Dfpg Investments LLC Has $1.38 Million Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Dfpg Investments LLC raised its position in Microchip Technology Incorporated (NASDAQ:MCHPFree Report) by 15.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,367 shares of the semiconductor company’s stock after acquiring an additional 2,135 shares during the quarter. Dfpg Investments LLC’s holdings in Microchip Technology were worth $1,384,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in MCHP. Benson Investment Management Company Inc. boosted its holdings in shares of Microchip Technology by 0.6% during the 4th quarter. Benson Investment Management Company Inc. now owns 49,280 shares of the semiconductor company’s stock worth $4,444,000 after buying an additional 298 shares during the period. Wedmont Private Capital boosted its holdings in shares of Microchip Technology by 15.4% during the 4th quarter. Wedmont Private Capital now owns 4,700 shares of the semiconductor company’s stock worth $403,000 after buying an additional 628 shares during the period. Bartlett & CO. Wealth Management LLC boosted its holdings in shares of Microchip Technology by 3.1% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 9,591 shares of the semiconductor company’s stock worth $871,000 after buying an additional 286 shares during the period. WealthPLAN Partners LLC boosted its holdings in Microchip Technology by 6.5% in the 4th quarter. WealthPLAN Partners LLC now owns 47,000 shares of the semiconductor company’s stock valued at $4,238,000 after purchasing an additional 2,889 shares during the period. Finally, WealthPlan Investment Management LLC boosted its holdings in Microchip Technology by 6.8% in the 4th quarter. WealthPlan Investment Management LLC now owns 46,894 shares of the semiconductor company’s stock valued at $4,229,000 after purchasing an additional 3,000 shares during the period. Institutional investors and hedge funds own 90.85% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on MCHP. Truist Financial cut their price objective on shares of Microchip Technology from $97.00 to $93.00 and set a “buy” rating for the company in a report on Tuesday, January 9th. Wolfe Research raised shares of Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 price objective for the company in a report on Thursday, January 18th. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price objective on shares of Microchip Technology in a report on Tuesday, January 30th. Stifel Nicolaus reissued a “buy” rating and issued a $94.00 price objective on shares of Microchip Technology in a report on Thursday, March 14th. Finally, StockNews.com cut shares of Microchip Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 29th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.33.

View Our Latest Stock Report on Microchip Technology

Insider Activity

In other news, CFO James Eric Bjornholt sold 1,970 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly owns 32,893 shares of the company’s stock, valued at approximately $2,759,722.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO James Eric Bjornholt sold 1,970 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $83.90, for a total transaction of $165,283.00. Following the transaction, the chief financial officer now directly 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. Also, Director Karlton D. Johnson sold 370 shares of the 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 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. Insiders own 2.07% of the company’s stock.

Microchip Technology Trading Down 0.6 %

MCHP opened at $88.08 on Tuesday. Microchip Technology Incorporated has a fifty-two week low of $68.75 and a fifty-two week high of $94.30. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.58. The firm has a market capitalization of $47.60 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 1.58 and a beta of 1.65. The company’s 50 day moving average price is $85.91 and its two-hundred day moving average price is $82.84.

Microchip Technology (NASDAQ:MCHPGet Free Report) last posted its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the firm posted $1.48 EPS. The company’s revenue for the quarter was down 18.6% compared to the same quarter last year. As a group, research analysts predict that Microchip Technology Incorporated will post 4.64 earnings per share for the current year.

Microchip Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were paid a $0.45 dividend. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.44. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date was Thursday, February 22nd. Microchip Technology’s dividend payout ratio is currently 42.06%.

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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