Cascade Investment Advisors Inc. Purchases 1,505 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Cascade Investment Advisors Inc. lifted its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 6.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 25,555 shares of the semiconductor company’s stock after buying an additional 1,505 shares during the period. Cascade Investment Advisors Inc.’s holdings in Microchip Technology were worth $1,466,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new position in Microchip Technology in the third quarter valued at approximately $29,000. Peterson Financial Group Inc. bought a new stake in shares of Microchip Technology in the third quarter valued at about $34,000. Truvestments Capital LLC acquired a new position in shares of Microchip Technology during the third quarter worth about $34,000. Wolff Wiese Magana LLC grew its holdings in shares of Microchip Technology by 55.2% during the third quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock worth $49,000 after buying an additional 218 shares in the last quarter. Finally, Hobbs Group Advisors LLC lifted its position in shares of Microchip Technology by 390.6% in the third quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Trading Up 1.3 %

Shares of MCHP stock opened at $57.12 on Tuesday. The stock has a market cap of $30.68 billion, a P/E ratio of 39.95 and a beta of 1.52. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71. The stock has a 50 day simple moving average of $60.28 and a 200 day simple moving average of $72.33. Microchip Technology Incorporated has a 1 year low of $54.47 and a 1 year high of $100.57.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results 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 company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. Microchip Technology’s revenue was down 48.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.54 EPS. On average, research analysts predict that Microchip Technology Incorporated will post 1.31 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors 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 of this dividend was Friday, November 22nd. This represents a $1.82 annualized dividend and a dividend yield of 3.19%. Microchip Technology’s dividend payout ratio (DPR) is 127.27%.

Analyst Ratings Changes

A number of equities analysts have recently commented on MCHP shares. Needham & Company LLC restated a “buy” rating and set a $85.00 price objective on shares of Microchip Technology in a research note on Tuesday, December 3rd. StockNews.com raised Microchip Technology from a “sell” rating to a “hold” rating in a research report on Friday, December 13th. Stifel Nicolaus cut their price objective on Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Rosenblatt Securities restated a “buy” rating and set a $90.00 target price on shares of Microchip Technology in a report on Wednesday, November 6th. Finally, Citigroup cut their price target on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Microchip Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.00.

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.