D.A. Davidson & CO. Has $1.20 Million Position in Microchip Technology Incorporated (NASDAQ:MCHP)

D.A. Davidson & CO. cut its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 4.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 14,888 shares of the semiconductor company’s stock after selling 683 shares during the quarter. D.A. Davidson & CO.’s holdings in Microchip Technology were worth $1,195,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. SeaCrest Wealth Management LLC raised its stake in shares of Microchip Technology by 3.3% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 4,147 shares of the semiconductor company’s stock valued at $379,000 after purchasing an additional 131 shares during the period. Corundum Group Inc. raised its position in Microchip Technology by 3.4% in the 3rd 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 during the last quarter. Commerzbank Aktiengesellschaft FI lifted its stake in Microchip Technology by 4.5% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 3,470 shares of the semiconductor company’s stock valued at $318,000 after acquiring an additional 148 shares in the last quarter. Busey Bank boosted its position in Microchip Technology by 2.6% during the 2nd quarter. Busey Bank now owns 6,006 shares of the semiconductor company’s stock worth $550,000 after acquiring an additional 155 shares during the last quarter. Finally, Financial Advocates Investment Management grew its stake in shares of 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 in the last quarter. 91.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MCHP. Needham & Company LLC reduced their target price on shares of Microchip Technology from $96.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Jefferies Financial Group decreased their price objective on Microchip Technology from $100.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Piper Sandler dropped their target price on Microchip Technology from $100.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. TD Cowen decreased their price target on Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Finally, Citigroup dropped their price objective on Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Microchip Technology has a consensus rating of “Moderate Buy” and an average price target of $92.00.

Microchip Technology Stock Up 0.4 %

Shares of MCHP opened at $68.17 on Monday. 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 $62.63 and a 12 month high of $100.57. The firm’s 50 day moving average is $73.71 and its 200-day moving average is $82.25. The stock has a market capitalization of $36.61 billion, a PE ratio of 47.67 and a beta of 1.53.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. The company’s revenue was down 48.4% on a year-over-year basis. During the same quarter last year, the company earned $1.54 EPS. Equities research analysts forecast that Microchip Technology Incorporated will post 1.38 EPS for the current year.

Microchip Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 2.67%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, November 22nd. Microchip Technology’s dividend payout ratio is presently 127.27%.

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.