Shares of Microchip Technology Incorporated (NASDAQ: MCHP) acquired by Gilbert & Cook Inc.
increased its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP – Free Report) by 8.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,354 shares of the semiconductor company after purchasing an additional 421 shares during the period. Gilbert & Cook Inc.’s holdings in Microchip Technology were worth $483,000 in its most recent SEC filing.
Other hedge funds also bought and sold shares in the company. Horizon Bancorp Inc. IN acquired a new position in Microchip Technology in the fourth quarter worth about $110,000. Rockline Wealth Management LLC purchased a new position in Microchip Technology in the fourth quarter worth about $4,449,000. 17 Capital Partners LLC purchased a new position in Microchip Technology in the fourth quarter worth about $1,827,000. AIA Group Ltd increased its stake in Microchip Technology by 80.4% in the fourth quarter. AIA Group Ltd now owns 29,910 shares of the semiconductor company’s stock worth $2,697,000 after purchasing an additional 13,326 shares in the last quarter. Finally, GAM Holding AG increased its stake in Microchip Technology by 13.9% in the fourth quarter. GAM Holding AG now owns 145,575 shares of the semiconductor company’s stock worth $13,128,000 after purchasing an additional 17,776 shares in the last quarter. 91.51% of the shares are currently owned by institutional investors and hedge funds.
Microchip Technology Stock Performance
MCHP opened at $97.23 on Monday. Microchip Technology Incorporated has a twelve month low of $68.75 and a twelve month high of $100.57. The stock has a market cap of $52.20 billion, a PE ratio of 28.02 and a beta of 1.60. The company’s 50-day moving average is $91.10 and its 200-day moving average is $87.99. The company has a current ratio of 1.20, a quick ratio of 0.67 and a debt ratio of 0.75.
Microchip Technology (NASDAQ:MCHP – Get Free Report) last announced earnings results on Monday, May 6th. The semiconductor company reported earnings per share of $0.57 for the quarter, meeting the consensus estimate of $0.57. Microchip Technology had a return on equity of 36.78% and a net margin of 24.98%. The company had revenue of $1.33 billion for the quarter, compared to analyst expectations of $1.33 billion. During the same quarter last year, the company earned $1.56 per share. The company’s quarterly revenue fell 40.6% compared to the same quarter last year. On average, analysts predict that Microchip Technology Incorporated will post 2.35 earnings per share for the current year.
Microchip Technology Increases Dividends
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 22 will receive a dividend of $0.452 per share. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date for this dividend is Tuesday, May 21st. This represents an annualized dividend of $1.81 and a yield of 1.86%. Microchip Technology’s payout ratio is currently 52.16%.
Analyst upgrades and downgrades
Several research firms have recently commented on MCHP. TD Cowen raised their price target on Microchip Technology from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Tuesday, May 7. Needham & Company LLC raised their price target on shares of Microchip Technology from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, May 7. KeyCorp increased their price target on shares of Microchip Technology from $90.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7. Mizuho raised shares of Microchip Technology from a “neutral” rating to a “buy” rating and increased their price target on the stock from $85.00 to $115.00 in a report on Friday, 24 May. Finally, B. Riley increased their price target on shares of Microchip Technology from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.06.
See our latest stock analysis on MCHP
Internal buying and selling
In related news, Vice President Stephen V. Drehobl sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of US$90.88, totaling a transaction of US$908,800.00. After the sale, the vice president now owns 82,203 shares of the company, valued at US$7,470,608.64. The sale was disclosed in a filing with the SEC, which is available on the SEC website. In other Microchip Technology news, Vice President Stephen V. Drehobl sold 10,000 shares of Microchip Technology stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of US$90.88, for a total value of US$908,800.00. Following the transaction, the vice president now owns 82,203 shares of the company’s stock, valued at US$7,470,608.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. Additionally, Vice President Stephen V. Drehobl sold 7,830 shares of Microchip Technology stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $95.06, for a total transaction of $744,319.80. Following the completion of the transaction, the vice president now owns 79,509 shares of the company’s stock, valued at approximately $7,558,125.54. Disclosure of this sale can be found here. Insiders sold a total of 21,018 shares of the company’s stock valued at $1,971,856 in the last quarter. Corporate insiders own 2.07% of the company’s shares.
Microchip Technology Company Profile
(Free Report)
Microchip Technology Incorporated develops, manufactures and sells smart, connected and secure integrated control solutions in the Americas, Europe and Asia. The company offers 8-, 16-, and 32-bit general-purpose microcontrollers; Built-in 32-bit 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.
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