Simplicity Solutions LLC Buys 368 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Simplicity Solutions LLC boosted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,136 shares of the semiconductor company’s stock after purchasing an additional 368 shares during the quarter. Simplicity Solutions LLC’s holdings in Microchip Technology were worth $1,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Panagora Asset Management Inc. boosted its position in shares of Microchip Technology by 31.8% in the 1st quarter. Panagora Asset Management Inc. now owns 21,731 shares of the semiconductor company’s stock worth $1,633,000 after purchasing an additional 5,237 shares in the last quarter. Cibc World Market Inc. increased its holdings in shares of Microchip Technology by 292.9% during the first quarter. Cibc World Market Inc. now owns 44,324 shares of the semiconductor company’s stock valued at $3,331,000 after acquiring an additional 33,044 shares in the last quarter. Vontobel Holding Ltd. raised its position in shares of Microchip Technology by 4.1% in the 1st quarter. Vontobel Holding Ltd. now owns 29,572 shares of the semiconductor company’s stock valued at $2,259,000 after purchasing an additional 1,159 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in Microchip Technology by 34.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 4,455 shares of the semiconductor company’s stock worth $335,000 after purchasing an additional 1,133 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its position in Microchip Technology by 1,272.4% during the 1st quarter. Loomis Sayles & Co. L P now owns 326,717 shares of the semiconductor company’s stock worth $24,550,000 after purchasing an additional 302,910 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Transactions at Microchip Technology

In other news, CFO James Eric Bjornholt sold 1,970 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was 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 in the company, valued at approximately $2,759,722.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Karlton D. Johnson sold 370 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total transaction of $31,080.00. Following the completion of the sale, the director now directly owns 1,789 shares in the company, valued at $150,276. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO James Eric Bjornholt sold 1,970 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were 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 owns 32,893 shares in the company, valued at $2,759,722.70. The disclosure for this sale can be found here. Insiders own 2.07% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on MCHP. The Goldman Sachs Group decreased their price target on shares of Microchip Technology from $87.00 to $77.00 and set a “neutral” rating for the company in a report on Friday, February 2nd. StockNews.com cut Microchip Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 29th. Piper Sandler lowered Microchip Technology from an “overweight” rating to a “neutral” rating and set a $80.00 price objective on the stock. in a report on Thursday, January 4th. Needham & Company LLC upped their target price on Microchip Technology from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $94.00 price target on shares of Microchip Technology in a research report on Thursday, March 14th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.33.

Microchip Technology Trading Up 0.1 %

Shares of MCHP stock opened at $85.70 on Tuesday. 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 company has a market cap of $46.31 billion, a price-to-earnings ratio of 20.02, a PEG ratio of 2.61 and a beta of 1.65. Microchip Technology Incorporated has a 1-year low of $68.75 and a 1-year high of $94.30. The stock has a 50 day simple moving average of $86.49 and a 200-day simple moving average of $84.18.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.04. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the business posted $1.48 earnings per share. The business’s quarterly revenue was down 18.6% compared to the same quarter last year. On average, equities research analysts expect that Microchip Technology Incorporated will post 4.64 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.10%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 22nd. Microchip Technology’s dividend payout ratio is 42.06%.

Microchip Technology Profile

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.