Microchip Technology Incorporated (NASDAQ:MCHP) Stake Raised by Cwm LLC

Cwm LLC grew its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,955 shares of the semiconductor company’s stock after buying an additional 403 shares during the period. Cwm LLC’s holdings in Microchip Technology were worth $2,646,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Swedbank AB bought a new stake in shares of Microchip Technology during the first quarter valued at approximately $1,079,000. SageView Advisory Group LLC raised its holdings in shares of Microchip Technology by 507.5% during the first quarter. SageView Advisory Group LLC now owns 17,307 shares of the semiconductor company’s stock valued at $1,553,000 after buying an additional 14,458 shares during the last quarter. RFG Advisory LLC raised its holdings in shares of Microchip Technology by 228.4% during the first quarter. RFG Advisory LLC now owns 12,841 shares of the semiconductor company’s stock valued at $1,152,000 after buying an additional 8,931 shares during the last quarter. Hennessy Advisors Inc. raised its holdings in Microchip Technology by 2,194.5% during the first quarter. Hennessy Advisors Inc. now owns 33,454 shares of the semiconductor company’s stock worth $3,001,000 after purchasing an additional 31,996 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in Microchip Technology by 6.3% during the first quarter. Janney Montgomery Scott LLC now owns 225,633 shares of the semiconductor company’s stock worth $20,242,000 after purchasing an additional 13,304 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Trading Up 0.8 %

NASDAQ MCHP opened at $77.98 on Monday. Microchip Technology Incorporated has a twelve month low of $68.75 and a twelve month high of $100.57. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.08 and a current ratio of 1.94. The stock has a market cap of $41.84 billion, a price-to-earnings ratio of 31.19 and a beta of 1.52. The firm’s 50 day moving average price is $78.09 and its two-hundred day moving average price is $86.57.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.52 by $0.01. Microchip Technology had a net margin of 20.80% and a return on equity of 28.33%. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the previous year, the company posted $1.56 EPS. Microchip Technology’s revenue was down 45.8% on a year-over-year basis. Equities analysts anticipate that Microchip Technology Incorporated will post 1.73 EPS for the current year.

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.454 per share. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Thursday, August 22nd. Microchip Technology’s payout ratio is currently 72.80%.

Insider Activity

In other news, CFO James Eric Bjornholt sold 2,154 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 33,257 shares in the company, valued at $2,710,445.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Bank of America cut Microchip Technology from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $110.00 to $90.00 in a report on Friday, August 2nd. Piper Sandler raised Microchip Technology from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $90.00 to $100.00 in a report on Friday, August 16th. Morgan Stanley cut Microchip Technology from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $102.00 to $100.00 in a report on Thursday, July 11th. Rosenblatt Securities reissued a “buy” rating and set a $100.00 target price on shares of Microchip Technology in a report on Wednesday, July 31st. Finally, Truist Financial cut Microchip Technology from a “buy” rating to a “hold” rating and dropped their price target for the company from $89.00 to $80.00 in a report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.47.

Microchip Technology 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.