Commonwealth Equity Services LLC boosted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP – Get Rating) by 3.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 85,695 shares of the semiconductor company’s stock after purchasing an additional 2,931 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Microchip Technology were worth $5,230,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of MCHP. Carl P. Sherr & Co. LLC lifted its position in shares of Microchip Technology by 1.2% in the third quarter. Carl P. Sherr & Co. LLC now owns 12,299 shares of the semiconductor company’s stock valued at $751,000 after acquiring an additional 140 shares in the last quarter. Transamerica Financial Advisors Inc. lifted its position in shares of Microchip Technology by 8.7% in the third quarter. Transamerica Financial Advisors Inc. now owns 1,819 shares of the semiconductor company’s stock valued at $111,000 after acquiring an additional 145 shares in the last quarter. Kinneret Advisory LLC lifted its position in shares of Microchip Technology by 2.3% in the first quarter. Kinneret Advisory LLC now owns 7,495 shares of the semiconductor company’s stock valued at $563,000 after acquiring an additional 167 shares in the last quarter. First Commonwealth Financial Corp PA lifted its position in shares of Microchip Technology by 2.1% in the third quarter. First Commonwealth Financial Corp PA now owns 8,334 shares of the semiconductor company’s stock valued at $509,000 after acquiring an additional 174 shares in the last quarter. Finally, AdvisorNet Financial Inc lifted its position in shares of Microchip Technology by 28.2% in the third quarter. AdvisorNet Financial Inc now owns 840 shares of the semiconductor company’s stock valued at $51,000 after acquiring an additional 185 shares in the last quarter. 89.85% of the stock is currently owned by hedge funds and other institutional investors.
Microchip Technology Price Performance
MCHP stock opened at $82.11 on Wednesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.04 and a current ratio of 1.76. Microchip Technology Incorporated has a 1 year low of $54.33 and a 1 year high of $87.76. The firm has a market cap of $44.98 billion, a P/E ratio of 22.25, a price-to-earnings-growth ratio of 0.85 and a beta of 1.58. The stock has a 50-day simple moving average of $78.27 and a 200-day simple moving average of $71.43.
Microchip Technology Increases Dividend
Wall Street Analyst Weigh In
Several research firms recently weighed in on MCHP. Wells Fargo & Company increased their target price on Microchip Technology from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, February 3rd. Citigroup increased their target price on Microchip Technology from $74.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, February 3rd. B. Riley increased their target price on Microchip Technology from $86.00 to $106.00 and gave the stock a “buy” rating in a research report on Friday, February 3rd. Susquehanna increased their target price on Microchip Technology from $85.00 to $100.00 and gave the stock a “positive” rating in a research report on Friday, February 3rd. Finally, Truist Financial increased their target price on Microchip Technology from $85.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, February 3rd. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $90.58.
Microchip Technology Profile
Microchip Technology, Inc engages in the provision of semiconductor products. It operates through the Semiconductor Products and Technology Licensing segments. The Semiconductor Products segment is involved in designing, developing, manufacturing, and marketing microcontrollers, development tools and analog, interface, mixed signal, connectivity devices, and timing products.
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