Venturi Wealth Management LLC Acquires 442 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Venturi Wealth Management LLC raised its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 5.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,190 shares of the semiconductor company’s stock after acquiring an additional 442 shares during the quarter. Venturi Wealth Management LLC’s holdings in Microchip Technology were worth $658,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MCHP. Pathway Financial Advisers LLC bought a new stake in shares of Microchip Technology during the 1st quarter valued at about $39,000. Versant Capital Management Inc increased its stake in shares of Microchip Technology by 148.8% during the second quarter. Versant Capital Management Inc now owns 530 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 317 shares during the period. TruNorth Capital Management LLC acquired a new position in shares of Microchip Technology in the 2nd quarter valued at $55,000. Wolff Wiese Magana LLC boosted its holdings in Microchip Technology by 55.2% in the third quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 218 shares during the last quarter. Finally, Family Firm Inc. acquired a new position in shares of Microchip Technology in the second quarter worth about $62,000. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Price Performance

Shares of NASDAQ:MCHP opened at $69.88 on Tuesday. Microchip Technology Incorporated has a 12 month low of $69.00 and a 12 month high of $100.57. The stock has a market cap of $37.53 billion, a price-to-earnings ratio of 48.87 and a beta of 1.53. The stock’s 50 day moving average price is $76.73 and its 200 day moving average price is $84.93. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 1.08.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The business’s quarterly revenue was down 48.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.54 earnings per share. Equities research analysts anticipate that Microchip Technology Incorporated will post 1.69 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be given a $0.455 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 2.60%. Microchip Technology’s dividend payout ratio is presently 127.27%.

Analyst Ratings Changes

A number of research firms recently weighed in on MCHP. JPMorgan Chase & Co. lowered their price target on shares of Microchip Technology from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. KeyCorp lowered their price objective on shares of Microchip Technology from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. Needham & Company LLC decreased their price target on shares of Microchip Technology from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Jefferies Financial Group lowered their price target on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, B. Riley decreased their target price on Microchip Technology from $110.00 to $103.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $92.00.

Insider Buying and Selling

In related news, CFO James Eric Bjornholt sold 2,154 shares of Microchip Technology stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $81.50, for a total value of $175,551.00. Following the completion of the sale, the chief financial officer now owns 33,257 shares of the company’s stock, valued at approximately $2,710,445.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.10% of the stock is owned by corporate insiders.

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.