Modera Wealth Management LLC Buys 452 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Modera Wealth Management LLC boosted its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 12.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,153 shares of the semiconductor company’s stock after acquiring an additional 452 shares during the quarter. Modera Wealth Management LLC’s holdings in Microchip Technology were worth $238,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Pallas Capital Advisors LLC bought a new stake in shares of Microchip Technology in the 4th quarter worth approximately $5,917,000. Consolidated Planning Corp purchased a new position in Microchip Technology in the 4th quarter worth $308,000. Quadrature Capital Ltd bought a new stake in Microchip Technology in the third quarter worth $3,312,000. Symphony Financial Ltd. Co. purchased a new stake in Microchip Technology during the fourth quarter valued at about $520,000. Finally, Benjamin Edwards Inc. grew its stake in shares of Microchip Technology by 5,185.4% during the third quarter. Benjamin Edwards Inc. now owns 9,408 shares of the semiconductor company’s stock valued at $755,000 after buying an additional 9,230 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MCHP shares. Bank of America lowered Microchip Technology from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $80.00 to $65.00 in a research note on Monday, December 16th. Jefferies Financial Group lowered their price objective on Microchip Technology from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Evercore ISI raised their target price on shares of Microchip Technology from $65.00 to $71.00 and gave the stock an “outperform” rating in a report on Tuesday. Citigroup lowered their price target on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Needham & Company LLC increased their price target on shares of Microchip Technology from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.37.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the sale, the chief financial officer now directly owns 33,272 shares of the company’s stock, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.10% of the company’s stock.

Microchip Technology Stock Up 2.6 %

Shares of NASDAQ:MCHP opened at $59.64 on Thursday. The firm has a market capitalization of $32.08 billion, a P/E ratio of 106.50 and a beta of 1.52. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. The stock has a 50 day moving average price of $56.95 and a 200-day moving average price of $66.99. Microchip Technology Incorporated has a 52-week low of $50.21 and a 52-week high of $100.57.

Microchip Technology (NASDAQ:MCHP) last posted 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, equities research analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 3.05%. The ex-dividend date is Monday, February 24th. Microchip Technology’s payout ratio is currently 325.00%.

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.