Vista Investment Management Boosts Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Vista Investment Management lifted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,767 shares of the semiconductor company’s stock after purchasing an additional 673 shares during the quarter. Vista Investment Management’s holdings in Microchip Technology were worth $1,535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Mainstream Capital Management LLC purchased a new position in shares of Microchip Technology in the fourth quarter worth $26,000. Rakuten Securities Inc. raised its stake in shares of Microchip Technology by 309.5% in the fourth quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 359 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of Microchip Technology in the fourth quarter worth $29,000. Financial Life Planners purchased a new position in shares of Microchip Technology in the fourth quarter worth $32,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in shares of Microchip Technology in the fourth quarter worth $34,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Transactions at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the transaction, the chief financial officer now directly owns 33,272 shares of the company’s stock, valued at approximately $2,025,599.36. This represents a 10.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MCHP shares. Raymond James boosted their price target on Microchip Technology from $60.00 to $65.00 and gave the stock a “strong-buy” rating in a research note on Friday, May 9th. KeyCorp reduced their price objective on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. Rosenblatt Securities reiterated a “buy” rating and set a $70.00 price objective on shares of Microchip Technology in a research report on Tuesday, March 4th. Citigroup upped their price objective on Microchip Technology from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Finally, UBS Group upped their price objective on Microchip Technology from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $67.42.

Microchip Technology Stock Performance

NASDAQ MCHP opened at $60.57 on Tuesday. The firm has a market cap of $32.63 billion, a price-to-earnings ratio of 108.16 and a beta of 1.42. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. The business has a 50-day moving average price of $47.68 and a 200-day moving average price of $55.68. Microchip Technology Incorporated has a twelve month low of $34.13 and a twelve month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $970.50 million during the quarter, compared to analyst estimates of $962.86 million. Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. The business’s quarterly revenue was down 26.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.57 earnings per share. As a group, equities research analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Thursday, May 22nd. Microchip Technology’s dividend payout ratio (DPR) is -18,200.00%.

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.