Microchip Technology Incorporated (NASDAQ:MCHP) Stock Holdings Increased by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC grew its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 32.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 14,773 shares of the semiconductor company’s stock after acquiring an additional 3,602 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Microchip Technology were worth $1,332,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Commonwealth Equity Services LLC increased its stake in shares of Microchip Technology by 8.6% during the third quarter. Commonwealth Equity Services LLC now owns 135,845 shares of the semiconductor company’s stock valued at $10,603,000 after acquiring an additional 10,702 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in shares of Microchip Technology by 4.7% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 39,162 shares of the semiconductor company’s stock valued at $3,057,000 after purchasing an additional 1,769 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in shares of Microchip Technology by 4.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 293,870 shares of the semiconductor company’s stock worth $22,937,000 after buying an additional 13,714 shares in the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of Microchip Technology by 7.1% in the third quarter. Stratos Wealth Partners LTD. now owns 5,799 shares of the semiconductor company’s stock valued at $453,000 after buying an additional 383 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in Microchip Technology by 1.1% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 264,000 shares of the semiconductor company’s stock valued at $20,605,000 after buying an additional 3,000 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wolfe Research upgraded shares of Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 price target on the stock in a research report on Thursday, January 18th. Stifel Nicolaus boosted their target price on Microchip Technology from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday. Truist Financial reduced their target price on Microchip Technology from $97.00 to $93.00 and set a “buy” rating for the company in a report on Tuesday, January 9th. Rosenblatt Securities restated a “buy” rating and set a $100.00 price objective on shares of Microchip Technology in a report on Tuesday, January 30th. Finally, Susquehanna reaffirmed a “positive” rating and set a $100.00 price objective on shares of Microchip Technology in a research note on Monday, April 8th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $92.75.

Insiders Place Their Bets

In related news, Director Karlton D. Johnson sold 370 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total transaction of $31,080.00. Following the transaction, the director now owns 1,789 shares of the company’s stock, valued at $150,276. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Karlton D. Johnson sold 370 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total value of $31,080.00. Following the completion of the sale, the director now owns 1,789 shares in the company, valued at $150,276. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO James Eric Bjornholt sold 1,970 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $83.90, for a total value of $165,283.00. Following the transaction, the chief financial officer now owns 32,893 shares in the company, valued at $2,759,722.70. The disclosure for this sale can be found here. Company insiders own 2.07% of the company’s stock.

Microchip Technology Stock Performance

Shares of MCHP opened at $91.36 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.58. Microchip Technology Incorporated has a one year low of $68.75 and a one year high of $94.63. The company’s fifty day moving average price is $87.88 and its 200 day moving average price is $84.95. The company has a market capitalization of $49.37 billion, a PE ratio of 21.35, a price-to-earnings-growth ratio of 2.73 and a beta of 1.60.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the company posted $1.48 earnings per share. The firm’s revenue for the quarter was down 18.6% on a year-over-year basis. As a group, analysts expect that Microchip Technology Incorporated will post 4.64 earnings per share for the current year.

About Microchip Technology

Microchip Technology Incorporated develops, manufactures, and sells 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 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.