CreativeOne Wealth LLC Acquires 562 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

CreativeOne Wealth LLC lifted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 2.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,559 shares of the semiconductor company’s stock after acquiring an additional 562 shares during the quarter. CreativeOne Wealth LLC’s holdings in Microchip Technology were worth $2,293,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in Microchip Technology by 0.4% in the 2nd quarter. Principal Financial Group Inc. now owns 9,246,403 shares of the semiconductor company’s stock worth $846,046,000 after buying an additional 33,603 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Microchip Technology by 25.1% during the 3rd quarter. Van ECK Associates Corp now owns 7,961,200 shares of the semiconductor company’s stock valued at $599,239,000 after purchasing an additional 1,597,263 shares during the last quarter. Boston Partners grew its position in shares of Microchip Technology by 10.7% during the first quarter. Boston Partners now owns 7,591,471 shares of the semiconductor company’s stock valued at $681,838,000 after purchasing an additional 736,818 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Microchip Technology by 2.4% in the second quarter. Legal & General Group Plc now owns 4,455,317 shares of the semiconductor company’s stock worth $407,660,000 after purchasing an additional 103,807 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Microchip Technology by 21.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,298,771 shares of the semiconductor company’s stock valued at $301,797,000 after purchasing an additional 575,087 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Price Performance

NASDAQ:MCHP opened at $67.87 on Thursday. The stock has a market capitalization of $36.45 billion, a PE ratio of 47.46 and a beta of 1.53. Microchip Technology Incorporated has a 52 week low of $62.63 and a 52 week high of $100.57. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The stock’s 50-day moving average price is $74.10 and its 200-day moving average price is $82.69.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the business earned $1.54 earnings per share. The business’s revenue was down 48.4% compared to the same quarter last year. As a group, equities analysts expect that Microchip Technology Incorporated will post 1.38 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently announced 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 a positive change from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, November 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.68%. Microchip Technology’s dividend payout ratio (DPR) is 127.27%.

Analyst Ratings Changes

Several research analysts recently commented on MCHP shares. StockNews.com lowered Microchip Technology from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Truist Financial lowered shares of Microchip Technology from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $89.00 to $80.00 in a research note on Monday, September 23rd. B. Riley cut their target price on shares of Microchip Technology from $110.00 to $103.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. 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 research report on Wednesday, November 6th. Finally, Needham & Company LLC reduced their price objective on shares of Microchip Technology from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $92.00.

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.