Raymond James Trust N.A. Acquires 1,332 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Raymond James Trust N.A. lifted its holdings in Microchip Technology Incorporated (NASDAQ:MCHPFree Report) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,875 shares of the semiconductor company’s stock after purchasing an additional 1,332 shares during the quarter. Raymond James Trust N.A.’s holdings in Microchip Technology were worth $2,243,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Dynamic Advisor Solutions LLC lifted its position in shares of Microchip Technology by 13.2% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 12,836 shares of the semiconductor company’s stock worth $1,078,000 after purchasing an additional 1,493 shares in the last quarter. Marshall Financial Group LLC bought a new stake in shares of Microchip Technology in the fourth quarter worth $873,000. Bruce G. Allen Investments LLC bought a new stake in shares of Microchip Technology in the fourth quarter worth $88,000. BKM Wealth Management LLC bought a new stake in shares of Microchip Technology in the fourth quarter worth $73,000. Finally, Creative Financial Designs Inc. ADV lifted its position in shares of Microchip Technology by 998.8% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 934 shares of the semiconductor company’s stock worth $84,000 after purchasing an additional 849 shares in the last quarter. Institutional investors own 90.85% of the company’s stock.

Wall Street Analyst Weigh In

MCHP has been the topic of a number of research reports. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price objective on shares of Microchip Technology in a research report on Tuesday, January 30th. Wolfe Research upgraded shares of Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 price objective on the stock in a report on Thursday, January 18th. Needham & Company LLC upped their price objective on shares of Microchip Technology from $85.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 2nd. The Goldman Sachs Group decreased their price objective on shares of Microchip Technology from $87.00 to $77.00 and set a “neutral” rating on the stock in a report on Friday, February 2nd. Finally, Susquehanna decreased their price objective on shares of Microchip Technology from $105.00 to $100.00 and set a “positive” rating on the stock in a report on Friday, February 2nd. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $91.33.

View Our Latest Report on Microchip Technology

Microchip Technology Trading Up 1.2 %

MCHP opened at $88.34 on Thursday. Microchip Technology Incorporated has a twelve month low of $68.75 and a twelve month high of $94.30. The company has a 50-day simple moving average of $86.01 and a 200 day simple moving average of $82.91. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $47.74 billion, a price-to-earnings ratio of 20.64, a P/E/G ratio of 1.56 and a beta of 1.65.

Microchip Technology (NASDAQ:MCHPGet Free Report) last posted its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share 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 quarter in the prior year, the business posted $1.48 earnings per share. Microchip Technology’s revenue was down 18.6% compared to the same quarter last year. Analysts predict that Microchip Technology Incorporated will post 4.64 EPS for the current fiscal year.

Microchip Technology Increases Dividend

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

Insider Transactions at Microchip Technology

In other news, Director Karlton D. Johnson sold 370 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total value of $31,080.00. Following the completion of the transaction, the director now 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 can be accessed through this hyperlink. In other news, Director Karlton D. Johnson sold 370 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total value of $31,080.00. Following the completion of the transaction, the director now 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 can be accessed through this hyperlink. Also, CFO James Eric Bjornholt sold 1,970 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $83.90, for a total transaction of $165,283.00. Following the completion of the transaction, the chief financial officer now directly owns 32,893 shares of the company’s stock, valued at approximately $2,759,722.70. The disclosure for this sale can be found here. Company insiders own 2.07% of the company’s stock.

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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