Microchip Technology Incorporated (NASDAQ:MCHP) Stake Raised by Buttonwood Financial Advisors Inc.

Buttonwood Financial Advisors Inc. boosted its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 4.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,074 shares of the semiconductor company’s stock after buying an additional 1,552 shares during the quarter. Microchip Technology accounts for about 2.1% of Buttonwood Financial Advisors Inc.’s portfolio, making the stock its 10th largest holding. Buttonwood Financial Advisors Inc.’s holdings in Microchip Technology were worth $3,411,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Optimum Investment Advisors acquired a new stake in shares of Microchip Technology during the 1st quarter worth approximately $29,000. Almanack Investment Partners LLC. purchased a new position in Microchip Technology during the third quarter worth approximately $29,000. Live Oak Investment Partners acquired a new position in shares of Microchip Technology during the 4th quarter worth approximately $30,000. VitalStone Financial LLC purchased a new position in Microchip Technology during the first quarter valued at $38,000. Finally, Milestone Investment Advisors LLC purchased a new position in Microchip Technology in the 1st quarter valued at about $39,000. 90.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,363 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $78.63, for a total value of $185,802.69. Following the sale, the chief financial officer now directly owns 32,004 shares in the company, valued at $2,516,474.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.07% of the company’s stock.

Microchip Technology Stock Down 3.0 %

Shares of NASDAQ:MCHP traded down $2.40 during trading on Friday, hitting $77.63. The company’s stock had a trading volume of 8,587,264 shares, compared to its average volume of 4,858,932. The company has a market capitalization of $42.26 billion, a PE ratio of 17.97, a P/E/G ratio of 1.12 and a beta of 1.63. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.60 and a current ratio of 1.02. Microchip Technology Incorporated has a fifty-two week low of $54.77 and a fifty-two week high of $94.30. The business has a 50 day moving average price of $84.82 and a two-hundred day moving average price of $81.73.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $1.64 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.64. Microchip Technology had a return on equity of 51.51% and a net margin of 27.35%. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter last year, the business posted $1.30 EPS. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. As a group, research analysts expect that Microchip Technology Incorporated will post 5.8 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Tuesday, August 22nd were given a $0.41 dividend. The ex-dividend date of this dividend was Monday, August 21st. This is an increase from Microchip Technology’s previous quarterly dividend of $0.38. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.11%. Microchip Technology’s dividend payout ratio is currently 37.96%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MCHP. Truist Financial lifted their price target on Microchip Technology from $95.00 to $104.00 and gave the stock a “buy” rating in a research note on Friday, July 14th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Microchip Technology in a research note on Monday, August 7th. Susquehanna dropped their price objective on shares of Microchip Technology from $105.00 to $100.00 and set a “positive” rating for the company in a research note on Friday, August 4th. Mizuho lowered their target price on Microchip Technology from $89.00 to $86.00 and set a “neutral” rating on the stock in a report on Friday, August 4th. Finally, Morgan Stanley lifted their price objective on Microchip Technology from $97.00 to $101.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $98.18.

About Microchip Technology

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.