Wrapmanager Inc. Buys 215 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Wrapmanager Inc. lifted its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,850 shares of the semiconductor company’s stock after buying an additional 215 shares during the quarter. Wrapmanager Inc.’s holdings in Microchip Technology were worth $528,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new position in shares of Microchip Technology in the 3rd quarter valued at about $26,000. BKM Wealth Management LLC acquired a new position in Microchip Technology during the fourth quarter worth approximately $27,000. Rakuten Securities Inc. bought a new stake in Microchip Technology in the fourth quarter valued at approximately $27,000. Fortitude Family Office LLC acquired a new stake in shares of Microchip Technology in the fourth quarter valued at approximately $29,000. Finally, Milestone Investment Advisors LLC bought a new position in shares of Microchip Technology during the 3rd quarter worth approximately $36,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Susquehanna increased their price target on Microchip Technology from $100.00 to $105.00 and gave the company a “positive” rating in a research note on Tuesday. B. Riley lifted their target price on shares of Microchip Technology from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday. TD Cowen increased their price target on shares of Microchip Technology from $80.00 to $90.00 and gave the company a “hold” rating in a report on Tuesday. Mizuho boosted their price objective on Microchip Technology from $82.00 to $85.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Evercore ISI began coverage on Microchip Technology in a research note on Tuesday, April 16th. They set an “outperform” rating and a $106.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus price target of $98.47.

Insider Buying and Selling

In other Microchip Technology news, CFO James Eric Bjornholt sold 1,970 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $83.90, for a total transaction of $165,283.00. Following the completion of the transaction, 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 SEC, which can be accessed through this hyperlink. 2.07% of the stock is owned by corporate insiders.

Microchip Technology Price Performance

Microchip Technology stock traded down $0.51 during trading hours on Thursday, reaching $91.48. 3,904,925 shares of the stock were exchanged, compared to its average volume of 5,617,005. The company has a current ratio of 0.98, a quick ratio of 0.58 and a debt-to-equity ratio of 0.57. Microchip Technology Incorporated has a twelve month low of $68.75 and a twelve month high of $96.14. The company has a market cap of $49.44 billion, a P/E ratio of 21.37, a price-to-earnings-growth ratio of 2.79 and a beta of 1.60. The stock has a 50 day moving average of $88.79 and a two-hundred day moving average of $85.46.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Monday, May 6th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the business posted $1.56 EPS. The firm’s revenue for the quarter was down 40.6% on a year-over-year basis. 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 will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd will be issued a dividend of $0.452 per share. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $1.81 dividend on an annualized basis and a dividend yield of 1.98%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s payout ratio is 42.06%.

Microchip Technology Company Profile

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.