Gilbert & Cook Inc. Raises Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Gilbert & Cook Inc. increased its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 15.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 5,343 shares of the semiconductor company’s stock after purchasing an additional 734 shares during the quarter. Gilbert & Cook Inc.’s holdings in Microchip Technology were worth $306,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in MCHP. NewEdge Advisors LLC increased its stake in Microchip Technology by 12.1% in the 2nd quarter. NewEdge Advisors LLC now owns 25,714 shares of the semiconductor company’s stock worth $2,353,000 after buying an additional 2,777 shares during the period. Cetera Investment Advisers increased its position in shares of Microchip Technology by 4.9% during the second quarter. Cetera Investment Advisers now owns 153,220 shares of the semiconductor company’s stock worth $14,020,000 after acquiring an additional 7,195 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in shares of Microchip Technology during the second quarter valued at approximately $119,000. Sanctuary Advisors LLC purchased a new stake in shares of Microchip Technology in the second quarter valued at approximately $14,243,000. Finally, Heritage Wealth Management Inc. bought a new position in Microchip Technology in the second quarter worth approximately $322,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Down 1.6 %

Shares of NASDAQ MCHP opened at $55.16 on Friday. 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 firm has a market cap of $29.62 billion, a price-to-earnings ratio of 38.57 and a beta of 1.52. The business’s 50 day moving average is $59.77 and its two-hundred day moving average is $71.72. Microchip Technology Incorporated has a 52-week low of $54.18 and a 52-week high of $100.57.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the company posted $1.54 earnings per share. Microchip Technology’s revenue for the quarter was down 48.4% compared to the same quarter last year. Research analysts predict that Microchip Technology Incorporated will post 1.31 EPS for the current year.

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were issued a dividend of $0.455 per share. The ex-dividend date of this dividend was Friday, November 22nd. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a dividend yield of 3.30%. Microchip Technology’s dividend payout ratio (DPR) is currently 127.27%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Mizuho decreased their target price on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. StockNews.com upgraded Microchip Technology from a “sell” rating to a “hold” rating in a report on Friday, December 13th. Jefferies Financial Group dropped their target price on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. 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 report on Wednesday, November 6th. Finally, Citigroup dropped their price objective on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $84.00.

Microchip Technology Company 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.