West Oak Capital LLC Purchases 1,625 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

West Oak Capital LLC grew its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 406.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,025 shares of the semiconductor company’s stock after purchasing an additional 1,625 shares during the quarter. West Oak Capital LLC’s holdings in Microchip Technology were worth $116,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MCHP. Corundum Group Inc. grew its holdings in shares of Microchip Technology by 3.4% in the third quarter. Corundum Group Inc. now owns 4,315 shares of the semiconductor company’s stock valued at $346,000 after purchasing an additional 143 shares during the period. Financial Advocates Investment Management grew its position 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 worth $867,000 after acquiring an additional 158 shares during the period. Bruce G. Allen Investments LLC increased its stake in Microchip Technology by 11.4% during the third quarter. Bruce G. Allen Investments LLC now owns 1,578 shares of the semiconductor company’s stock worth $127,000 after acquiring an additional 162 shares during the last quarter. Metis Global Partners LLC raised its position in Microchip Technology by 1.0% in the third quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company’s stock valued at $1,378,000 after purchasing an additional 172 shares during the period. Finally, Parallel Advisors LLC grew its holdings in shares of Microchip Technology by 2.9% during the 2nd quarter. Parallel Advisors LLC now owns 6,351 shares of the semiconductor company’s stock worth $581,000 after purchasing an additional 178 shares during the period. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on MCHP. Piper Sandler decreased their target price on shares of Microchip Technology from $100.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. Mizuho lowered their price objective on shares of Microchip Technology from $85.00 to $72.00 and set an “outperform” rating for the company in a research report on Friday. The Goldman Sachs Group dropped their price objective on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a research note on Friday. StockNews.com raised Microchip Technology from a “sell” rating to a “hold” rating in a research note on Friday, December 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $85.00 target price on shares of Microchip Technology in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.11.

Microchip Technology Price Performance

NASDAQ MCHP traded down $1.19 during trading hours on Friday, reaching $55.19. The company’s stock had a trading volume of 7,632,827 shares, compared to its average volume of 7,771,687. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88. The company’s 50-day moving average is $63.23 and its two-hundred day moving average is $75.24. Microchip Technology Incorporated has a fifty-two week low of $54.47 and a fifty-two week high of $100.57. The stock has a market cap of $29.64 billion, a PE ratio of 38.59 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last released its quarterly 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. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the business earned $1.54 earnings per share. The company’s quarterly revenue was down 48.4% on a year-over-year basis. Analysts forecast that Microchip Technology Incorporated will post 1.33 EPS for the current year.

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend was Friday, November 22nd. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio (DPR) is currently 127.27%.

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.