500 Shares in Microchip Technology Incorporated (NASDAQ:MCHP) Acquired by Bfsg LLC

Bfsg LLC purchased a new position in Microchip Technology Incorporated (NASDAQ:MCHP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 500 shares of the semiconductor company’s stock, valued at approximately $45,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC raised its stake in shares of Microchip Technology by 3.4% in the third quarter. DAVENPORT & Co LLC now owns 14,226 shares of the semiconductor company’s stock valued at $1,110,000 after acquiring an additional 464 shares during the period. Private Trust Co. NA boosted its position in shares of Microchip Technology by 2.8% in the 3rd quarter. Private Trust Co. NA now owns 5,675 shares of the semiconductor company’s stock worth $443,000 after purchasing an additional 157 shares in the last quarter. Czech National Bank raised its position in shares of Microchip Technology by 46.7% in the 3rd quarter. Czech National Bank now owns 95,139 shares of the semiconductor company’s stock valued at $7,426,000 after purchasing an additional 30,291 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Microchip Technology by 2.2% during the third quarter. Handelsbanken Fonder AB now owns 207,377 shares of the semiconductor company’s stock valued at $16,186,000 after buying an additional 4,553 shares during the last quarter. Finally, Ballentine Partners LLC increased its holdings in shares of Microchip Technology by 10.4% in the third quarter. Ballentine Partners LLC now owns 3,348 shares of the semiconductor company’s stock valued at $261,000 after purchasing an additional 316 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Stock Performance

Microchip Technology stock opened at $91.55 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 0.98. Microchip Technology Incorporated has a fifty-two week low of $68.75 and a fifty-two week high of $94.30. The stock has a fifty day moving average of $87.00 and a two-hundred day moving average of $84.55. The company has a market capitalization of $49.47 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 2.77 and a beta of 1.65.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.04. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the company posted $1.48 EPS. The firm’s revenue for the quarter was down 18.6% on a year-over-year basis. On average, analysts anticipate that Microchip Technology Incorporated will post 4.64 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were issued a dividend of $0.45 per share. This is a boost from Microchip Technology’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 22nd. This represents a $1.80 annualized dividend and a dividend yield of 1.97%. Microchip Technology’s dividend payout ratio (DPR) is 42.06%.

Insider Buying and Selling

In related news, Director Karlton D. Johnson sold 370 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total transaction of $31,080.00. Following the completion of the transaction, the director now owns 1,789 shares of the company’s stock, valued at $150,276. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Microchip Technology news, CFO James Eric Bjornholt sold 1,970 shares of Microchip Technology stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $83.90, for a total transaction of $165,283.00. Following the transaction, the chief financial officer now directly owns 32,893 shares of the company’s stock, valued at $2,759,722.70. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Karlton D. Johnson sold 370 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total transaction of $31,080.00. Following the completion of the sale, the director now directly owns 1,789 shares of the company’s stock, valued at approximately $150,276. The disclosure for this sale can be found here. 2.07% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MCHP shares. StockNews.com downgraded shares of Microchip Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 29th. Wolfe Research upgraded shares of Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 price objective for the company in a research report on Thursday, January 18th. Needham & Company LLC raised their price objective on Microchip Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Rosenblatt Securities restated a “buy” rating and set a $100.00 price target on shares of Microchip Technology in a research report on Tuesday, January 30th. Finally, Susquehanna reissued a “positive” rating and issued a $100.00 price target on shares of Microchip Technology in a research report on Monday, April 8th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $92.50.

Microchip Technology Profile

Microchip Technology Incorporated develops, manufactures, and sells 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 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.