Fort Washington Investment Advisors Inc. OH Buys 340,100 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 134.5% during the 4th quarter, HoldingsChannel reports. The firm owned 593,047 shares of the semiconductor company’s stock after acquiring an additional 340,100 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Microchip Technology were worth $34,011,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MCHP. Corundum Group Inc. grew its holdings in shares of Microchip Technology by 3.4% during the third quarter. Corundum Group Inc. now owns 4,315 shares of the semiconductor company’s stock worth $346,000 after purchasing an additional 143 shares during the last quarter. Financial Advocates Investment Management grew its holdings 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 acquiring an additional 158 shares during the last quarter. Bruce G. Allen Investments LLC increased its position in Microchip Technology by 11.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,578 shares of the semiconductor company’s stock valued at $127,000 after acquiring an additional 162 shares during the period. Metis Global Partners LLC raised its stake in shares of Microchip Technology by 1.0% during the third quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company’s stock valued at $1,378,000 after acquiring an additional 172 shares during the last quarter. Finally, Americana Partners LLC lifted its holdings in shares of Microchip Technology by 5.5% during the third quarter. Americana Partners LLC now owns 3,441 shares of the semiconductor company’s stock worth $276,000 after purchasing an additional 179 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on MCHP shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $90.00 target price on shares of Microchip Technology in a research report on Wednesday, November 6th. Stifel Nicolaus lowered their price objective on Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, December 3rd. Susquehanna cut their price objective on Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, November 6th. Mizuho decreased their target price on shares of Microchip Technology from $85.00 to $72.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Finally, Needham & Company LLC restated a “buy” rating and issued a $85.00 price target on shares of Microchip Technology in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average price target of $85.00.

Microchip Technology Stock Performance

Shares of MCHP opened at $58.51 on Wednesday. Microchip Technology Incorporated has a one year low of $54.47 and a one year high of $100.57. The company has a market cap of $31.42 billion, a PE ratio of 40.92 and a beta of 1.52. The stock has a 50-day moving average of $60.87 and a 200-day moving average of $73.32. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the firm posted $1.54 earnings per share. The company’s revenue for the quarter was down 48.4% compared to the same quarter last year. On average, equities research analysts predict that Microchip Technology Incorporated will post 1.31 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently disclosed 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 is an increase from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date was Friday, November 22nd. This represents a $1.82 annualized dividend and a yield of 3.11%. Microchip Technology’s dividend 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.