Anchor Investment Management LLC acquired a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP – Free Report ) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 1,400 shares of the semiconductor company’s stock, valued at approximately $126,000.
Other institutional investors have also made changes to their positions in the company. Fund Management at Engine No. 1 LLC boosted its stake in Microchip Technology by 7.3% in the second quarter. Fund Management at Engine No. 1 LLC now owns 7,128 shares of the semiconductor company’s stock valued at $639,000 after purchasing an additional 488 shares in the last quarter. Equis Capital Management Inc. lifted its position in shares of Microchip Technology by 14.9% in the second quarter. Equis Capital Management Inc. now owns 10,429 shares of the semiconductor company’s stock valued at $934,000 after purchasing an additional 1,356 shares during the period. Mercer Global Advisors Inc. ADV raised its position in shares of Microchip Technology by 85.3% during the second quarter. Mercer Global Advisors Inc. ADV now owns 355,137 shares of the semiconductor company’s stock valued at $31,817,000 after purchasing an additional 163,437 shares during the last quarter. iA Global Asset Management Inc. boosted its holdings in Microchip Technology by 26.5% in the third quarter. iA Global Asset Management Inc. now owns 81,124 shares of the semiconductor company’s stock valued at $6,332,000 after purchasing an additional 16,984 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in Microchip Technology by 8.5% in the third quarter. Janney Montgomery Scott LLC now owns 95,442 shares of the semiconductor company’s stock valued at $7,449,000 after buying an additional 7,442 shares during the last quarter. 90.85% of the shares are currently owned by institutional investors.
Microchip Technology Price Performance
Shares of MCHP stock opened at $88.64 on Monday. Microchip Technology Incorporated has a 12-month low of $68.75 and a 12-month high of $94.30. The stock has a market cap of $47.90 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 1.62 and a beta of 1.65. The company has a current ratio of 0.98, a quick ratio of 0.58, and a debt-to-equity ratio of 0.57. The firm’s 50-day moving average is $85.86, and its 200-day moving average is $82.80.
Microchip Technology (NASDAQ:MCHP – Get Your Free Report ) last posted its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.04. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period last year, the company earned $1.48 earnings per share. The business’s revenue for the quarter was down 18.6% compared to the same quarter last year. As a group, equities analysts predict that Microchip Technology Incorporated will post 4.64 earnings per share for the current year.
Microchip technology increases the dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were given a $0.45 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.44. This represents an annualized dividend of $1.80 and a dividend yield of 2.03%. Microchip Technology’s dividend payout ratio (DPR) is 42.06%.
Changes in analyst ratings
Several equities analysts have issued reports on MCHP shares. Truist Financial decreased their target price on shares of Microchip Technology from $97.00 to $93.00 and set a “buy” rating on the stock in a report on Tuesday, January 9th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 target price on shares of Microchip Technology in a research note on Tuesday, January 30th. Stifel Nicolaus reduced their target price on shares of Microchip Technology from $96.00 to $94.00 and set a “buy” rating for the company in a research note on Friday, February 2nd. Piper Sandler cut Microchip Technology from an “overweight” rating to a “neutral” rating and set a $80.00 target price on the stock. in a research report on Thursday, January 4th. Finally, TD Cowen boosted their price objective on shares of Microchip Technology from $75.00 to $80.00 and gave the stock a “market perform” rating in a report on Friday, February 2nd. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Microchip Technology currently has an average rating of “Moderate Buy” and a consensus target price of $91.33, according to MarketBeat.com.
Check out our latest analysis of MCHP stock
Internal work at Microchip Technology
In related news, Director Carlton D. Johnson sold 370 shares of Microchip Technology stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total transaction of $31,080.00. Upon completion of the sale, the director now owns 1,789 shares in the company, valued at approximately $150,276. The sale was disclosed in a filing with the Securities and Exchange Commission, which is available at this link. In other news, CFO James Eric Bjornholt sold 1,970 shares of Microchip Technology stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $83.90, for a total value of $165,283.00. Following the transaction, the chief financial officer now owns 32,893 shares of the company’s stock, valued at approximately $2,759,722.70. The sale was disclosed in a legal filing with the SEC, which can be accessed via this link. Also, Director Carlton D. Johnson sold 370 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $84.00 for a total value of $31,080.00. Following the transaction, the director now directly owns 1,789 shares in the company, valued at $150,276. Disclosure of this sale can be found here. 2.07% of shares are owned by insiders.
Microchip Technology Profile
(Free report)
Microchip Technology Incorporated develops, manufactures and markets intelligent, connected and secure embedded control solutions in the Americas, Europe and Asia. The company offers 8-bit, 16-bit, and 32-bit general-purpose microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computer, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.
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