Captrust Financial Advisors Has $12.95 Million Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Captrust Financial Advisors lowered its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 0.6% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 161,326 shares of the semiconductor company’s stock after selling 1,019 shares during the quarter. Captrust Financial Advisors’ holdings in Microchip Technology were worth $12,953,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Microchip Technology by 2,390.5% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,291,290 shares of the semiconductor company’s stock worth $209,653,000 after purchasing an additional 2,199,290 shares in the last quarter. Van ECK Associates Corp raised its position in shares of 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 in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Microchip Technology by 78.3% in the second quarter. The Manufacturers Life Insurance Company now owns 2,189,390 shares of the semiconductor company’s stock valued at $200,329,000 after buying an additional 961,801 shares during the period. National Bank of Canada FI grew its position in Microchip Technology by 234.1% during the second quarter. National Bank of Canada FI now owns 899,561 shares of the semiconductor company’s stock worth $82,391,000 after buying an additional 630,285 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Microchip Technology by 21.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,298,771 shares of the semiconductor company’s stock worth $301,797,000 after acquiring an additional 575,087 shares during the period. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Up 0.4 %

NASDAQ:MCHP opened at $68.17 on Monday. 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 one year low of $62.63 and a one year high of $100.57. The firm’s 50 day simple moving average is $73.71 and its 200 day simple moving average is $82.25. The company has a market cap of $36.61 billion, a PE ratio of 47.67 and a beta of 1.53.

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

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be paid a $0.455 dividend. This is a positive change 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 2.67%. The ex-dividend date of this dividend is Friday, November 22nd. Microchip Technology’s payout ratio is currently 127.27%.

Analysts Set New Price Targets

MCHP has been the subject of a number of recent analyst reports. Evercore ISI reiterated an “outperform” rating and set a $95.00 target price (down from $101.00) on shares of Microchip Technology in a research report on Wednesday, November 6th. TD Cowen reduced their price objective on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Piper Sandler dropped their target price 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. KeyCorp reduced their price target on shares of Microchip Technology from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. Finally, Rosenblatt Securities restated a “buy” rating and set a $90.00 price objective on shares of Microchip Technology in a research report on Wednesday, November 6th. 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 stock. According to MarketBeat.com, Microchip Technology currently has a consensus rating of “Moderate Buy” and an average price target 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.