Bfsg LLC Takes Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Bfsg LLC bought a new position in Microchip Technology Incorporated (NASDAQ:MCHP) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 500 shares of the semiconductor company’s stock, valued at approximately $45,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Mizuho Markets Americas LLC bought a new stake in shares of Microchip Technology during the 3rd quarter worth $225,800,000. Qube Research & Technologies Ltd increased its stake in shares of Microchip Technology by 122.1% in the third 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 during the period. Public Sector Pension Investment Board lifted its position in shares of Microchip Technology by 173.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 1,062,611 shares of the semiconductor company’s stock worth $82,937,000 after purchasing an additional 673,924 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Microchip Technology by 1,082.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 715,875 shares of the semiconductor company’s stock worth $64,558,000 after purchasing an additional 655,332 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in Microchip Technology by 27.8% during the 3rd quarter. Deutsche Bank AG now owns 1,927,892 shares of the semiconductor company’s stock valued at $150,472,000 after purchasing an additional 418,869 shares during the period. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Price Performance

Shares of MCHP stock opened at $91.55 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.58. The stock’s fifty day simple moving average is $87.00 and its 200 day simple moving average is $84.55. Microchip Technology Incorporated has a one year low of $68.75 and a one year high of $94.30. The firm has a market cap of $49.47 billion, a price-to-earnings ratio of 21.54, a P/E/G ratio of 2.77 and a beta of 1.65.

Microchip Technology (NASDAQ:MCHP) last issued its 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. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the company earned $1.48 EPS. The firm’s revenue for the quarter was down 18.6% compared to the same quarter last year. On average, analysts expect that Microchip Technology Incorporated will post 4.64 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were issued a dividend of $0.45 per share. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.80 annualized dividend and a dividend yield of 1.97%. Microchip Technology’s dividend payout ratio (DPR) is presently 42.06%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MCHP. Susquehanna reiterated a “positive” rating and set a $100.00 price target on shares of Microchip Technology in a report on Monday, April 8th. UBS Group reduced their price target on shares of Microchip Technology from $105.00 to $95.00 and set a “buy” rating for the company in a report on Friday, February 2nd. Evercore ISI began coverage on shares of Microchip Technology in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $106.00 price target on the stock. Truist Financial cut their price objective on shares of Microchip Technology from $97.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, January 9th. Finally, TD Cowen lifted their target price on Microchip Technology from $75.00 to $80.00 and gave the stock a “market perform” rating in a research report on Friday, February 2nd. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.50.

Insider Activity

In related news, Director Karlton D. Johnson sold 370 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 1,789 shares in the company, valued at approximately $150,276. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Karlton D. Johnson sold 370 shares of Microchip Technology stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total value of $31,080.00. Following the completion of the transaction, the director now directly owns 1,789 shares of the company’s stock, valued at $150,276. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James Eric Bjornholt sold 1,970 shares of the company’s stock in a transaction dated 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 owns 32,893 shares in the company, valued at approximately $2,759,722.70. The disclosure for this sale can be found here. 2.07% of the stock is currently owned by corporate insiders.

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.