Keel Point LLC Has $309,000 Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Keel Point LLC increased its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 6.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,427 shares of the semiconductor company’s stock after buying an additional 214 shares during the quarter. Keel Point LLC’s holdings in Microchip Technology were worth $309,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MCHP. Horizon Bancorp Inc. IN acquired a new stake in shares of Microchip Technology during the 4th quarter worth $110,000. Rockline Wealth Management LLC acquired a new position in Microchip Technology during the fourth quarter worth about $4,449,000. 17 Capital Partners LLC bought a new position in shares of Microchip Technology in the fourth quarter worth about $1,827,000. GAM Holding AG boosted its stake in shares of Microchip Technology by 13.9% in the 4th quarter. GAM Holding AG now owns 145,575 shares of the semiconductor company’s stock valued at $13,128,000 after purchasing an additional 17,776 shares in the last quarter. Finally, iA Global Asset Management Inc. grew its holdings in shares of Microchip Technology by 26.5% during the 3rd quarter. iA Global Asset Management Inc. now owns 81,124 shares of the semiconductor company’s stock valued at $6,332,000 after purchasing an additional 16,984 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wolfe Research raised shares of Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 price objective for the company in a research note on Thursday, January 18th. Susquehanna reiterated a “positive” rating and issued a $100.00 price target on shares of Microchip Technology in a research note on Monday, April 8th. UBS Group reduced their price objective on Microchip Technology from $105.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. Evercore ISI began coverage on Microchip Technology in a research report on Tuesday. They issued an “outperform” rating and a $106.00 target price for the company. Finally, Rosenblatt Securities restated a “buy” rating and set a $100.00 price target on shares of Microchip Technology in a report on Tuesday, January 30th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Microchip Technology has a consensus rating of “Moderate Buy” and a consensus target price of $92.25.

Microchip Technology Trading Up 0.3 %

MCHP opened at $85.93 on Wednesday. The stock has a market cap of $46.44 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 2.62 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 Incorporated has a twelve month low of $68.75 and a twelve month high of $94.30. The company has a fifty day moving average of $86.55 and a 200-day moving average of $84.24.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results 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. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The business’s revenue was down 18.6% compared to the same quarter last year. During the same period last year, the business posted $1.48 EPS. On average, sell-side analysts predict that Microchip Technology Incorporated will post 4.64 EPS for the current year.

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.44. This represents a $1.80 annualized dividend and a yield of 2.09%. Microchip Technology’s payout ratio is 42.06%.

Insiders Place Their Bets

In other news, CFO James Eric Bjornholt sold 1,970 shares of Microchip Technology stock in a transaction 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 owns 32,893 shares in the company, valued at approximately $2,759,722.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 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 of the company’s stock, valued at approximately $2,759,722.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Karlton D. Johnson sold 370 shares of the stock in a transaction on Tuesday, February 6th. The stock was 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 in the company, valued at $150,276. The disclosure for this sale can be found here. Company insiders own 2.07% of the company’s stock.

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.