Fort Washington Investment Advisors Inc. OH Has $34.01 Million Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Fort Washington Investment Advisors Inc. OH boosted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 134.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 593,047 shares of the semiconductor company’s stock after purchasing an additional 340,100 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned 0.11% of Microchip Technology worth $34,011,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Corundum Group Inc. boosted its holdings in shares of 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. Financial Advocates Investment Management lifted its stake in Microchip Technology by 1.5% in the third quarter. Financial Advocates Investment Management now owns 10,795 shares of the semiconductor company’s stock valued at $867,000 after acquiring an additional 158 shares during the last quarter. Bruce G. Allen Investments LLC grew its position in shares of 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 increased its stake in shares of Microchip Technology by 1.0% during the 3rd quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company’s stock worth $1,378,000 after purchasing an additional 172 shares during the last quarter. Finally, Americana Partners LLC raised its holdings in shares of Microchip Technology by 5.5% in the 3rd quarter. Americana Partners LLC now owns 3,441 shares of the semiconductor company’s stock valued at $276,000 after purchasing an additional 179 shares during the period. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Performance

MCHP opened at $58.51 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88. Microchip Technology Incorporated has a 52-week low of $54.47 and a 52-week high of $100.57. The firm has a market cap of $31.42 billion, a P/E ratio of 40.92 and a beta of 1.52. The business’s fifty day moving average is $60.87 and its 200-day moving average is $73.32.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (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 the consensus estimate of $1.15 billion. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The business’s revenue for the quarter was down 48.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.54 earnings per share. Sell-side analysts expect that Microchip Technology Incorporated will post 1.31 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were given a dividend of $0.455 per share. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a yield of 3.11%. The ex-dividend date was Friday, November 22nd. Microchip Technology’s payout ratio is currently 127.27%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Susquehanna reduced their price target on Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, November 6th. Mizuho decreased their target price on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Jefferies Financial Group cut their price target on Microchip Technology from $100.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Bank of America cut shares of Microchip Technology from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $80.00 to $65.00 in a research report on Monday, December 16th. Finally, TD Cowen cut their target price on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Microchip Technology has an average rating of “Moderate Buy” and a consensus price target of $85.00.

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.