Microchip Technology Incorporated (NASDAQ:MCHP) Shares Bought by Values First Advisors Inc.

Values First Advisors Inc. grew its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 1.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 25,014 shares of the semiconductor company’s stock after acquiring an additional 413 shares during the quarter. Microchip Technology comprises approximately 1.4% of Values First Advisors Inc.’s holdings, making the stock its 16th largest position. Values First Advisors Inc.’s holdings in Microchip Technology were worth $2,256,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Horizon Bancorp Inc. IN acquired a new position in Microchip Technology during the 4th quarter worth $110,000. Fund Management at Engine No. 1 LLC grew its stake in shares of Microchip Technology by 7.3% in the 2nd quarter. Fund Management at Engine No. 1 LLC now owns 7,128 shares of the semiconductor company’s stock worth $639,000 after purchasing an additional 488 shares during the last quarter. Eqis Capital Management Inc. raised its holdings in shares of Microchip Technology by 14.9% in the 2nd quarter. Eqis Capital Management Inc. now owns 10,429 shares of the semiconductor company’s stock worth $934,000 after purchasing an additional 1,356 shares in the last quarter. Rockline Wealth Management LLC bought a new stake in Microchip Technology during the fourth quarter worth approximately $4,449,000. Finally, 17 Capital Partners LLC bought a new position in shares of Microchip Technology in the fourth quarter valued at $1,827,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Stock Up 0.6 %

Shares of NASDAQ MCHP traded up $0.52 during trading hours on Friday, hitting $89.71. The stock had a trading volume of 3,688,779 shares, compared to its average volume of 5,964,617. The company has a market capitalization of $48.48 billion, a P/E ratio of 20.96, a P/E/G ratio of 1.59 and a beta of 1.65. The firm’s 50-day moving average price is $86.30 and its two-hundred day moving average price is $83.17. Microchip Technology Incorporated has a 52 week low of $68.75 and a 52 week high of $94.30. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 0.98.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.04 by $0.04. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.77 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 18.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.48 EPS. Analysts anticipate that Microchip Technology Incorporated will post 4.64 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were issued a $0.45 dividend. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.44. This represents a $1.80 annualized dividend and a yield of 2.01%. The ex-dividend date was Thursday, February 22nd. Microchip Technology’s payout ratio is 42.06%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. StockNews.com downgraded Microchip Technology from a “buy” rating to a “hold” rating in a report on Friday, December 29th. Truist Financial dropped their price target on Microchip Technology from $97.00 to $93.00 and set a “buy” rating on the stock in a research note on Tuesday, January 9th. TD Cowen lifted their price target on Microchip Technology from $75.00 to $80.00 and gave the stock a “market perform” rating in a research note on Friday, February 2nd. The Goldman Sachs Group dropped their price target on Microchip Technology from $87.00 to $77.00 and set a “neutral” rating on the stock in a research note on Friday, February 2nd. Finally, Susquehanna dropped their price target on Microchip Technology from $105.00 to $100.00 and set a “positive” rating on the stock in a research note on Friday, February 2nd. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $91.33.

Insider Buying and Selling

In other news, CFO James Eric Bjornholt sold 1,970 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total transaction of $165,283.00. Following the sale, the chief financial officer now directly owns 32,893 shares in the company, valued at $2,759,722.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO James Eric Bjornholt sold 1,970 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total transaction of $165,283.00. Following the sale, the chief financial officer now directly owns 32,893 shares in the company, valued at $2,759,722.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Karlton D. Johnson sold 370 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total value of $31,080.00. Following the completion of the sale, the director now owns 1,789 shares in the company, valued at $150,276. The disclosure for this sale can be found here. Corporate insiders own 2.07% of the company’s stock.

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.