J.W. Cole Advisors Inc. Takes $55,000 Position in Microchip Technology Incorporated (NASDAQ:MCHP)

J.W. Cole Advisors Inc. acquired a new stake in Microchip Technology Incorporated (NASDAQ:MCHPGet Rating) in the first quarter, HoldingsChannel reports. The fund acquired 64,398 shares of the semiconductor company’s stock, valued at approximately $55,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Microchip Technology by 28.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 945,812 shares of the semiconductor company’s stock valued at $71,069,000 after acquiring an additional 211,679 shares during the period. Neuberger Berman Group LLC grew its position in shares of Microchip Technology by 39.1% in the 1st quarter. Neuberger Berman Group LLC now owns 24,985 shares of the semiconductor company’s stock valued at $1,886,000 after acquiring an additional 7,022 shares during the period. EP Wealth Advisors LLC grew its position in shares of Microchip Technology by 17.5% in the 1st quarter. EP Wealth Advisors LLC now owns 7,328 shares of the semiconductor company’s stock valued at $551,000 after acquiring an additional 1,092 shares during the period. Toroso Investments LLC lifted its stake in shares of Microchip Technology by 14.5% during the 1st quarter. Toroso Investments LLC now owns 13,231 shares of the semiconductor company’s stock worth $994,000 after buying an additional 1,680 shares during the last quarter. Finally, Baader Bank INC acquired a new stake in shares of Microchip Technology during the 1st quarter worth about $714,000. Institutional investors own 89.81% of the company’s stock.

Microchip Technology Trading Down 2.2 %

Shares of Microchip Technology stock opened at $63.31 on Friday. The firm has a market capitalization of $34.98 billion, a PE ratio of 23.28, a price-to-earnings-growth ratio of 0.82 and a beta of 1.62. The company has a current ratio of 1.78, a quick ratio of 1.17 and a debt-to-equity ratio of 1.27. The firm’s 50 day moving average is $67.40 and its 200 day moving average is $67.11. Microchip Technology Incorporated has a 1 year low of $54.33 and a 1 year high of $90.00.

Microchip Technology (NASDAQ:MCHPGet Rating) last posted its earnings results on Tuesday, August 2nd. The semiconductor company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.10. Microchip Technology had a net margin of 21.34% and a return on equity of 44.90%. During the same quarter last year, the business posted $0.88 EPS. Equities research analysts forecast that Microchip Technology Incorporated will post 5.42 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Shareholders of record on Friday, August 19th were issued a dividend of $0.301 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.90%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, August 18th. Microchip Technology’s payout ratio is presently 44.12%.

Insider Transactions at Microchip Technology

In other news, CFO James Eric Bjornholt sold 2,379 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $68.21, for a total value of $162,271.59. Following the transaction, the chief financial officer now owns 35,333 shares in the company, valued at approximately $2,410,063.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO James Eric Bjornholt sold 2,379 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $68.21, for a total value of $162,271.59. Following the transaction, the chief financial officer now owns 35,333 shares in the company, valued at approximately $2,410,063.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew W. Chapman sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $68.21, for a total transaction of $68,210.00. Following the completion of the transaction, the director now owns 37,682 shares in the company, valued at approximately $2,570,289.22. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MCHP. Cowen raised their target price on shares of Microchip Technology from $60.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 3rd. Cowen raised their target price on shares of Microchip Technology from $60.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 3rd. Mizuho raised their target price on shares of Microchip Technology from $72.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 3rd. The Goldman Sachs Group cut their target price on shares of Microchip Technology from $76.00 to $61.00 in a research note on Friday, July 15th. Finally, Needham & Company LLC raised their target price on shares of Microchip Technology from $75.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.73.

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.

See Also

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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