Signaturefd LLC Buys 185 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Signaturefd LLC lifted its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 1.7% during the 4th quarter, Holdings Channel reports. The firm owned 10,897 shares of the semiconductor company’s stock after acquiring an additional 185 shares during the period. Signaturefd LLC’s holdings in Microchip Technology were worth $983,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. abrdn plc increased its position in shares of Microchip Technology by 57.5% in the fourth quarter. abrdn plc now owns 225,979 shares of the semiconductor company’s stock valued at $20,379,000 after acquiring an additional 82,536 shares during the period. Onyx Bridge Wealth Group LLC purchased a new position in shares of Microchip Technology during the fourth quarter valued at approximately $229,000. Wetzel Investment Advisors Inc. purchased a new stake in Microchip Technology in the fourth quarter worth $124,000. Greenleaf Trust boosted its holdings in Microchip Technology by 2.4% in the fourth quarter. Greenleaf Trust now owns 31,499 shares of the semiconductor company’s stock valued at $2,841,000 after acquiring an additional 729 shares in the last quarter. Finally, Fidelis Capital Partners LLC increased its position in Microchip Technology by 16.7% during the 4th quarter. Fidelis Capital Partners LLC now owns 4,883 shares of the semiconductor company’s stock valued at $440,000 after purchasing an additional 697 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Price Performance

NASDAQ MCHP opened at $83.53 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 0.98. The company has a market capitalization of $45.14 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 2.49 and a beta of 1.65. The stock has a 50-day moving average of $86.50 and a 200 day moving average of $84.41. Microchip Technology Incorporated has a one year low of $68.75 and a one year high of $94.30.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data 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. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The firm’s quarterly revenue was down 18.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.48 earnings per share. On average, sell-side analysts forecast that Microchip Technology Incorporated will post 4.64 EPS for the current year.

Microchip Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were paid a dividend of $0.45 per share. This is an increase 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 2.15%. The ex-dividend date of this dividend was Thursday, February 22nd. Microchip Technology’s payout ratio is currently 42.06%.

Insider Activity

In related news, Director Karlton D. Johnson sold 370 shares of the business’s stock in a transaction that occurred on 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO James Eric Bjornholt sold 1,970 shares of the stock in a transaction that occurred 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 completion of 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Karlton D. Johnson sold 370 shares of Microchip Technology stock in a transaction that occurred on Tuesday, February 6th. The shares were 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 approximately $150,276. The disclosure for this sale can be found here. Insiders own 2.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Stifel Nicolaus raised their target price on shares of Microchip Technology from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Needham & Company LLC increased their target price on Microchip Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Susquehanna restated a “positive” rating and issued a $100.00 target price on shares of Microchip Technology in a research note on Monday, April 8th. UBS Group reduced their target price on shares of Microchip Technology from $105.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. Finally, Piper Sandler lowered shares of Microchip Technology from an “overweight” rating to a “neutral” rating and set a $80.00 price target for the company. in a research note on Thursday, January 4th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $92.50.

Microchip Technology Company 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.