Menard Financial Group LLC Purchases Shares of 3,563 Microchip Technology Incorporated (NASDAQ:MCHP)

Menard Financial Group LLC acquired a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,563 shares of the semiconductor company’s stock, valued at approximately $286,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Prospera Private Wealth LLC acquired a new stake in shares of Microchip Technology in the 3rd quarter valued at $29,000. Peterson Financial Group Inc. acquired a new position in shares of Microchip Technology during the third quarter valued at $34,000. Truvestments Capital LLC acquired a new position in Microchip Technology during the 3rd quarter valued at about $34,000. TruNorth Capital Management LLC bought a new position in shares of Microchip Technology in the 2nd quarter worth $55,000. Finally, Wolff Wiese Magana LLC grew its position in shares of Microchip Technology by 55.2% during the 3rd quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock worth $49,000 after buying an additional 218 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MCHP. Needham & Company LLC reissued a “buy” rating and set a $85.00 target price on shares of Microchip Technology in a research note on Tuesday. Jefferies Financial Group lowered their target price on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Evercore ISI reaffirmed an “outperform” rating and issued a $95.00 price objective (down from $101.00) on shares of Microchip Technology in a research report on Wednesday, November 6th. Susquehanna decreased their price target on shares of Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, November 6th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $90.00 price target on shares of Microchip Technology in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $90.95.

Microchip Technology Stock Down 7.0 %

Shares of MCHP opened at $65.39 on Wednesday. The company has a market capitalization of $35.12 billion, a PE ratio of 45.73 and a beta of 1.50. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71. Microchip Technology Incorporated has a 12-month low of $62.63 and a 12-month high of $100.57. The business’s 50 day moving average is $73.33 and its 200 day moving average is $81.88.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. Microchip Technology’s quarterly revenue was down 48.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.54 earnings per share. Research analysts expect that Microchip Technology Incorporated will post 1.38 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be paid a dividend of $0.455 per share. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, November 22nd. Microchip Technology’s dividend payout ratio (DPR) is currently 127.27%.

Microchip Technology 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.