Microchip Technology Incorporated (NASDAQ:MCHP) Shares Purchased by Motco

Motco increased its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHPFree Report) by 5.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 187,693 shares of the semiconductor company’s stock after purchasing an additional 9,485 shares during the period. Motco’s holdings in Microchip Technology were worth $9,086,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Federated Hermes Inc. raised its position in shares of Microchip Technology by 0.5% during the 4th quarter. Federated Hermes Inc. now owns 39,298 shares of the semiconductor company’s stock worth $2,254,000 after purchasing an additional 209 shares during the last quarter. Northwest Bank & Trust Co raised its holdings in Microchip Technology by 3.0% in the 4th quarter. Northwest Bank & Trust Co now owns 7,392 shares of the semiconductor company’s stock valued at $424,000 after acquiring an additional 217 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Microchip Technology by 0.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 46,235 shares of the semiconductor company’s stock valued at $2,238,000 after acquiring an additional 230 shares during the last quarter. Greenleaf Trust raised its holdings in Microchip Technology by 1.0% in the 1st quarter. Greenleaf Trust now owns 24,933 shares of the semiconductor company’s stock valued at $1,207,000 after acquiring an additional 242 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC raised its holdings in Microchip Technology by 3.4% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 8,360 shares of the semiconductor company’s stock valued at $405,000 after acquiring an additional 276 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Microchip Technology

In related news, CFO James Eric Bjornholt sold 2,015 shares of Microchip Technology stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $55.78, for a total value of $112,396.70. Following the transaction, the chief financial officer owned 34,313 shares in the company, valued at $1,913,979.14. This trade represents a 5.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Karlton D. Johnson sold 494 shares of the business’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $60.69, for a total transaction of $29,980.86. Following the transaction, the director owned 3,468 shares in the company, valued at approximately $210,472.92. The trade was a 12.47% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.94% of the company’s stock.

Microchip Technology Trading Up 2.1%

Shares of NASDAQ:MCHP opened at $69.21 on Friday. The firm has a fifty day moving average of $67.83 and a two-hundred day moving average of $57.38. The firm has a market capitalization of $37.35 billion, a P/E ratio of -6,921.00, a price-to-earnings-growth ratio of 1.92 and a beta of 1.52. Microchip Technology Incorporated has a 12-month low of $34.13 and a 12-month high of $89.59. The company has a quick ratio of 1.47, a current ratio of 2.59 and a debt-to-equity ratio of 0.80.

Microchip Technology (NASDAQ:MCHPGet Free Report) last released its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $970.50 million for the quarter, compared to the consensus estimate of $962.86 million. Microchip Technology had a negative net margin of 0.01% and a positive return on equity of 8.55%. Microchip Technology’s revenue for the quarter was down 26.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.57 EPS. On average, equities analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were issued a $0.455 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $1.82 annualized dividend and a yield of 2.63%. Microchip Technology’s dividend payout ratio (DPR) is presently -18,200.00%.

Analysts Set New Price Targets

A number of analysts have recently commented on MCHP shares. Evercore ISI upped their price objective on Microchip Technology from $69.00 to $83.00 and gave the stock an “outperform” rating in a report on Thursday, June 12th. Wall Street Zen raised shares of Microchip Technology from a “sell” rating to a “hold” rating in a research report on Friday, June 27th. TD Cowen increased their price target on shares of Microchip Technology from $35.00 to $55.00 and gave the stock a “hold” rating in a research report on Friday, May 9th. Truist Financial increased their price target on shares of Microchip Technology from $52.00 to $64.00 and gave the stock a “hold” rating in a research report on Wednesday, June 18th. Finally, The Goldman Sachs Group started coverage on shares of Microchip Technology in a research note on Thursday, July 10th. They set a “buy” rating and a $88.00 price objective on the stock. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.70.

View Our Latest Stock Report on MCHP

Microchip Technology Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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