CreativeOne Wealth LLC Boosts Position in Microchip Technology Incorporated (NASDAQ:MCHP)

CreativeOne Wealth LLC boosted its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP – Get Rating) by 3.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,509 shares of the semiconductor company’s stock after buying an additional 716 shares during the quarter. CreativeOne Wealth LLC’s holdings in Microchip Technology were worth $1,496,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Boston Partners increased its holdings in shares of Microchip Technology by 17.2% during the 3rd quarter. Boston Partners now owns 7,665,626 shares of the semiconductor company’s stock valued at $467,751,000 after purchasing an additional 1,123,669 shares in the last quarter. Prudential Financial Inc. increased its holdings in shares of Microchip Technology by 98.5% during the 1st quarter. Prudential Financial Inc. now owns 2,056,405 shares of the semiconductor company’s stock valued at $154,518,000 after purchasing an additional 1,020,624 shares in the last quarter. Coho Partners Ltd. increased its holdings in shares of Microchip Technology by 21.7% during the 3rd quarter. Coho Partners Ltd. now owns 3,720,877 shares of the semiconductor company’s stock valued at $227,085,000 after purchasing an additional 664,472 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Microchip Technology during the 3rd quarter valued at approximately $35,477,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Microchip Technology by 101.4% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,100,700 shares of the semiconductor company’s stock valued at $63,929,000 after purchasing an additional 554,304 shares in the last quarter. 89.85% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Trading Up 2.4 %

Shares of MCHP opened at $83.24 on Wednesday. Microchip Technology Incorporated has a 52-week low of $54.33 and a 52-week high of $87.76. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 1.04. The firm’s fifty day moving average is $79.59 and its two-hundred day moving average is $71.94. The stock has a market cap of $45.60 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 0.84 and a beta of 1.58.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 7th. Shareholders of record on Tuesday, February 21st were paid a dividend of $0.358 per share. This represents a $1.43 annualized dividend and a yield of 1.72%. The ex-dividend date was Friday, February 17th. This is a boost from Microchip Technology’s previous quarterly dividend of $0.33. Microchip Technology’s payout ratio is 38.75%.

Wall Street Analyst Weigh In

MCHP has been the subject of several recent research reports. Raymond James lifted their target price on shares of Microchip Technology from $90.00 to $105.00 and gave the company a “strong-buy” rating in a report on Friday, February 3rd. Needham & Company LLC reissued a “buy” rating and issued a $110.00 price target on shares of Microchip Technology in a research note on Wednesday, March 8th. Truist Financial lifted their price target on shares of Microchip Technology from $85.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, February 3rd. Mizuho lifted their price target on shares of Microchip Technology from $72.00 to $79.00 and gave the company a “neutral” rating in a research note on Friday, February 3rd. Finally, Citigroup lifted their price target on shares of Microchip Technology from $74.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, February 3rd. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $90.58.

Microchip Technology Company Profile

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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.