Tompkins Financial Corp grew its stake in Microchip Technology Inc. (NASDAQ:MCHP) by 5.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,928 shares of the semiconductor company’s stock after buying an additional 303 shares during the period. Tompkins Financial Corp’s holdings in Microchip Technology were worth $467,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of MCHP. Dodge & Cox acquired a new stake in shares of Microchip Technology in the third quarter valued at about $827,774,000. Norges Bank acquired a new stake in Microchip Technology during the fourth quarter worth approximately $155,541,000. Oregon Public Employees Retirement Fund grew its stake in Microchip Technology by 7,043.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,841,512 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 1,815,732 shares during the period. Partner Fund Management L.P. acquired a new stake in Microchip Technology during the fourth quarter worth approximately $74,257,000. Finally, TD Asset Management Inc. grew its stake in Microchip Technology by 26.5% during the fourth quarter. TD Asset Management Inc. now owns 1,167,775 shares of the semiconductor company’s stock worth $83,986,000 after purchasing an additional 244,680 shares during the period.
Several equities research analysts recently commented on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $115.00 target price on shares of Microchip Technology in a research note on Monday. B. Riley increased their price target on Microchip Technology from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Monday. BidaskClub lowered Microchip Technology from a “buy” rating to a “hold” rating in a report on Wednesday. Needham & Company LLC increased their price target on Microchip Technology from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, February 6th. Finally, Citigroup reiterated a “buy” rating and issued a $105.00 price target on shares of Microchip Technology in a report on Thursday, February 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $104.32.
NASDAQ:MCHP opened at $89.38 on Friday. The company has a debt-to-equity ratio of 2.04, a current ratio of 2.92 and a quick ratio of 1.83. Microchip Technology Inc. has a 1 year low of $60.70 and a 1 year high of $104.20. The firm has a market capitalization of $22.31 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 1.22 and a beta of 1.31.
Microchip Technology (NASDAQ:MCHP) last released its earnings results on Tuesday, May 7th. The semiconductor company reported $1.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.08. Microchip Technology had a return on equity of 32.30% and a net margin of 6.53%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the business posted $1.40 earnings per share. The business’s revenue for the quarter was up 32.6% on a year-over-year basis. On average, equities research analysts predict that Microchip Technology Inc. will post 5.9 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be given a $0.3655 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.37. This represents a $1.46 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Monday, May 20th. Microchip Technology’s dividend payout ratio (DPR) is currently 28.13%.
Microchip Technology Company Profile
Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.
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