Kohmann Bosshard Financial Services LLC Purchases Shares of 600 Microchip Technology Incorporated (NASDAQ:MCHP)

Kohmann Bosshard Financial Services LLC purchased a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) during the 4th quarter, Holdings Channel.com reports. The fund purchased 600 shares of the semiconductor company’s stock, valued at approximately $34,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Prospera Private Wealth LLC bought a new stake in Microchip Technology in the 3rd quarter valued at $29,000. Peterson Financial Group Inc. bought a new stake in Microchip Technology in the 3rd quarter valued at $34,000. Truvestments Capital LLC bought a new stake in Microchip Technology in the 3rd quarter valued at $34,000. Financial Life Planners acquired a new stake in shares of Microchip Technology in the 4th quarter valued at $32,000. Finally, Hobbs Group Advisors LLC boosted its stake in shares of Microchip Technology by 390.6% in the 3rd quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

MCHP has been the topic of several recent analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $90.00 target price on shares of Microchip Technology in a research note on Thursday, February 6th. KeyCorp reduced their target price on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a research note on Friday, February 7th. Susquehanna reduced their target price on shares of Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, November 6th. Piper Sandler restated an “overweight” rating and issued a $65.00 target price (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Finally, Evercore ISI restated an “outperform” rating and issued a $95.00 target price (down previously from $101.00) on shares of Microchip Technology in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $77.11.

Microchip Technology Stock Down 1.5 %

Shares of NASDAQ MCHP opened at $57.95 on Tuesday. The firm has a market capitalization of $31.17 billion, a PE ratio of 103.48 and a beta of 1.50. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. Microchip Technology Incorporated has a 1 year low of $50.21 and a 1 year high of $100.57. The firm’s 50-day moving average is $56.94 and its 200-day moving average is $67.20.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. Equities analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be given a $0.455 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.14%. Microchip Technology’s dividend payout ratio is 325.00%.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the sale, the chief financial officer now directly owns 33,272 shares in the company, valued at $2,025,599.36. This trade represents a 10.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.10% of the stock is currently owned by corporate insiders.

Microchip Technology Company Profile

Microchip Technology Incorporated engages in the development, manufacture, and sale of 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 mixed-signal 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.