GoalVest Advisory LLC Grows Position in Microchip Technology Incorporated (NASDAQ:MCHP)

GoalVest Advisory LLC lifted its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 49.8% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 602 shares of the semiconductor company’s stock after buying an additional 200 shares during the quarter. GoalVest Advisory LLC’s holdings in Microchip Technology were worth $54,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. RMR Wealth Builders lifted its holdings in shares of Microchip Technology by 17.6% in the first quarter. RMR Wealth Builders now owns 8,903 shares of the semiconductor company’s stock worth $799,000 after buying an additional 1,333 shares in the last quarter. Sunbelt Securities Inc. increased its position in Microchip Technology by 9.2% in the first quarter. Sunbelt Securities Inc. now owns 9,356 shares of the semiconductor company’s stock worth $839,000 after purchasing an additional 791 shares during the last quarter. First Financial Corp IN increased its position in Microchip Technology by 46.7% in the first quarter. First Financial Corp IN now owns 1,058 shares of the semiconductor company’s stock worth $95,000 after purchasing an additional 337 shares during the last quarter. Dynamic Advisor Solutions LLC increased its position in Microchip Technology by 80.7% in the first quarter. Dynamic Advisor Solutions LLC now owns 23,194 shares of the semiconductor company’s stock worth $2,081,000 after purchasing an additional 10,358 shares during the last quarter. Finally, CGN Advisors LLC increased its position in Microchip Technology by 10.0% in the first quarter. CGN Advisors LLC now owns 28,565 shares of the semiconductor company’s stock worth $2,563,000 after purchasing an additional 2,586 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In other Microchip Technology news, VP Stephen V. Drehobl sold 10,000 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $90.88, for a total transaction of $908,800.00. Following the completion of the sale, the vice president now directly owns 82,203 shares of the company’s stock, valued at $7,470,608.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Microchip Technology news, VP Stephen V. Drehobl sold 10,000 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $90.88, for a total transaction of $908,800.00. Following the completion of the sale, the vice president now directly owns 82,203 shares of the company’s stock, valued at $7,470,608.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Stephen V. Drehobl sold 7,830 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $95.06, for a total transaction of $744,319.80. Following the sale, the vice president now directly owns 79,509 shares of the company’s stock, valued at $7,558,125.54. The disclosure for this sale can be found here. Insiders sold a total of 23,993 shares of company stock valued at $2,251,857 over the last three months. 2.07% of the stock is owned by company insiders.

Microchip Technology Stock Down 0.7 %

NASDAQ:MCHP opened at $89.43 on Friday. Microchip Technology Incorporated has a 1-year low of $68.75 and a 1-year high of $100.57. The company has a 50-day moving average of $92.72 and a 200 day moving average of $89.08. The firm has a market cap of $48.01 billion, a PE ratio of 25.77 and a beta of 1.55. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.20 and a quick ratio of 0.67.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Monday, May 6th. The semiconductor company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. Microchip Technology had a net margin of 24.98% and a return on equity of 36.78%. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the prior year, the firm earned $1.56 earnings per share. The firm’s revenue for the quarter was down 40.6% compared to the same quarter last year. As a group, research analysts anticipate that Microchip Technology Incorporated will post 2.35 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were paid a $0.452 dividend. The ex-dividend date was Tuesday, May 21st. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.81 dividend on an annualized basis and a yield of 2.02%. Microchip Technology’s dividend payout ratio is 52.16%.

Analyst Ratings Changes

Several brokerages recently weighed in on MCHP. UBS Group boosted their price target on shares of Microchip Technology from $95.00 to $103.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. KeyCorp boosted their price target on shares of Microchip Technology from $90.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Susquehanna boosted their price target on shares of Microchip Technology from $100.00 to $105.00 and gave the stock a “positive” rating in a research report on Tuesday, May 7th. Stifel Nicolaus boosted their price target on shares of Microchip Technology from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, Jefferies Financial Group assumed coverage on shares of Microchip Technology in a research report on Monday, May 13th. They set a “buy” rating and a $115.00 price objective on the stock. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $101.06.

Microchip Technology Company 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.