Microchip Technology Incorporated (NASDAQ:MCHP) Shares Acquired by Enterprise Bank & Trust Co

Enterprise Bank & Trust Co lifted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 12.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,947 shares of the semiconductor company’s stock after acquiring an additional 425 shares during the quarter. Enterprise Bank & Trust Co’s holdings in Microchip Technology were worth $226,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in MCHP. Corundum Group Inc. grew its position in Microchip Technology by 3.4% in the third quarter. Corundum Group Inc. now owns 4,315 shares of the semiconductor company’s stock valued at $346,000 after purchasing an additional 143 shares in the last quarter. Financial Advocates Investment Management grew its position in shares of Microchip Technology by 1.5% in the 3rd quarter. Financial Advocates Investment Management now owns 10,795 shares of the semiconductor company’s stock valued at $867,000 after acquiring an additional 158 shares during the period. Bruce G. Allen Investments LLC grew its position in shares of Microchip Technology by 11.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,578 shares of the semiconductor company’s stock valued at $127,000 after acquiring an additional 162 shares during the period. Metis Global Partners LLC grew its position in shares of Microchip Technology by 1.0% in the 3rd quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company’s stock valued at $1,378,000 after acquiring an additional 172 shares during the period. Finally, Parallel Advisors LLC grew its position in shares of Microchip Technology by 2.9% in the 2nd quarter. Parallel Advisors LLC now owns 6,351 shares of the semiconductor company’s stock valued at $581,000 after acquiring an additional 178 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Stock Up 1.0 %

Shares of MCHP traded up $0.57 during mid-day trading on Monday, reaching $55.76. 3,975,974 shares of the stock traded hands, compared to its average volume of 7,197,011. 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 has a fifty day simple moving average of $62.84 and a 200 day simple moving average of $74.80. The firm has a market cap of $29.94 billion, a price-to-earnings ratio of 38.99 and a beta of 1.52. Microchip Technology Incorporated has a 12-month low of $54.47 and a 12-month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the company posted $1.54 earnings per share. The company’s revenue for the quarter was down 48.4% compared to the same quarter last year. Sell-side analysts expect that Microchip Technology Incorporated will post 1.33 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 3.26%. 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 presently 127.27%.

Analysts Set New Price Targets

MCHP has been the subject of a number of research reports. Rosenblatt Securities restated a “buy” rating and set a $90.00 target price on shares of Microchip Technology in a research note on Wednesday, November 6th. Citigroup dropped their price objective on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. StockNews.com upgraded shares of Microchip Technology from a “sell” rating to a “hold” rating in a research note on Friday, December 13th. Susquehanna dropped their price objective on shares of Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a research note on Wednesday, November 6th. Finally, Bank of America lowered shares of Microchip Technology from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $80.00 to $65.00 in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $87.11.

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.