RFG Advisory LLC increased its holdings in Microchip Technology Inc. (NASDAQ:MCHP – Free Report ) by 228.4% in the first quarter, according to its latest Form 13F filing with the Securities and Exchange Commission. The fund acquired an additional 8,931 shares during the quarter, giving it a total holdings of 12,841 shares of the semiconductor company. RFG Advisory LLC’s holdings of Microchip Technology Inc. are worth $1,152,000 as of the latest filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings in the company. Bleakley Financial Group LLC increased its holdings in shares of Microchip Technology by 1.3% in the fourth quarter. Bleakley Financial Group LLC now owns 9,415 shares of the semiconductor company’s stock valued at $849,000 after purchasing an additional 119 shares in the last quarter. Twelve Points Wealth Management LLC increased its holdings in Microchip Technology by 1.0% in the fourth quarter. Twelve Points Wealth Management LLC now owns 12,229 shares of the semiconductor company’s stock valued at $1,103,000 after purchasing an additional 125 shares during the period. FFT Wealth Management LLC increased its holdings in Microchip Technology by 4.4% in the fourth quarter. FFT Wealth Management LLC now holds 3,730 shares of the semiconductor company’s stock valued at $336,000 after acquiring an additional 158 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in Microchip Technology by 9.7% in the third quarter. Parkside Financial Bank & Trust now holds 1,824 shares of the semiconductor company’s stock valued at $142,000. It acquired an additional 162 shares during the period. Finally, Carl P. Sherr & Co. LLC increased its holdings in Microchip Technology by 1.4% in the fourth quarter. Carl P. Sherr & Co. LLC now holds 11,570 shares of the semiconductor company’s stock valued at $1,043,000. 91.51% of the stock is currently held by institutional investors.
Microchip Technology Price Performance
Shares of NASDAQ:MCHP opened trading at $91.58 on Friday. The company has a market cap of $49.17 billion, a price-to-earnings ratio of 26.39 and a beta of 1.55. The company’s 50-day simple moving average is $92.48 and its 200-day simple moving average is $88.99. Microchip Technology Incorporated’s 52-week low is $68.75 and its 52-week high is $100.57. The company’s debt-to-equity ratio is 0.75, quick ratio is 0.67 and current ratio is 1.20.
Microchip Technology (NASDAQ:MCHP – Get free report ) last released its quarterly earnings data on Monday, May 6th. The semiconductor company reported quarterly EPS of $0.57, hitting the consensus estimate of $0.57. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Microchip Technology’s ROE was 36.78%, with a net margin of 24.98%. Microchip Technology’s revenue was down 40.6% compared to the same period last year. During the same period last year, the company posted earnings per share of $1.56. Analysts on average expect Microchip Technology Incorporated to post earnings per share of $2.35 this year.
Microchip Technology Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd were paid a dividend of $0.452 per share. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. On an annualized basis, this equates to a dividend of $1.81 and a yield of 1.97%. The ex-dividend date for this dividend was Tuesday, May 21st. Microchip Technology’s dividend payout ratio is currently 52.16%.
Insiders bet
In other Microchip Technology news, Director Matthew W. Chapman sold 2,748 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $93.88, for a total transaction value of $257,982.24. Following the completion of the sale, the director now owns 35,682 shares of the company’s stock, valued at $3,349,826.16. The transaction was disclosed in a filing with the Securities and Exchange Commission, which can be accessed on the SEC’s website. In other Microchip Technology news, CFO James Eric Bjornholt sold 3,188 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $99.98, for a total transaction value of $318,736.24. Following the completion of the sale, the Chief Financial Officer now owns 33,257 shares of the company’s stock, valued at approximately $3,325,034.86. The sale was disclosed in a document filed with the Securities and Exchange Commission, which is available at this link. Additionally, Director, Matthew W. Chapman sold 2,748 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $93.88, for a total value of $257,982.24. Following the sale, the director now directly owns 35,682 shares of the company’s stock, valued at $3,349,826.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,993 shares of the company’s stock, valued at $2,251,857. Company insiders own 2.07% of the company’s shares.
What Wall Street analysts are saying
MCHP has been the subject of numerous analyst reports. KeyCorp raised their price target on Microchip Technology from $90.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, May 7th. B. Riley raised their price target on Microchip Technology from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Truist Financial raised their price target on Microchip Technology from $93.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Stifel Nicolaus raised their price target on Microchip Technology from $98.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Piper Sandler reiterated a “neutral” rating and increased their price target on shares of Microchip Technology from $80.00 to $90.00 in a research report on Tuesday, May 7. Five equities research analysts have rated the stock with a hold rating, and fourteen have assigned a buy rating to the stock. According to MarketBeat data, the company currently has an average rating of a “moderate buy” and an average target price of $101.06.
Check out our latest stock analysis for Microchip Technology
Microchip Technology Profile
(Free report)
Microchip Technology Incorporated develops, manufactures and sells smart, connected and secure embedded control solutions throughout 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 specialty microcontrollers for automotive, industrial, computing, communications, lighting, power, motor control, human machine interface, security and wired and wireless connectivity applications.
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