AE Wealth Management LLC cut its holdings in Microchip Technology Incorporated (NASDAQ:MCHP – Get Rating) by 17.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,881 shares of the semiconductor company’s stock after selling 6,282 shares during the period. AE Wealth Management LLC’s holdings in Microchip Technology were worth $2,245,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Emfo LLC increased its stake in Microchip Technology by 100.0% during the fourth quarter. Emfo LLC now owns 290 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 145 shares during the period. Hoese & Co LLP increased its stake in Microchip Technology by 100.0% during the fourth quarter. Hoese & Co LLP now owns 300 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 150 shares during the period. Catalyst Capital Advisors LLC increased its stake in Microchip Technology by 83.6% during the fourth quarter. Catalyst Capital Advisors LLC now owns 303 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 138 shares during the period. Gradient Investments LLC increased its stake in Microchip Technology by 100.6% during the fourth quarter. Gradient Investments LLC now owns 315 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 158 shares during the period. Finally, TCI Wealth Advisors Inc. increased its stake in Microchip Technology by 142.1% during the fourth quarter. TCI Wealth Advisors Inc. now owns 305 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 179 shares during the period. Institutional investors and hedge funds own 89.36% of the company’s stock.
Several equities analysts recently issued reports on the company. Truist Financial lowered their price target on Microchip Technology from $94.00 to $79.00 and set a “buy” rating on the stock in a research note on Friday, April 8th. Wells Fargo & Company decreased their price objective on Microchip Technology from $80.00 to $70.00 in a report on Tuesday, May 10th. StockNews.com raised Microchip Technology from a “hold” rating to a “buy” rating in a report on Tuesday, May 17th. Stifel Nicolaus raised Microchip Technology from a “hold” rating to a “buy” rating and lifted their price objective for the company from $70.00 to $75.00 in a report on Tuesday, June 28th. Finally, Bank of America decreased their price objective on Microchip Technology from $85.00 to $74.00 and set a “buy” rating on the stock in a report on Wednesday, June 29th. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.20.
Shares of Microchip Technology stock opened at $56.16 on Monday. The firm has a fifty day moving average of $65.36 and a two-hundred day moving average of $71.90. The stock has a market capitalization of $31.14 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 0.88 and a beta of 1.60. Microchip Technology Incorporated has a 52 week low of $55.29 and a 52 week high of $90.00. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.14 and a current ratio of 1.75.
Microchip Technology (NASDAQ:MCHP – Get Rating) last issued its earnings results on Monday, May 9th. The semiconductor company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.17 by $0.09. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Microchip Technology had a net margin of 18.85% and a return on equity of 41.89%. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 EPS. As a group, research analysts forecast that Microchip Technology Incorporated will post 5.14 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 3rd. Investors of record on Friday, May 20th were given a $0.276 dividend. The ex-dividend date was Thursday, May 19th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.97%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.25. Microchip Technology’s dividend payout ratio is currently 48.57%.
In other news, CEO Ganesh Moorthy acquired 8,000 shares of the stock in a transaction that occurred on Friday, June 17th. The stock was acquired at an average price of $57.29 per share, for a total transaction of $458,320.00. Following the transaction, the chief executive officer now directly owns 720,313 shares in the company, valued at $41,266,731.77. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James Eric Bjornholt sold 2,326 shares of the company’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $66.66, for a total transaction of $155,051.16. Following the completion of the sale, the chief financial officer now owns 34,207 shares of the company’s stock, valued at approximately $2,280,238.62. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,564 shares of company stock valued at $637,217. 2.03% of the stock is owned by corporate insiders.
Microchip Technology Profile (Get Rating)
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 microprocessors markets; 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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