Carl P. Sherr & Co. LLC Purchases 165 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Carl P. Sherr & Co. LLC increased its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 1.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,570 shares of the semiconductor company’s stock after buying an additional 165 shares during the quarter. Carl P. Sherr & Co. LLC’s holdings in Microchip Technology were worth $1,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of MCHP. Horizon Bancorp Inc. IN bought a new stake in Microchip Technology in the fourth quarter valued at approximately $110,000. Rockline Wealth Management LLC bought a new stake in Microchip Technology in the fourth quarter valued at approximately $4,449,000. 17 Capital Partners LLC bought a new stake in Microchip Technology in the fourth quarter valued at approximately $1,827,000. GAM Holding AG lifted its position in Microchip Technology by 13.9% in the fourth quarter. GAM Holding AG now owns 145,575 shares of the semiconductor company’s stock valued at $13,128,000 after purchasing an additional 17,776 shares during the last quarter. Finally, iA Global Asset Management Inc. lifted its position in Microchip Technology by 26.5% in the third quarter. iA Global Asset Management Inc. now owns 81,124 shares of the semiconductor company’s stock valued at $6,332,000 after purchasing an additional 16,984 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on MCHP shares. Evercore ISI started coverage on Microchip Technology in a research report on Tuesday. They issued an “outperform” rating and a $106.00 price objective for the company. Wolfe Research raised Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 target price on the stock in a research note on Thursday, January 18th. The Goldman Sachs Group reduced their target price 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. Susquehanna reissued a “positive” rating and set a $100.00 target price on shares of Microchip Technology in a research note on Monday, April 8th. Finally, StockNews.com cut Microchip Technology from a “buy” rating to a “hold” rating in a research note on Friday, December 29th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Microchip Technology currently has an average rating of “Moderate Buy” and an average price target of $92.25.

Microchip Technology Stock Up 0.3 %

MCHP stock traded up $0.29 during midday trading on Wednesday, hitting $86.22. The stock had a trading volume of 593,649 shares, compared to its average volume of 5,474,323. The firm has a market cap of $46.59 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 2.62 and a beta of 1.65. The business has a 50-day moving average of $86.55 and a two-hundred day moving average of $84.24. 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 current ratio of 0.98 and a quick ratio of 0.58.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the firm posted $1.48 earnings per share. The company’s quarterly revenue was down 18.6% on a year-over-year basis. As a group, equities research analysts forecast that Microchip Technology Incorporated will post 4.64 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were paid a $0.45 dividend. This is a boost from Microchip Technology’s previous quarterly dividend of $0.44. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Thursday, February 22nd. Microchip Technology’s dividend payout ratio is currently 42.06%.

Insider Transactions at Microchip Technology

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

Microchip Technology Company 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.