Microchip Technology Incorporated (NASDAQ:MCHP) Shares Acquired by CX Institutional

CX Institutional increased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 6.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,902 shares of the semiconductor company’s stock after purchasing an additional 776 shares during the period. CX Institutional’s holdings in Microchip Technology were worth $1,036,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new position in Microchip Technology during the first quarter worth approximately $28,000. Steph & Co. boosted its holdings in Microchip Technology by 57.4% in the first 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 acquired a new position in Microchip Technology in the first quarter valued at $39,000. Richardson Capital Management LLC purchased a new stake in Microchip Technology during the first quarter valued at about $45,000. Finally, SOA Wealth Advisors LLC. increased its stake in Microchip Technology by 90.0% during the first quarter. SOA Wealth Advisors LLC. now owns 530 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 251 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

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 on Friday, August 23rd. The stock was 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 owns 33,257 shares in the company, valued at approximately $2,710,445.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.07% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MCHP shares. Truist Financial lowered Microchip Technology from a “buy” rating to a “hold” rating and reduced their price objective for the company from $89.00 to $80.00 in a research note on Monday, September 23rd. Rosenblatt Securities reiterated a “buy” rating and set a $100.00 price objective on shares of Microchip Technology in a research note on Wednesday, July 31st. Piper Sandler raised shares of Microchip Technology from a “neutral” rating to an “overweight” rating and raised their target price for the company from $90.00 to $100.00 in a research note on Friday, August 16th. Susquehanna reduced 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. Finally, Bank of America downgraded Microchip Technology from a “buy” rating to a “neutral” rating and lowered their price target for the company from $110.00 to $90.00 in a report on Friday, August 2nd. One equities 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 stock. According to MarketBeat, Microchip Technology currently has a consensus rating of “Moderate Buy” and an average target price of $99.47.

Microchip Technology Trading Up 0.9 %

NASDAQ:MCHP opened at $75.89 on Thursday. Microchip Technology Incorporated has a 12-month low of $68.75 and a 12-month 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 business has a 50 day simple moving average of $78.28 and a 200 day simple moving average of $86.32. The firm has a market capitalization of $40.72 billion, a P/E ratio of 21.87 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Microchip Technology had a net margin of 20.80% and a return on equity of 28.33%. The company’s revenue for the quarter was down 45.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.56 EPS. Equities research analysts predict that Microchip Technology Incorporated will post 1.73 EPS for the current year.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were issued a $0.454 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.39%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, August 22nd. Microchip Technology’s dividend payout ratio is 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.