter was down 48.4% on a year-over-year basis. As a group, research analysts predict that Microchip Technology Incorporated will post 1.38 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a $0.455 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Friday, November 22nd. Microchip Technology’s dividend payout ratio (DPR) is presently 127.27%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Truist Financial lowered shares of Microchip Technology from a “buy” rating to a “hold” rating and lowered their price target for the company from $89.00 to $80.00 in a report on Monday, September 23rd. Needham & Company LLC lowered their price target on shares of Microchip Technology from $96.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. TD Cowen lowered their price target on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Citigroup lowered their price target on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Bank of America lowered shares of Microchip Technology from a “buy” rating to a “neutral” rating and lowered their price target for the company from $110.00 to $90.00 in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Microchip Technology currently has an average rating of “Moderate Buy” and an average target price of $92.00.

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.