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

Buttonwood Financial Advisors Inc. lifted its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 48.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,386 shares of the semiconductor company’s stock after purchasing an additional 29,282 shares during the period. Microchip Technology comprises about 2.3% of Buttonwood Financial Advisors Inc.’s holdings, making the stock its 12th largest holding. Buttonwood Financial Advisors Inc.’s holdings in Microchip Technology were worth $5,126,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp increased its holdings in Microchip Technology by 25.1% in the third quarter. Van ECK Associates Corp now owns 7,961,200 shares of the semiconductor company’s stock valued at $599,239,000 after buying an additional 1,597,263 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Microchip Technology by 2.4% during the 2nd quarter. Legal & General Group Plc now owns 4,455,317 shares of the semiconductor company’s stock worth $407,660,000 after acquiring an additional 103,807 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Microchip Technology by 30.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company’s stock valued at $264,430,000 after acquiring an additional 776,408 shares during the last quarter. Charles Schwab Investment Management Inc. lifted 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 purchasing an additional 25,872 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Microchip Technology by 9,901.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock valued at $163,886,000 after purchasing an additional 2,829,082 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Price Performance

Microchip Technology stock opened at $56.39 on Monday. The company has a market cap of $30.28 billion, a P/E ratio of 39.43 and a beta of 1.52. Microchip Technology Incorporated has a one year low of $54.47 and a one year high of $100.57. The business has a fifty day moving average of $60.28 and a two-hundred day moving average of $72.50. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 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 firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the firm earned $1.54 earnings per share. The firm’s revenue was down 48.4% on a year-over-year basis. As a group, analysts predict that Microchip Technology Incorporated will post 1.31 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 3.23%. The ex-dividend date was Friday, November 22nd. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s payout ratio is 127.27%.

Analysts Set New Price Targets

A number of research firms have weighed in on MCHP. Stifel Nicolaus cut their price objective on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. Piper Sandler reduced their price target on shares of Microchip Technology from $100.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th. Evercore ISI reaffirmed an “outperform” rating and set a $95.00 price objective (down previously from $101.00) on shares of Microchip Technology in a report on Wednesday, November 6th. Mizuho reduced their target price on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Finally, TD Cowen dropped their price target on Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $84.00.

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.