Microchip Technology Incorporated (NASDAQ:MCHP) Shares Purchased by Arkadios Wealth Advisors

Arkadios Wealth Advisors lifted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 74.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 6,214 shares of the semiconductor company’s stock after buying an additional 2,656 shares during the quarter. Arkadios Wealth Advisors’ holdings in Microchip Technology were worth $499,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MCHP. Vanguard Group Inc. increased its holdings in shares of Microchip Technology by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 68,583,723 shares of the semiconductor company’s stock worth $6,152,646,000 after acquiring an additional 1,921,497 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Microchip Technology by 0.4% during the second quarter. Principal Financial Group Inc. now owns 9,246,403 shares of the semiconductor company’s stock valued at $846,046,000 after buying an additional 33,603 shares during the last quarter. Boston Partners boosted its position in shares of Microchip Technology by 10.7% during the first quarter. Boston Partners now owns 7,591,471 shares of the semiconductor company’s stock worth $681,838,000 after buying an additional 736,818 shares during the period. Van ECK Associates Corp increased its position in Microchip Technology by 4.9% in the 2nd quarter. Van ECK Associates Corp now owns 6,363,937 shares of the semiconductor company’s stock valued at $582,301,000 after acquiring an additional 295,626 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Microchip Technology by 17.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,527,709 shares of the semiconductor company’s stock valued at $406,182,000 after acquiring an additional 673,992 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Susquehanna decreased their price target on Microchip Technology from $105.00 to $95.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Needham & Company LLC decreased their target price on shares of Microchip Technology from $100.00 to $96.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Bank of America downgraded shares of Microchip Technology from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $110.00 to $90.00 in a research report on Friday, August 2nd. 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, Morgan Stanley lowered Microchip Technology from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $102.00 to $100.00 in a research note on Thursday, July 11th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.89.

Insider Transactions at Microchip Technology

In related news, CFO James Eric Bjornholt sold 2,154 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $81.50, for a total value of $175,551.00. Following the completion of the sale, the chief financial officer now owns 33,257 shares of the company’s stock, valued at approximately $2,710,445.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.07% of the company’s stock.

Microchip Technology Stock Up 2.4 %

Shares of NASDAQ:MCHP opened at $79.05 on Wednesday. Microchip Technology Incorporated has a 52 week low of $68.75 and a 52 week 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 company has a market cap of $42.41 billion, a PE ratio of 22.78 and a beta of 1.52. The firm has a 50 day simple moving average of $77.81 and a 200 day simple moving average of $85.55.

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, beating analysts’ consensus estimates of $0.52 by $0.01. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. Microchip Technology had a return on equity of 28.33% and a net margin of 20.80%. The firm’s quarterly revenue was down 45.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.56 EPS. As a group, research analysts expect that Microchip Technology Incorporated will post 1.73 earnings per share for the current 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 given a $0.454 dividend. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a yield of 2.30%. The ex-dividend date was Thursday, August 22nd. Microchip Technology’s dividend payout ratio is presently 52.16%.

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.