Fulton Bank N.A. Buys 491 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Fulton Bank N.A. grew its holdings in Microchip Technology Incorporated (NASDAQ:MCHP – Get Rating) by 11.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,748 shares of the semiconductor company’s stock after acquiring an additional 491 shares during the period. Fulton Bank N.A.’s holdings in Microchip Technology were worth $333,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Householder Group Estate & Retirement Specialist LLC bought a new position in Microchip Technology in the third quarter worth approximately $25,000. MV Capital Management Inc. raised its position in Microchip Technology by 157.1% in the third quarter. MV Capital Management Inc. now owns 432 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 264 shares during the period. Almanack Investment Partners LLC. bought a new position in Microchip Technology in the third quarter worth approximately $29,000. CoreCap Advisors LLC bought a new position in Microchip Technology in the second quarter worth approximately $34,000. Finally, FinTrust Capital Advisors LLC raised its position in Microchip Technology by 78.1% in the third quarter. FinTrust Capital Advisors LLC now owns 570 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 250 shares during the period. 89.85% of the stock is currently owned by institutional investors.

Microchip Technology Price Performance

MCHP stock opened at $80.71 on Friday. 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 company has a fifty day simple moving average of $80.21 and a two-hundred day simple moving average of $72.23. The firm has a market capitalization of $44.21 billion, a P/E ratio of 21.87, a price-to-earnings-growth ratio of 0.83 and a beta of 1.58.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 7th. Shareholders of record on Tuesday, February 21st were given a dividend of $0.358 per share. The ex-dividend date was Friday, February 17th. This represents a $1.43 annualized dividend and a 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 (DPR) is 38.75%.

Analysts Set New Price Targets

Several research firms have weighed in on MCHP. Morgan Stanley increased their price target on shares of Microchip Technology from $80.00 to $99.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Needham & Company LLC reissued a “buy” rating and issued a $110.00 price objective on shares of Microchip Technology in a research note on Wednesday, March 8th. B. Riley increased their price objective on shares of Microchip Technology from $86.00 to $106.00 and gave the stock a “buy” rating in a research note on Friday, February 3rd. Raymond James increased their price objective on shares of Microchip Technology from $90.00 to $105.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 3rd. Finally, Mizuho increased their price objective on shares of Microchip Technology from $72.00 to $79.00 and gave the stock a “neutral” rating in a research note on Friday, February 3rd. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and an average target price 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.