Signaturefd LLC Boosts Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Signaturefd LLC grew its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 6.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,600 shares of the semiconductor company’s stock after acquiring an additional 714 shares during the quarter. Signaturefd LLC’s holdings in Microchip Technology were worth $1,061,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Rise Advisors LLC purchased a new position in Microchip Technology in the 1st quarter valued at $28,000. Pineridge Advisors LLC acquired a new stake in shares of Microchip Technology in the fourth quarter valued at about $33,000. Steph & Co. lifted its stake in shares of Microchip Technology by 57.4% in the first quarter. Steph & Co. now owns 414 shares of the semiconductor company’s stock worth $37,000 after buying an additional 151 shares in the last quarter. Pathway Financial Advisers LLC acquired a new position in Microchip Technology during the first quarter worth about $39,000. Finally, Richardson Capital Management LLC purchased a new stake in Microchip Technology during the 1st quarter valued at about $45,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO James Eric Bjornholt sold 2,154 shares of Microchip Technology stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $81.50, for a total transaction of $175,551.00. Following the transaction, the chief financial officer now owns 33,257 shares in the company, valued at approximately $2,710,445.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Matthew W. Chapman sold 2,748 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were 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 owns 35,682 shares of the company’s stock, valued at $3,349,826.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James Eric Bjornholt sold 2,154 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $81.50, for a total transaction of $175,551.00. Following the transaction, the chief financial officer now owns 33,257 shares in the company, valued at $2,710,445.50. The disclosure for this sale can be found here. Corporate insiders own 2.07% of the company’s stock.

Microchip Technology Trading Up 1.5 %

MCHP traded up $1.18 during trading on Friday, hitting $82.16. The company’s stock had a trading volume of 4,872,830 shares, compared to its average volume of 5,988,719. Microchip Technology Incorporated has a twelve month low of $68.75 and a twelve month high of $100.57. The firm’s 50 day moving average price is $85.64 and its 200-day moving average price is $88.36. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.20 and a quick ratio of 0.67. The stock has a market cap of $44.08 billion, a PE ratio of 23.68 and a beta of 1.54.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.52 by $0.01. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.24 billion. Microchip Technology had a net margin of 20.80% and a return on equity of 27.82%. Microchip Technology’s revenue for the quarter was down 45.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.56 earnings per share. On average, analysts expect that Microchip Technology Incorporated will post 2.35 earnings per share for the current year.

Microchip Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd will be issued a dividend of $0.454 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.21%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s payout ratio is presently 52.16%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MCHP. Citigroup decreased their target price on shares of Microchip Technology from $104.00 to $92.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Mizuho raised Microchip Technology from a “neutral” rating to a “buy” rating and raised their target price for the stock from $85.00 to $115.00 in a research note on Friday, May 24th. Morgan Stanley cut shares of Microchip Technology from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $102.00 to $100.00 in a research report on Thursday, July 11th. Needham & Company LLC decreased their target price on shares of Microchip Technology from $100.00 to $96.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Finally, KeyCorp increased their price objective on Microchip Technology from $90.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $99.95.

About Microchip Technology

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.