Microchip Technology Incorporated (NASDAQ:MCHP) Shares Acquired by Fulton Bank N.A.

Fulton Bank N.A. raised its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP – Get Rating) by 11.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,748 shares of the semiconductor company’s stock after buying an additional 491 shares during the quarter. Fulton Bank N.A.’s holdings in Microchip Technology were worth $333,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Microchip Technology in the 3rd quarter valued at $25,000. MV Capital Management Inc. lifted its stake in shares of Microchip Technology by 157.1% in the 3rd quarter. MV Capital Management Inc. now owns 432 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 264 shares during the period. Almanack Investment Partners LLC. acquired a new position in shares of Microchip Technology in the 3rd quarter valued at $29,000. CoreCap Advisors LLC acquired a new position in shares of Microchip Technology in the 2nd quarter valued at $34,000. Finally, FinTrust Capital Advisors LLC lifted its stake in shares of Microchip Technology by 78.1% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 570 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 250 shares during the period. 89.85% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Trading Down 1.9 %

Shares of MCHP opened at $80.71 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 1.04. Microchip Technology Incorporated has a 12-month low of $54.33 and a 12-month high of $87.76. The firm has a 50-day moving average price of $80.21 and a 200 day moving average price of $72.23. The firm has a market capitalization of $44.21 billion, a P/E ratio of 21.87, a P/E/G ratio of 0.83 and a beta of 1.58.

Microchip Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 7th. Investors of record on Tuesday, February 21st were issued a $0.358 dividend. The ex-dividend date was Friday, February 17th. This represents a $1.43 dividend on an annualized basis and a dividend yield of 1.77%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.33. Microchip Technology’s dividend payout ratio is currently 38.75%.

Wall Street Analyst Weigh In

MCHP has been the subject of several analyst reports. B. Riley boosted their target price on shares of Microchip Technology from $86.00 to $106.00 and gave the company a “buy” rating in a research note on Friday, February 3rd. Mizuho boosted their price target on shares of Microchip Technology from $72.00 to $79.00 and gave the stock a “neutral” rating in a report on Friday, February 3rd. Raymond James boosted their price target on shares of Microchip Technology from $90.00 to $105.00 and gave the stock a “strong-buy” rating in a report on Friday, February 3rd. Morgan Stanley boosted their price target on shares of Microchip Technology from $80.00 to $99.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Finally, Stifel Nicolaus boosted their price target on shares of Microchip Technology from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, November 29th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus price target of $90.58.

About Microchip Technology

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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.