Venture Visionary Partners LLC increased its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP – Free Report) by 5.3% in the 4th quarter, Holdings Channel reports. The fund now owns 5,106 shares of the semiconductor company's stock after purchasing an additional 258 shares during the period. Venture Visionary Partners LLC's holdings in Microchip Technology were valued at $460,000 as of its latest filing with the Securities and Exchange Commission.
Many other institutional investors have also changed their holdings in MCHP. 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 semiconductor company's stock valued at $26,000 after purchasing an additional 132 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of Microchip Technology in the 3rd quarter valued at approximately $26,000. BKM Wealth Management LLC acquired a new position in shares of Microchip Technology during the 4th quarter valued at approximately $27,000. Fortitude Family Office LLC purchased a new position in Microchip Technology during the fourth quarter valued at approximately $29,000. Finally, Almanac Investment Partners LLC. acquired a new stake in Microchip Technology during the 3rd quarter valued at approximately $29,000. Institutional investors and hedge funds own 91.51% of the company's stock.
Price performance of microchip technology
MCHP stock opened at $87.57 on Monday. The stock's 50-day moving average price is $86.18 and its 200-day moving average price is $83.71. The company has a market capitalization of $47.32 billion, a P/E ratio of 20.46, a PEG ratio of 2.67, and a beta of 1.65. 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 1-year low of $68.75 and a 1-year high of $94.30.
Microchip Technology (NASDAQ:MCHP – Get Free Report) last announced its quarterly earnings results on Thursday, February 1st. The company reported $1.08 earnings per share for the quarter, beating analysts' consensus estimates of $1.04 by $0.04. The company had revenue of $1.77 billion for the quarter, compared to analyst expectations of $1.77 billion. Microchip Technology had a return on equity of 45.59% and a net profit margin of 27.59%. The business's revenue for the quarter was down 18.6% compared to the same period last year. The company's earnings per share for the same period last year were $1.48. On average, sell-side analysts expect Microchip Technology Incorporated to report earnings per share of $4.64 for the current fiscal year.
Microchip Technology increases dividend
The company also recently announced 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. The ex-dividend date was Thursday, February 22nd. This is an increase from Microchip Technology's previous quarterly dividend of $0.44. This equates to a dividend of $1.80 per year, or a dividend yield of 2.06%. Microchip Technology's dividend payout ratio is 42.06%.
Analyst rating changes
MCHP has been the subject of several recent analyst reports. UBS Group lowered their target price on Microchip Technology from $105.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Susquehanna lowered their target price on Microchip Technology from $105.00 to $100.00 and gave the stock a “positive” rating in a report on Friday, February 2nd. StockNews.com downgraded Microchip Technology from a “buy” rating to a “hold” rating in a report on Friday, December 29th. Goldman Sachs Group lowered their target price on shares of Microchip Technology from $87.00 to $77.00 and set a “neutral” rating on the stock in a research note on Friday, February 2nd. Finally, Wolfe Research upgraded shares of Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 target price for the company in a research note on Thursday, January 18th. . 6 analysts have rated the stock as a hold and 10 have rated it a buy. According to MarketBeat, Microchip Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.33.
Check out the latest report on microchip technology.
Insider activity
In related news, Director Carlton 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 sale, the director now owns 1,789 shares of the company's stock, valued at $150,276. The sale was disclosed in his SEC filing, which can be accessed through this hyperlink. In other news, CFO James Eric Bjornholt sold 1,970 shares of the company's stock in a transaction 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 completion of the transaction, 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 filing with the SEC, which is available through this hyperlink. Also, Director Carlton 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 transaction of $31,080.00. Following the transaction, the director now owns 1,789 shares of the company's stock, valued at $150,276. Disclosures regarding this sale can be found here. Insiders own 2.07% of the company's stock.
About microchip technology
(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.
Featured articles
Curious if other hedge funds own MCHP? Visit HoldingsChannel.com to get the latest 13F filings and insider transactions for Microchip Technology Incorporated (NASDAQ:MCHP – Free Report).
Receive daily Microchip Technology news and reviews – Enter your email address below to receive a concise, daily summary of the latest news and analyst ratings on Microchip Technology and related companies with MarketBeat.com's free daily email newsletter.
