Creative Planning Acquires 719 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Creative Planning increased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 0.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 116,549 shares of the semiconductor company’s stock after buying an additional 719 shares during the period. Creative Planning’s holdings in Microchip Technology were worth $9,358,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Fisher Asset Management LLC lifted its stake in Microchip Technology by 3,353.4% in the 4th quarter. Fisher Asset Management LLC now owns 2,521 shares of the semiconductor company’s stock worth $227,000 after purchasing an additional 2,448 shares in the last quarter. Dynamic Advisor Solutions LLC raised its position in shares of Microchip Technology by 80.7% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 23,194 shares of the semiconductor company’s stock valued at $2,081,000 after buying an additional 10,358 shares in the last quarter. First Financial Corp IN raised its position in shares of Microchip Technology by 46.7% during the 1st quarter. First Financial Corp IN now owns 1,058 shares of the semiconductor company’s stock valued at $95,000 after buying an additional 337 shares in the last quarter. Sunbelt Securities Inc. raised its position in shares of Microchip Technology by 9.2% during the 1st quarter. Sunbelt Securities Inc. now owns 9,356 shares of the semiconductor company’s stock valued at $839,000 after buying an additional 791 shares in the last quarter. Finally, GoalVest Advisory LLC raised its position in Microchip Technology by 49.8% in the 1st quarter. GoalVest Advisory LLC now owns 602 shares of the semiconductor company’s stock worth $54,000 after purchasing an additional 200 shares during the period. 91.51% of the stock is owned by institutional investors.

Microchip Technology Trading Up 0.3 %

NASDAQ:MCHP opened at $75.43 on Wednesday. Microchip Technology Incorporated has a one year low of $68.75 and a one year high of $100.57. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.94 and a quick ratio of 1.08. The company’s 50-day simple moving average is $78.19 and its 200 day simple moving average is $85.98. The firm has a market capitalization of $40.47 billion, a P/E ratio of 21.74 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.53 EPS for the quarter, topping 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 analyst estimates of $1.24 billion. During the same quarter in the previous year, the firm posted $1.56 earnings per share. Microchip Technology’s quarterly revenue was down 45.8% on a year-over-year basis. As a group, analysts forecast that Microchip Technology Incorporated will post 1.73 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were issued a $0.454 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a yield of 2.41%. Microchip Technology’s payout ratio is 52.16%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MCHP shares. Susquehanna decreased their target price on shares of Microchip Technology from $105.00 to $95.00 and set a “positive” rating on the stock in a research report on Monday. Mizuho set a $95.00 price target on shares of Microchip Technology in a report on Friday. Truist Financial lowered shares of Microchip Technology from a “buy” rating to a “hold” rating and cut their price target for the stock from $89.00 to $80.00 in a report on Monday, September 23rd. Bank of America lowered shares of Microchip Technology from a “buy” rating to a “neutral” rating and cut their price target for the stock from $110.00 to $90.00 in a report on Friday, August 2nd. Finally, Morgan Stanley lowered shares of Microchip Technology from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $102.00 to $100.00 in a report on Thursday, July 11th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $97.89.

Insider Activity

In other 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 transaction, the chief financial officer now directly owns 33,257 shares of the company’s stock, valued at $2,710,445.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.07% of the stock is owned by corporate insiders.

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.