Integrated Advisors Network LLC Raises Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Integrated Advisors Network LLC boosted its position in Microchip Technology Incorporated (NASDAQ:MCHPFree Report) by 230.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 48,090 shares of the semiconductor company’s stock after purchasing an additional 33,525 shares during the period. Integrated Advisors Network LLC’s holdings in Microchip Technology were worth $4,337,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in Microchip Technology in the 4th quarter worth approximately $672,196,000. Truist Financial Corp boosted its position in Microchip Technology by 324.0% in the 4th quarter. Truist Financial Corp now owns 1,815,013 shares of the semiconductor company’s stock worth $163,678,000 after purchasing an additional 1,386,924 shares in the last quarter. Corient Private Wealth LLC boosted its position in Microchip Technology by 76.6% in the 4th quarter. Corient Private Wealth LLC now owns 2,043,484 shares of the semiconductor company’s stock worth $184,251,000 after purchasing an additional 886,068 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in Microchip Technology by 122.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,529,186 shares of the semiconductor company’s stock worth $119,353,000 after purchasing an additional 840,526 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in Microchip Technology by 16.0% in the 4th quarter. Van ECK Associates Corp now owns 5,177,014 shares of the semiconductor company’s stock worth $466,863,000 after purchasing an additional 714,376 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In related news, Director Matthew W. Chapman sold 2,748 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $93.88, for a total transaction of $257,982.24. Following the completion of the sale, the director now directly owns 35,682 shares of the company’s stock, valued at approximately $3,349,826.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Matthew W. Chapman sold 2,748 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $93.88, for a total transaction of $257,982.24. Following the completion of the sale, the director now directly owns 35,682 shares of the company’s stock, valued at approximately $3,349,826.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Stephen V. Drehobl sold 7,830 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $95.06, for a total value of $744,319.80. Following the sale, the vice president now directly owns 79,509 shares of the company’s stock, valued at $7,558,125.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,993 shares of company stock valued at $2,251,857. 2.07% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MCHP has been the topic of several recent research reports. Truist Financial upped their price objective on Microchip Technology from $93.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Citigroup increased their target price on Microchip Technology from $100.00 to $104.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. B. Riley increased their target price on Microchip Technology from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Piper Sandler reiterated a “neutral” rating and set a $90.00 target price (up previously from $80.00) on shares of Microchip Technology in a research report on Tuesday, May 7th. Finally, Mizuho upgraded Microchip Technology from a “neutral” rating to a “buy” rating and increased their target price for the company from $85.00 to $115.00 in a research report on Friday, May 24th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $101.06.

Read Our Latest Research Report on MCHP

Microchip Technology Trading Down 1.6 %

Shares of MCHP traded down $1.46 during midday trading on Friday, reaching $91.35. The company had a trading volume of 3,857,458 shares, compared to its average volume of 6,322,673. Microchip Technology Incorporated has a 1-year low of $68.75 and a 1-year high of $100.57. The stock has a market cap of $49.04 billion, a PE ratio of 26.33 and a beta of 1.55. The firm has a 50 day simple moving average of $92.19 and a 200-day simple moving average of $88.67. The company has a quick ratio of 0.67, a current ratio of 1.20 and a debt-to-equity ratio of 0.75.

Microchip Technology (NASDAQ:MCHPGet Free Report) last issued its 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 return on equity of 36.78% and a net margin of 24.98%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the company earned $1.56 EPS. The company’s revenue for the quarter was down 40.6% on a year-over-year basis. Research analysts forecast that Microchip Technology Incorporated will post 2.35 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were given a dividend of $0.452 per share. This represents a $1.81 dividend on an annualized basis and a dividend yield of 1.98%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Tuesday, May 21st. Microchip Technology’s dividend payout ratio (DPR) is presently 52.16%.

Microchip Technology Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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