Microchip Technology Incorporated (NASDAQ:MCHP) Shares Bought by Motco

Motco raised its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 62.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 178,208 shares of the semiconductor company’s stock after purchasing an additional 68,485 shares during the quarter. Motco’s holdings in Microchip Technology were worth $10,220,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Financial Advocates Investment Management grew its position in Microchip Technology by 1.5% during the 3rd quarter. Financial Advocates Investment Management now owns 10,795 shares of the semiconductor company’s stock worth $867,000 after purchasing an additional 158 shares during the last quarter. Metis Global Partners LLC lifted its stake in shares of Microchip Technology by 1.0% in the 3rd quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company’s stock worth $1,378,000 after acquiring an additional 172 shares during the period. Americana Partners LLC lifted its stake in shares of Microchip Technology by 5.5% in the 3rd quarter. Americana Partners LLC now owns 3,441 shares of the semiconductor company’s stock worth $276,000 after acquiring an additional 179 shares during the period. Plato Investment Management Ltd lifted its stake in shares of Microchip Technology by 5.8% in the 3rd quarter. Plato Investment Management Ltd now owns 3,499 shares of the semiconductor company’s stock worth $281,000 after acquiring an additional 191 shares during the period. Finally, Summit Global Investments lifted its stake in shares of Microchip Technology by 2.5% in the 3rd quarter. Summit Global Investments now owns 8,463 shares of the semiconductor company’s stock worth $679,000 after acquiring an additional 207 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the sale, the chief financial officer now directly owns 33,272 shares in the company, valued at $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

MCHP has been the subject of several recent analyst reports. Piper Sandler restated an “overweight” rating and issued a $65.00 target price (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Stifel Nicolaus reduced their target price on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, December 3rd. Mizuho reduced their target price on shares of Microchip Technology from $85.00 to $72.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. TD Cowen reduced their target price on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Finally, Raymond James restated a “strong-buy” rating and issued a $60.00 target price (down previously from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and a consensus price target of $77.11.

Microchip Technology Stock Performance

NASDAQ:MCHP opened at $57.12 on Friday. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. The firm has a 50-day moving average price of $56.87 and a two-hundred day moving average price of $67.64. Microchip Technology Incorporated has a twelve month low of $50.21 and a twelve month high of $100.57. The company has a market capitalization of $30.72 billion, a P/E ratio of 102.00 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. As a group, research analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.455 per share. The ex-dividend date is Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.19%. Microchip Technology’s dividend payout ratio (DPR) is presently 325.00%.

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.