Level Four Advisory Services LLC Buys 3,977 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Level Four Advisory Services LLC increased its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 6.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 67,598 shares of the semiconductor company’s stock after acquiring an additional 3,977 shares during the period. Level Four Advisory Services LLC’s holdings in Microchip Technology were worth $3,877,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Pictet Asset Management Holding SA raised its stake in shares of Microchip Technology by 62.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,575,544 shares of the semiconductor company’s stock worth $205,057,000 after purchasing an additional 1,368,322 shares in the last quarter. Broadway Wealth Solutions Inc. bought a new stake in Microchip Technology in the fourth quarter valued at approximately $364,000. Providence Capital Advisors LLC lifted its position in shares of Microchip Technology by 28.1% in the fourth quarter. Providence Capital Advisors LLC now owns 78,400 shares of the semiconductor company’s stock valued at $4,496,000 after buying an additional 17,200 shares during the last quarter. Norges Bank bought a new position in shares of Microchip Technology during the 4th quarter worth approximately $452,627,000. Finally, LM Advisors LLC acquired a new position in shares of Microchip Technology during the 4th quarter worth approximately $651,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Stock Down 4.1 %

Shares of NASDAQ MCHP opened at $48.70 on Friday. The company has a market cap of $26.19 billion, a price-to-earnings ratio of 86.96 and a beta of 1.52. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. Microchip Technology Incorporated has a 12 month low of $48.27 and a 12 month high of $100.57. The stock has a 50-day moving average price of $55.65 and a two-hundred day moving average price of $63.98.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. As a group, analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology’s payout ratio is 325.00%.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the completion of the transaction, the chief financial officer now owns 33,272 shares in the company, valued at $2,025,599.36. This trade represents a 10.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Needham & Company LLC raised their price target on Microchip Technology from $60.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Stifel Nicolaus lowered their target price on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. TD Cowen boosted their price target on Microchip Technology from $50.00 to $60.00 and gave the company a “hold” rating in a research note on Tuesday, March 4th. Bank of America downgraded Microchip Technology from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $80.00 to $65.00 in a research report on Monday, December 16th. Finally, KeyCorp cut their target price on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Microchip Technology currently has a consensus rating of “Moderate Buy” and an average target price of $74.37.

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.