Naples Global Advisors LLC Increases Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Naples Global Advisors LLC increased its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 79,495 shares of the semiconductor company’s stock after buying an additional 2,426 shares during the quarter. Naples Global Advisors LLC’s holdings in Microchip Technology were worth $4,559,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Corundum Group Inc. increased its position in shares of Microchip Technology by 3.4% in the third quarter. Corundum Group Inc. now owns 4,315 shares of the semiconductor company’s stock worth $346,000 after acquiring an additional 143 shares in the last quarter. Financial Advocates Investment Management grew its position in Microchip Technology by 1.5% during 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 in the last quarter. Metis Global Partners LLC grew its position in Microchip Technology by 1.0% during the 3rd quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company’s stock worth $1,378,000 after purchasing an additional 172 shares in the last quarter. Americana Partners LLC raised its stake in Microchip Technology by 5.5% during the 3rd 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 during the period. Finally, Plato Investment Management Ltd lifted its holdings in shares of Microchip Technology by 5.8% in the third quarter. Plato Investment Management Ltd now owns 3,499 shares of the semiconductor company’s stock valued at $281,000 after purchasing an additional 191 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Citigroup dropped their price target on Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. B. Riley reissued a “buy” rating and issued a $75.00 price target (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Jefferies Financial Group lowered their price objective on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Stifel Nicolaus cut their target price on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, December 3rd. Finally, Mizuho dropped their target price on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Microchip Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.11.

Microchip Technology Price Performance

Shares of MCHP stock opened at $53.85 on Thursday. The company has a market capitalization of $28.92 billion, a P/E ratio of 96.16 and a beta of 1.50. 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 12 month low of $50.21 and a 12 month high of $100.57. The stock has a 50 day moving average of $57.09 and a two-hundred day moving average of $69.25.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.41% and a net margin of 6.49%. As a group, equities analysts expect that Microchip Technology Incorporated will post 1.3 EPS for the current year.

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be given a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is presently 325.00%.

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.