Aptus Capital Advisors LLC Purchases Shares of 2,605 Microchip Technology Incorporated (NASDAQ:MCHP)

Aptus Capital Advisors LLC bought a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHPFree Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,605 shares of the semiconductor company’s stock, valued at approximately $203,000.

Several other institutional investors also recently made changes to their positions in MCHP. Norges Bank bought a new position in Microchip Technology in the 4th quarter worth approximately $412,120,000. Prudential Financial Inc. grew its holdings in Microchip Technology by 98.5% in the 1st quarter. Prudential Financial Inc. now owns 2,056,405 shares of the semiconductor company’s stock worth $154,518,000 after buying an additional 1,020,624 shares in the last quarter. Virginia Retirement Systems ET AL bought a new position in Microchip Technology in the 2nd quarter worth approximately $69,092,000. Bank of Montreal Can bought a new position in Microchip Technology in the 2nd quarter worth approximately $59,252,000. Finally, Findlay Park Partners LLP grew its holdings in Microchip Technology by 60.5% in the 2nd quarter. Findlay Park Partners LLP now owns 1,458,247 shares of the semiconductor company’s stock worth $130,644,000 after buying an additional 549,485 shares in the last quarter. 90.85% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Karlton 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 of the company’s stock, valued at $150,276. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO James Eric Bjornholt sold 2,324 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $83.44, for a total value of $193,914.56. Following the transaction, the chief financial officer now directly owns 32,893 shares of the company’s stock, valued at $2,744,591.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Karlton D. Johnson sold 370 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total transaction of $31,080.00. Following the completion of the transaction, the director now directly owns 1,789 shares in the company, valued at $150,276. The disclosure for this sale can be found here. Corporate insiders own 2.07% of the company’s stock.

Microchip Technology Price Performance

Shares of NASDAQ:MCHP opened at $83.95 on Tuesday. The stock has a fifty day moving average of $87.34 and a 200-day moving average of $82.48. The company has a market capitalization of $45.37 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 1.51 and a beta of 1.67. Microchip Technology Incorporated has a one year low of $68.75 and a one year high of $94.30. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 0.98.

Microchip Technology (NASDAQ:MCHPGet Free Report) last released its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.77 billion. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The company’s revenue for the quarter was down 18.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.48 earnings per share. As a group, equities analysts anticipate that Microchip Technology Incorporated will post 4.68 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 8th. Stockholders of record on Friday, February 23rd will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.14%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.44. Microchip Technology’s dividend payout ratio is presently 41.12%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MCHP shares. TD Cowen increased their price objective on Microchip Technology from $75.00 to $80.00 and gave the stock a “market perform” rating in a report on Friday, February 2nd. StockNews.com downgraded Microchip Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 29th. Citigroup upgraded Microchip Technology from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Wednesday, November 8th. UBS Group cut their target price on Microchip Technology from $105.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, February 2nd. Finally, Susquehanna cut their target price on Microchip Technology from $105.00 to $100.00 and set a “positive” rating for the company in a research report on Friday, February 2nd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.33.

View Our Latest Report on MCHP

About Microchip Technology

(Free Report)

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.

Further Reading

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

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