Vanguard Personalized Indexing Management LLC Increases Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Vanguard Personalized Indexing Management LLC boosted its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 15.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 60,267 shares of the semiconductor company’s stock after buying an additional 7,971 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Microchip Technology were worth $5,509,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCHP. Rise Advisors LLC acquired a new stake in Microchip Technology in the first quarter valued at $28,000. Pineridge Advisors LLC purchased a new stake in shares of Microchip Technology in the 4th quarter worth about $33,000. Steph & Co. grew its stake in Microchip Technology by 57.4% in the 1st quarter. Steph & Co. now owns 414 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 151 shares during the last quarter. Pathway Financial Advisers LLC purchased a new position in Microchip Technology during the 1st quarter valued at about $39,000. Finally, Richardson Capital Management LLC acquired a new position in Microchip Technology during the first quarter worth about $45,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MCHP has been the topic of several research reports. B. Riley lowered their price target on shares of Microchip Technology from $110.00 to $103.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Citigroup dropped their price target on Microchip Technology from $104.00 to $92.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Needham & Company LLC cut their price target on Microchip Technology from $100.00 to $96.00 and set a “buy” rating for the company in a report on Monday, August 5th. Mizuho raised Microchip Technology from a “neutral” rating to a “buy” rating and increased their price objective for the company from $85.00 to $115.00 in a research note on Friday, May 24th. Finally, TD Cowen dropped their price objective on Microchip Technology from $90.00 to $80.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $99.95.

Insider Activity at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,154 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were 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 directly owns 33,257 shares in the company, valued at $2,710,445.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.07% of the stock is currently owned by insiders.

Microchip Technology Stock Performance

NASDAQ:MCHP opened at $76.36 on Thursday. Microchip Technology Incorporated has a fifty-two week low of $68.75 and a fifty-two week high of $100.57. The firm’s 50 day moving average is $81.73 and its two-hundred day moving average is $87.86. The company has a market cap of $40.97 billion, a P/E ratio of 22.01 and a beta of 1.53. The company has a quick ratio of 1.08, a current ratio of 1.94 and a debt-to-equity ratio of 0.96.

Microchip Technology (NASDAQ:MCHP) last issued its 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. Microchip Technology had a return on equity of 28.33% and a net margin of 20.80%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period last year, the company posted $1.56 EPS. The business’s quarterly revenue was down 45.8% on a year-over-year basis. Analysts expect that Microchip Technology Incorporated will post 1.74 EPS for the current year.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were given a dividend of $0.454 per share. This represents a $1.82 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date was Thursday, August 22nd. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio is 52.16%.

Microchip Technology Company Profile

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.