National Pension Service Grows Position in Microchip Technology Incorporated (NASDAQ:MCHP)

National Pension Service raised its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,176,547 shares of the semiconductor company’s stock after acquiring an additional 24,211 shares during the period. National Pension Service owned approximately 0.22% of Microchip Technology worth $106,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Everpar Advisors LLC bought a new stake in shares of Microchip Technology in the 4th quarter worth about $1,118,000. Charles Schwab Investment Management Inc. raised its position in Microchip Technology by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,881,646 shares of the semiconductor company’s stock valued at $259,867,000 after purchasing an additional 51,249 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Microchip Technology by 5.7% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 38,365 shares of the semiconductor company’s stock worth $3,460,000 after purchasing an additional 2,083 shares during the period. Apollon Wealth Management LLC increased its position in shares of Microchip Technology by 226.4% during the 4th quarter. Apollon Wealth Management LLC now owns 23,390 shares of the semiconductor company’s stock valued at $2,109,000 after purchasing an additional 16,224 shares during the last quarter. Finally, Lincoln National Corp raised its holdings in Microchip Technology by 5.0% during the 4th quarter. Lincoln National Corp now owns 5,542 shares of the semiconductor company’s stock valued at $500,000 after buying an additional 264 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 1,970 shares of Microchip Technology stock in a transaction dated Friday, February 23rd. The stock was 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 approximately $2,759,722.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.07% of the stock is owned by insiders.

Microchip Technology Price Performance

Microchip Technology stock remained flat at $91.99 during midday trading on Thursday. The company’s stock had a trading volume of 735,508 shares, compared to its average volume of 5,581,314. Microchip Technology Incorporated has a 52 week low of $68.75 and a 52 week high of $96.14. 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 firm has a market capitalization of $49.71 billion, a PE ratio of 21.38, a P/E/G ratio of 2.79 and a beta of 1.60. The stock’s 50-day simple moving average is $88.45 and its 200-day simple moving average is $85.37.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Monday, May 6th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter last year, the company posted $1.56 earnings per share. The business’s quarterly revenue was down 40.6% on a year-over-year basis. As a group, equities research analysts expect that Microchip Technology Incorporated will post 4.64 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd will be issued a dividend of $0.452 per share. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $1.81 dividend on an annualized basis and a dividend yield of 1.97%. Microchip Technology’s payout ratio is 42.06%.

Wall Street Analysts Forecast Growth

MCHP has been the topic of several recent analyst reports. Stifel Nicolaus increased their target price on shares of Microchip Technology from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. The Goldman Sachs Group increased their price target on Microchip Technology from $77.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday. Truist Financial upped their price target on shares of Microchip Technology from $93.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday. TD Cowen boosted their price objective on shares of Microchip Technology from $80.00 to $90.00 and gave the company a “hold” rating in a research report on Tuesday. Finally, Susquehanna increased their price objective on Microchip Technology from $100.00 to $105.00 and gave the stock a “positive” rating in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and an average price target of $98.47.

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.