7,672 Shares in Microchip Technology Incorporated (NASDAQ:MCHP) Purchased by Founders Financial Securities LLC

Founders Financial Securities LLC acquired a new position in Microchip Technology Incorporated (NASDAQ:MCHP) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 7,672 shares of the semiconductor company’s stock, valued at approximately $688,000.

A number of other institutional investors have also recently bought and sold shares of MCHP. Principal Financial Group Inc. boosted its stake in shares of Microchip Technology by 0.9% in the fourth quarter. Principal Financial Group Inc. now owns 9,279,166 shares of the semiconductor company’s stock valued at $836,795,000 after buying an additional 87,203 shares during the period. Norges Bank bought a new stake in shares of Microchip Technology during the 4th quarter valued at $672,196,000. Van ECK Associates Corp increased its position in shares of Microchip Technology by 16.0% in the fourth 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 during the period. Charles Schwab Investment Management Inc. raised its stake in Microchip Technology by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,881,646 shares of the semiconductor company’s stock valued at $259,867,000 after purchasing an additional 51,249 shares in the last quarter. Finally, Rafferty Asset Management LLC lifted its position in Microchip Technology by 3.7% during the fourth quarter. Rafferty Asset Management LLC now owns 2,755,496 shares of the semiconductor company’s stock worth $248,491,000 after purchasing an additional 98,914 shares during the period. Institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In other Microchip Technology news, Director Matthew W. Chapman sold 2,748 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $93.88, for a total value of $257,982.24. Following the transaction, the director now directly owns 35,682 shares of the company’s stock, valued at $3,349,826.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Matthew W. Chapman sold 2,748 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $93.88, for a total transaction of $257,982.24. Following the transaction, the director now owns 35,682 shares of the company’s stock, valued at approximately $3,349,826.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Stephen V. Drehobl sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $90.88, for a total value of $908,800.00. Following the completion of the sale, the vice president now owns 82,203 shares of the company’s stock, valued at $7,470,608.64. The disclosure for this sale can be found here. Insiders sold 23,993 shares of company stock valued at $2,251,857 over the last 90 days. Company insiders own 2.07% of the company’s stock.

Microchip Technology Trading Up 2.3 %

NASDAQ:MCHP traded up $2.07 on Friday, reaching $91.50. 13,568,641 shares of the stock traded hands, compared to its average volume of 6,205,653. The firm has a market capitalization of $49.13 billion, a price-to-earnings ratio of 26.37 and a beta of 1.55. Microchip Technology Incorporated has a 1-year low of $68.75 and a 1-year high of $100.57. The company has a current ratio of 1.20, a quick ratio of 0.67 and a debt-to-equity ratio of 0.75. The company’s 50 day moving average is $93.02 and its 200-day moving average is $89.10.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Monday, May 6th. The semiconductor company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Microchip Technology had a net margin of 24.98% and a return on equity of 36.78%. Microchip Technology’s revenue for the quarter was down 40.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.56 earnings per share. Equities research analysts anticipate that Microchip Technology Incorporated will post 2.35 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently announced 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 is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $1.81 annualized dividend and a dividend yield of 1.98%. Microchip Technology’s dividend payout ratio is presently 52.16%.

Analyst Ratings Changes

MCHP has been the subject of several analyst reports. Truist Financial boosted their target price on shares of Microchip Technology from $93.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. The Goldman Sachs Group upped their target price on Microchip Technology from $77.00 to $88.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Susquehanna raised their target price on Microchip Technology from $100.00 to $105.00 and gave the company a “positive” rating in a report on Tuesday, May 7th. Piper Sandler reissued a “neutral” rating and set a $90.00 price target (up previously from $80.00) on shares of Microchip Technology in a report on Tuesday, May 7th. Finally, Stifel Nicolaus raised their price objective on Microchip Technology from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $101.06.

About Microchip Technology

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.