Valmark Advisers Inc. Purchases 322 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Valmark Advisers Inc. raised its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 10.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,359 shares of the semiconductor company’s stock after acquiring an additional 322 shares during the quarter. Valmark Advisers Inc.’s holdings in Microchip Technology were worth $307,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Rise Advisors LLC acquired a new position in shares of Microchip Technology during the first quarter valued at about $28,000. Pineridge Advisors LLC acquired a new position in shares of Microchip Technology during the fourth quarter valued at about $33,000. Steph & Co. raised 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 purchasing an additional 151 shares during the period. Pathway Financial Advisers LLC acquired a new position in shares of Microchip Technology during the first quarter valued at about $39,000. Finally, Richardson Capital Management LLC acquired a new position in shares of Microchip Technology during the first quarter valued at about $45,000. Institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In related news, Director Matthew W. Chapman sold 2,748 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were 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 of the company’s stock, valued at approximately $3,349,826.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Microchip Technology news, CFO James Eric Bjornholt sold 2,154 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $81.50, for a total value of $175,551.00. Following the sale, the chief financial officer now directly owns 33,257 shares in the company, valued at approximately $2,710,445.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew W. Chapman sold 2,748 shares of the 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 sale, the director now owns 35,682 shares in the company, valued at $3,349,826.16. The disclosure for this sale can be found here. 2.07% of the stock is owned by insiders.

Microchip Technology Stock Down 7.0 %

Microchip Technology stock opened at $76.40 on Wednesday. Microchip Technology Incorporated has a twelve month low of $68.75 and a twelve month high of $100.57. The firm has a 50 day moving average price of $85.24 and a 200-day moving average price of $88.43. The company has a market capitalization of $40.99 billion, a P/E ratio of 22.02 and a beta of 1.54. 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 released 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. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. Microchip Technology had a net margin of 20.80% and a return on equity of 28.33%. Microchip Technology’s revenue for the quarter was down 45.8% on a year-over-year basis. During the same period last year, the firm earned $1.56 EPS. As a group, equities analysts predict that Microchip Technology Incorporated will post 1.74 EPS for the current year.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 22nd will be issued a $0.454 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a yield of 2.38%. Microchip Technology’s dividend payout ratio (DPR) is 52.16%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MCHP. Truist Financial lowered their target price on shares of Microchip Technology from $96.00 to $89.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. KeyCorp upped their target price on shares of Microchip Technology from $90.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. Susquehanna lowered their target price on shares of Microchip Technology from $115.00 to $105.00 and set a “positive” rating on the stock in a report on Friday, August 2nd. TD Cowen lowered their target price on shares of Microchip Technology from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Finally, UBS Group upped their target price on shares of Microchip Technology from $95.00 to $103.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Microchip Technology has an average rating of “Moderate Buy” and a consensus target price of $99.95.

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.