MSH Capital Advisors LLC Acquires Shares of 4,540 Microchip Technology Incorporated (NASDAQ:MCHP)

MSH Capital Advisors LLC purchased a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the fourth quarter, Holdings Channel reports. The firm purchased 4,540 shares of the semiconductor company’s stock, valued at approximately $260,000.

A number of other hedge funds also recently modified their holdings of MCHP. Mainstream Capital Management LLC acquired a new stake in Microchip Technology during the fourth quarter worth about $26,000. Rakuten Securities Inc. boosted its position in shares of Microchip Technology by 309.5% during the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 359 shares in the last quarter. OFI Invest Asset Management bought a new position in Microchip Technology in the fourth quarter valued at approximately $29,000. Financial Life Planners bought a new stake in Microchip Technology during the fourth quarter worth $32,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Microchip Technology in the 4th quarter valued at $34,000. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MCHP shares. Rosenblatt Securities reissued a “buy” rating and set a $70.00 price target on shares of Microchip Technology in a report on Tuesday, March 4th. Raymond James restated a “strong-buy” rating and issued a $60.00 price target (down from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. Morgan Stanley cut their target price on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Citigroup lowered their price target on shares of Microchip Technology from $65.00 to $50.00 and set a “buy” rating for the company in a report on Friday, April 11th. Finally, KeyCorp dropped their price target on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $72.68.

Microchip Technology Stock Down 2.0 %

Shares of Microchip Technology stock opened at $37.95 on Thursday. The company has a fifty day moving average price of $51.27 and a 200 day moving average price of $60.30. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. Microchip Technology Incorporated has a twelve month low of $34.13 and a twelve month high of $100.57. The stock has a market cap of $20.41 billion, a price-to-earnings ratio of 67.77 and a beta of 1.51.

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

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were given a $0.455 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a yield of 4.80%. Microchip Technology’s payout ratio is currently 325.00%.

Insider Transactions at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the completion of the sale, the chief financial officer now owns 33,272 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.10% of the company’s stock.

About Microchip Technology

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.