Private Advisor Group LLC Has $5.52 Million Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Private Advisor Group LLC boosted its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 6.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,164 shares of the semiconductor company’s stock after purchasing an additional 3,582 shares during the quarter. Private Advisor Group LLC’s holdings in Microchip Technology were worth $5,516,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MCHP. Bleakley Financial Group LLC grew its stake in shares of Microchip Technology by 1.3% in the fourth quarter. Bleakley Financial Group LLC now owns 9,415 shares of the semiconductor company’s stock valued at $849,000 after acquiring an additional 119 shares in the last quarter. RFG Advisory LLC grew its position in Microchip Technology by 3.2% during the fourth quarter. RFG Advisory LLC now owns 3,910 shares of the semiconductor company’s stock worth $353,000 after buying an additional 123 shares in the last quarter. Twelve Points Wealth Management LLC increased its stake in Microchip Technology by 1.0% during the 4th quarter. Twelve Points Wealth Management LLC now owns 12,229 shares of the semiconductor company’s stock worth $1,103,000 after acquiring an additional 125 shares during the period. 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 acquiring an additional 134 shares in the last quarter. Finally, Financial Advocates Investment Management lifted its position in shares of Microchip Technology by 4.1% during the 3rd quarter. Financial Advocates Investment Management now owns 3,607 shares of the semiconductor company’s stock valued at $281,000 after acquiring an additional 142 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MCHP has been the subject of a number of analyst reports. Needham & Company LLC boosted their price target on Microchip Technology from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday. Stifel Nicolaus upped their price target on shares of Microchip Technology from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. KeyCorp lifted their price objective on shares of Microchip Technology from $90.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday. Mizuho upped their target price on Microchip Technology from $82.00 to $85.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $90.00 price objective (up from $80.00) on shares of Microchip Technology in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $98.47.

Insider Activity at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 1,970 shares of the 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 sale, the chief financial officer now directly owns 32,893 shares in the company, valued at approximately $2,759,722.70. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.07% of the stock is owned by company insiders.

Microchip Technology Stock Down 0.1 %

Shares of NASDAQ:MCHP opened at $91.99 on Thursday. The business has a fifty day simple moving average of $88.45 and a 200 day simple moving average of $85.37. Microchip Technology Incorporated has a 12-month low of $68.75 and a 12-month high of $96.14. The firm has a market cap of $49.71 billion, a P/E ratio of 21.49, a P/E/G ratio of 2.79 and a beta of 1.60. 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 posted its quarterly earnings data on Monday, May 6th. The semiconductor company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The firm’s quarterly revenue was down 40.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.56 earnings per share. Analysts predict that Microchip Technology Incorporated will post 4.64 earnings per share for the current year.

Microchip Technology Increases Dividend

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

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.