Hexagon Capital Partners LLC Purchases 172 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Hexagon Capital Partners LLC raised its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 39.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 611 shares of the semiconductor company’s stock after purchasing an additional 172 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Microchip Technology were worth $55,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. OFI Invest Asset Management purchased a new stake in shares of Microchip Technology during the 3rd quarter valued at about $26,000. BKM Wealth Management LLC purchased a new stake in shares of Microchip Technology during the 4th quarter valued at about $27,000. Rakuten Securities Inc. purchased a new stake in shares of Microchip Technology during the 4th quarter valued at about $27,000. Fortitude Family Office LLC purchased a new position in shares of Microchip Technology in the fourth quarter worth approximately $29,000. Finally, Milestone Investment Advisors LLC purchased a new position in shares of Microchip Technology in the third quarter worth approximately $36,000. 91.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Microchip Technology news, 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 value of $165,283.00. Following the completion of the transaction, the chief financial officer now directly owns 32,893 shares in the company, valued at $2,759,722.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Microchip Technology news, 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 value of $165,283.00. Following the completion of the transaction, the chief financial officer now directly owns 32,893 shares in the company, valued at $2,759,722.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karlton D. Johnson sold 370 shares of the company’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 transaction, the director now owns 1,789 shares in the company, valued at approximately $150,276. The disclosure for this sale can be found here. 2.07% of the stock is owned by insiders.

Microchip Technology Stock Up 0.8 %

NASDAQ:MCHP opened at $89.46 on Friday. Microchip Technology Incorporated has a 1-year low of $68.75 and a 1-year high of $94.63. The company has a 50-day moving average of $87.88 and a 200 day moving average of $84.95. The firm has a market cap of $48.34 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 2.71 and a beta of 1.60. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.58.

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, 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 company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the firm earned $1.48 earnings per share. The firm’s revenue for the quarter was down 18.6% compared to the same quarter last year. As a group, research analysts anticipate that Microchip Technology Incorporated will post 4.64 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on MCHP shares. Needham & Company LLC raised their price objective on shares of Microchip Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Stifel Nicolaus lifted their price target on shares of Microchip Technology from $98.00 to $102.00 and gave the company a “buy” rating in a report on Wednesday. Wolfe Research upgraded shares of Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 price target on the stock in a research report on Thursday, January 18th. Susquehanna restated a “positive” rating and issued a $100.00 price target on shares of Microchip Technology in a research report on Monday, April 8th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $100.00 price target on shares of Microchip Technology in a research report on Tuesday, January 30th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.75.

About Microchip Technology

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.