B.O.S.S. Retirement Advisors LLC Acquires New Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

B.O.S.S. Retirement Advisors LLC bought a new position in Microchip Technology Incorporated (NASDAQ:MCHP) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 4,170 shares of the semiconductor company’s stock, valued at approximately $239,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Prospera Private Wealth LLC acquired a new position in Microchip Technology in the third quarter valued at about $29,000. Peterson Financial Group Inc. bought a new stake in shares of Microchip Technology during the third quarter worth $34,000. Truvestments Capital LLC acquired a new stake in shares of Microchip Technology during the third quarter worth $34,000. Wolff Wiese Magana LLC lifted its position in Microchip Technology by 55.2% in the 3rd quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock valued at $49,000 after acquiring an additional 218 shares in the last quarter. Finally, Hobbs Group Advisors LLC boosted its stake in Microchip Technology by 390.6% in the 3rd quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 500 shares during the period. 91.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MCHP. The Goldman Sachs Group cut their price target on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Susquehanna reduced their price target on Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, November 6th. StockNews.com raised shares of Microchip Technology from a “sell” rating to a “hold” rating in a research report on Friday, December 13th. Citigroup decreased their target price on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, Piper Sandler cut their price target on shares of Microchip Technology from $100.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Microchip Technology currently has an average rating of “Moderate Buy” and an average price target of $84.00.

Microchip Technology Stock Performance

NASDAQ MCHP opened at $56.39 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71. Microchip Technology Incorporated has a 1 year low of $54.47 and a 1 year high of $100.57. The firm has a market capitalization of $30.28 billion, a price-to-earnings ratio of 39.43 and a beta of 1.52. The firm’s 50 day simple moving average is $60.28 and its 200 day simple moving average is $72.63.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results 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 firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the firm posted $1.54 earnings per share. The business’s revenue for the quarter was down 48.4% on a year-over-year basis. As a group, research analysts expect that Microchip Technology Incorporated will post 1.31 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 3.23%. 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. Microchip Technology’s dividend payout ratio (DPR) is currently 127.27%.

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.