Kintegral Advisory LLC Grows Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Kintegral Advisory LLC boosted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 16.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,725 shares of the semiconductor company’s stock after purchasing an additional 1,753 shares during the quarter. Kintegral Advisory LLC’s holdings in Microchip Technology were worth $1,164,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rise Advisors LLC purchased a new stake in shares of Microchip Technology in the 1st quarter worth approximately $28,000. Pineridge Advisors LLC purchased a new stake in shares of Microchip Technology in the fourth quarter worth $33,000. Steph & Co. increased its holdings in shares of Microchip Technology by 57.4% during the first quarter. Steph & Co. now owns 414 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 151 shares in the last quarter. Pathway Financial Advisers LLC purchased a new position in shares of Microchip Technology in the 1st quarter worth about $39,000. Finally, Richardson Capital Management LLC bought a new position in Microchip Technology in the 1st quarter worth about $45,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Performance

Shares of NASDAQ MCHP opened at $79.40 on Thursday. Microchip Technology Incorporated has a 12-month low of $68.75 and a 12-month high of $100.57. The firm has a market capitalization of $42.60 billion, a price-to-earnings ratio of 22.88 and a beta of 1.54. The company has a current ratio of 1.20, a quick ratio of 0.67 and a debt-to-equity ratio of 0.75. The firm has a 50 day moving average of $85.98 and a 200 day moving average of $88.43.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.01. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Microchip Technology had a net margin of 20.80% and a return on equity of 27.82%. The company’s revenue was down 45.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.56 EPS. On average, research analysts anticipate that Microchip Technology Incorporated will post 2.35 earnings per share for the current year.

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd will be given a $0.454 dividend. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 2.29%. Microchip Technology’s dividend payout ratio is presently 52.16%.

Insider Transactions at Microchip Technology

In related news, Director Matthew W. Chapman sold 2,748 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $93.88, for a total transaction of $257,982.24. Following the completion of the transaction, the director now directly owns 35,682 shares in the company, valued at approximately $3,349,826.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO James Eric Bjornholt sold 2,154 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $81.50, for a total transaction of $175,551.00. Following the completion of the sale, the chief financial officer now owns 33,257 shares in the company, valued at $2,710,445.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew W. Chapman sold 2,748 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $93.88, for a total value of $257,982.24. Following the completion of the transaction, the director now directly owns 35,682 shares in the company, valued at $3,349,826.16. The disclosure for this sale can be found here. Insiders have sold 5,129 shares of company stock valued at $455,552 over the last quarter. 2.07% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Microchip Technology from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Microchip Technology in a research report on Wednesday, July 31st. Bank of America lowered Microchip Technology from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $110.00 to $90.00 in a report on Friday, August 2nd. KeyCorp boosted their price target on Microchip Technology from $90.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 7th. Finally, Susquehanna dropped their price objective on Microchip Technology from $115.00 to $105.00 and set a “positive” rating on the stock in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.95.

About Microchip Technology

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.