Evermay Wealth Management LLC Has $188,000 Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Evermay Wealth Management LLC decreased its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 17.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,286 shares of the semiconductor company’s stock after selling 700 shares during the period. Evermay Wealth Management LLC’s holdings in Microchip Technology were worth $188,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Corundum Group Inc. lifted its stake 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 buying an additional 143 shares in the last quarter. Financial Advocates Investment Management boosted its stake in Microchip Technology by 1.5% in the 3rd quarter. Financial Advocates Investment Management now owns 10,795 shares of the semiconductor company’s stock worth $867,000 after purchasing an additional 158 shares during the period. Bruce G. Allen Investments LLC increased its holdings in Microchip Technology by 11.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,578 shares of the semiconductor company’s stock worth $127,000 after purchasing an additional 162 shares in the last quarter. Metis Global Partners LLC raised its stake 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 purchasing an additional 172 shares during the period. Finally, Americana Partners LLC lifted its holdings in shares of Microchip Technology by 5.5% in the third quarter. Americana Partners LLC now owns 3,441 shares of the semiconductor company’s stock valued at $276,000 after purchasing an additional 179 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MCHP shares. Jefferies Financial Group decreased their target price on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. The Goldman Sachs Group lowered their target price on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Piper Sandler reduced their price target on Microchip Technology from $100.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th. Susquehanna lowered their price target on Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a research report on Wednesday, November 6th. Finally, TD Cowen cut their price objective on Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and a consensus price target of $84.00.

Microchip Technology Trading Down 1.6 %

Shares of MCHP opened at $54.30 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88. Microchip Technology Incorporated has a 52-week low of $53.98 and a 52-week high of $100.57. The firm has a market cap of $29.16 billion, a price-to-earnings ratio of 37.97 and a beta of 1.52. The business’s fifty day moving average is $59.29 and its 200-day moving average is $71.34.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The firm’s quarterly revenue was down 48.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.54 EPS. Equities analysts anticipate that Microchip Technology Incorporated will post 1.31 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 3.35%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date was Friday, November 22nd. Microchip Technology’s payout ratio is presently 127.27%.

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.