McGlone Suttner Wealth Management bought new shares in Microchip Technology Incorporated (NASDAQ:MCHP – Free Report) during the 4th quarter, according to its latest disclosure with the Securities and Exchange Commission. The fund purchased 689 shares of the semiconductor company's stock, valued at approximately $62,000.
A number of other institutional investors have also changed their positions on the business. Aspire Private Capital LLC raised its holdings in shares of Microchip Technology by 3.2% in the 4th quarter. Aspire Private Capital LLC now owns 3,904 shares of the company's stock valued at $274,266,959,000 after purchasing an additional 120 shares during the last quarter. Balentine LLC increased its holdings in shares of Microchip Technology by 1.0% in the 2nd quarter. Valentine LLC now owns 12,656 shares of the company's stock valued at $1,134,000 after purchasing an additional 122 shares during the last quarter. Bleakley Financial Group LLC increased its holdings in shares of Microchip Technology by 1.3% in the 2nd quarter. Bleakley Financial Group LLC now owns 9,360 shares of the company's stock valued at $839,000 after purchasing an additional 124 shares during the last quarter. Twelve Points Wealth Management LLC raised his holdings in shares of Microchip Technology by 1.0% in the 4th quarter. Twelve Points Wealth Management LLC now owns 12,229 shares of the company's stock valued at $1,103,000 after purchasing an additional 125 shares during the last quarter. Finally, Halpern Financial Inc. grew its position in Microchip Technology by 83.5% in the 2nd quarter. Halpern Financial Inc. now owns 290 shares of the company's stock valued at $26,000 after purchasing an additional 132 shares during the period. 91.51% of the stock is held by institutional investors.
Insider buying and selling at Microchip Technology
In other Microchip Technology news, CFO James Eric Bjornholt sold 1,970 shares of the company's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total value of $165,283.00. Following the sale, the chief financial officer now owns 32,893 shares of the company's stock, valued at approximately $2,759,722.70. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which is available at this hyperlink. In other Microchip Technology news, Director Karlton D. Johnson sold 370 shares of the company's stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total value of $31,080.00. Following the sale, the director now owns 1,789 shares of the company's stock, valued at approximately $150,276. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which is available at this hyperlink. Also, Chief Financial Officer (CFO) James Eric Bjornholt sold 1,970 shares of the company's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total value of $165,283.00. Following the sale, the chief financial officer now owns 32,893 shares of the company's stock, valued at approximately $2,759,722.70. Disclosures regarding this sale can be found here. Insiders own 2.07% of the company's stock.
Analyst upgrades and downgrades
Recently, many brokerage firms have commented on MCHP. Wolfe Research upgraded Microchip Technology from an “equal perform” rating to an “outperform” rating and set a $105.00 target price for the company in a research report on Thursday, January 18th. Susquehanna lowered their target price on Microchip Technology from $105.00 to $100.00 and gave the company a “positive” rating in a research report on Friday, February 2nd. StockNews.com downgraded Microchip Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 29th. Rosenblatt Securities reiterated a “buy” rating and set a $100.00 price target on shares of Microchip Technology in a research report on Tuesday, January 30th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $94.00 target price on the Technology stock for Microchip in a research report on Thursday, March 14th. Six equity research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on MarketBeat data, the company has a consensus rating of “Moderate Buy” and an average price target of $91.33.
Check out the latest report on MCHP.
Price performance of microchip technology
MCHP stock opened at $89.71 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. The stock's 50-day simple moving average is $86.38 and its 200-day simple moving average is $83.22. Microchip Technology Incorporated has a 52-week low of $68.75 and a 52-week high of $94.30. The company has a market capitalization of $48.48 billion, a P/E ratio of 20.96x, a P/E ratio of 1.60x, and a beta of 1.65x.
Microchip Technology (NASDAQ:MCHP – Get Free Report) last released its quarterly earnings data on Thursday, February 1st. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.04. Microchip Technology had a return on equity of 45.59% and a net profit margin of 27.59%. The business had revenue of $1.77 billion in the quarter, compared to analyst expectations of $1.77 billion. In the same period last year, the company's EPS was $1.48. Microchip Technology's quarterly revenue decreased 18.6% compared to the same period last year. Sell-side analysts predict that Microchip Technology Incorporated's EPS for the current fiscal year will be 4.64.
Microchip Technology increases dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were awarded a $0.45 dividend. The ex-dividend date for this dividend was Thursday, February 22nd. This is a positive change from Microchip Technology's previous quarterly dividend of $0.44. This equates to an annualized dividend of $1.80 and a dividend yield of 2.01%. Microchip Technology's payout ratio is currently 42.06%.
Microchip technology profile
(Free report)
Microchip Technology Incorporated develops, manufactures and markets 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 microprocessor. It also includes specialized microcontrollers for automotive, industrial, computing, communications, lighting, power, motor control, human-machine interface, security, wired connectivity, and wireless connectivity applications.
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