Signaturefd LLC Acquires 185 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Signaturefd LLC grew its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,897 shares of the semiconductor company’s stock after buying an additional 185 shares during the period. Signaturefd LLC’s holdings in Microchip Technology were worth $983,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Northern Trust Corp grew its position in shares of Microchip Technology by 1.1% in the third quarter. Northern Trust Corp now owns 7,521,409 shares of the semiconductor company’s stock valued at $587,046,000 after purchasing an additional 80,431 shares during the last quarter. Van ECK Associates Corp increased its position in Microchip Technology by 7.8% during the 3rd quarter. Van ECK Associates Corp now owns 4,462,638 shares of the semiconductor company’s stock worth $348,309,000 after buying an additional 322,540 shares during the period. Mizuho Markets Americas LLC acquired a new stake in shares of Microchip Technology during the third quarter worth $225,800,000. Charles Schwab Investment Management Inc. boosted its position in shares of Microchip Technology by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,830,397 shares of the semiconductor company’s stock valued at $220,913,000 after acquiring an additional 25,002 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Microchip Technology by 0.5% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,457,152 shares of the semiconductor company’s stock valued at $221,586,000 after acquiring an additional 11,163 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MCHP has been the subject of several analyst reports. Truist Financial dropped their price objective on shares of Microchip Technology from $97.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, January 9th. Stifel Nicolaus lifted their price target on shares of Microchip Technology from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. UBS Group reduced their price target on Microchip Technology from $105.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. Evercore ISI began coverage on Microchip Technology in a report on Tuesday, April 16th. They issued an “outperform” rating and a $106.00 price objective for the company. Finally, Piper Sandler lowered Microchip Technology from an “overweight” rating to a “neutral” rating and set a $80.00 target price on the stock. in a report on Thursday, January 4th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus target price of $92.50.

Insider Transactions at Microchip Technology

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

Microchip Technology Stock Performance

NASDAQ MCHP opened at $83.53 on Tuesday. Microchip Technology Incorporated has a fifty-two week low of $68.75 and a fifty-two week high of $94.30. The stock has a market cap of $45.14 billion, a PE ratio of 19.52, a PEG ratio of 2.49 and a beta of 1.65. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 0.98. The firm’s fifty day moving average price is $86.50 and its two-hundred day moving average price is $84.41.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The business’s revenue for the quarter was down 18.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.48 EPS. On average, equities analysts expect that Microchip Technology Incorporated will post 4.64 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.80 annualized dividend and a dividend yield of 2.15%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.44. Microchip Technology’s dividend payout ratio (DPR) is presently 42.06%.

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.