Eagle Bluffs Wealth Management LLC Has $740,000 Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Eagle Bluffs Wealth Management LLC lowered its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,202 shares of the semiconductor company’s stock after selling 144 shares during the quarter. Eagle Bluffs Wealth Management LLC’s holdings in Microchip Technology were worth $740,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MCHP. Bleakley Financial Group LLC raised its holdings in Microchip Technology by 1.3% in the 4th quarter. Bleakley Financial Group LLC now owns 9,415 shares of the semiconductor company’s stock valued at $849,000 after buying an additional 119 shares during the last quarter. Aspire Private Capital LLC raised its holdings in Microchip Technology by 3.2% in the 4th quarter. Aspire Private Capital LLC now owns 3,904 shares of the semiconductor company’s stock valued at $274,266,959,000 after buying an additional 120 shares during the last quarter. RFG Advisory LLC raised its holdings in Microchip Technology by 3.2% in the 4th quarter. RFG Advisory LLC now owns 3,910 shares of the semiconductor company’s stock valued at $353,000 after buying an additional 123 shares during the last quarter. Twelve Points Wealth Management LLC raised its holdings in Microchip Technology by 1.0% in the 4th quarter. Twelve Points Wealth Management LLC now owns 12,229 shares of the semiconductor company’s stock valued at $1,103,000 after buying an additional 125 shares during the last quarter. Finally, Merit Financial Group LLC raised its holdings in Microchip Technology by 1.9% in the 3rd quarter. Merit Financial Group LLC now owns 7,096 shares of the semiconductor company’s stock valued at $554,000 after buying an additional 134 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In related news, Director Karlton D. Johnson sold 370 shares of the company’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 value of $31,080.00. Following the transaction, 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 can be accessed through the SEC website. In related news, CFO James Eric Bjornholt sold 1,970 shares of the company’s 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 transaction, the chief financial officer now directly owns 32,893 shares in the company, valued at $2,759,722.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Karlton D. Johnson sold 370 shares of the 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 owns 1,789 shares in the company, valued at $150,276. The disclosure for this sale can be found here. 2.07% of the stock is owned by company insiders.

Microchip Technology Stock Performance

Microchip Technology stock traded up $0.71 during midday trading on Tuesday, reaching $86.41. The stock had a trading volume of 1,941,619 shares, compared to its average volume of 5,520,438. The firm’s 50-day moving average price is $86.49 and its 200 day moving average price is $84.18. Microchip Technology Incorporated has a 12 month low of $68.75 and a 12 month high of $94.30. The firm has a market capitalization of $46.70 billion, a PE ratio of 20.02, a P/E/G ratio of 2.61 and a beta of 1.65. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 0.57.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly 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 firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the business posted $1.48 earnings per share. The company’s revenue was down 18.6% on a year-over-year basis. As a group, research analysts predict that Microchip Technology Incorporated will post 4.64 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were given a dividend of $0.45 per share. The ex-dividend date was Thursday, February 22nd. This is a boost from Microchip Technology’s previous quarterly dividend of $0.44. This represents a $1.80 annualized dividend and a dividend yield of 2.08%. Microchip Technology’s dividend payout ratio is currently 42.06%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MCHP shares. The Goldman Sachs Group lowered 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. Susquehanna reaffirmed a “positive” rating and set a $100.00 price objective on shares of Microchip Technology in a research report on Monday, April 8th. Truist Financial reduced their price target on shares of Microchip Technology from $97.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, January 9th. UBS Group dropped their price objective on Microchip Technology from $105.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. Finally, Stifel Nicolaus restated a “buy” rating and set a $94.00 price objective on shares of Microchip Technology in a research note on Thursday, March 14th. 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 currently has an average rating of “Moderate Buy” and an average price target of $92.25.

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.