Meeder Advisory Services Inc. Purchases 290 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Meeder Advisory Services Inc. grew its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 3.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,989 shares of the semiconductor company’s stock after purchasing an additional 290 shares during the period. Meeder Advisory Services Inc.’s holdings in Microchip Technology were worth $896,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. BKM Wealth Management LLC purchased a new position in Microchip Technology during the fourth quarter worth about $27,000. Rakuten Securities Inc. purchased a new stake in shares of Microchip Technology during the 4th quarter valued at $27,000. Rise Advisors LLC purchased a new stake in shares of Microchip Technology during the 1st quarter valued at $28,000. Fortitude Family Office LLC bought a new stake in shares of Microchip Technology during the 4th quarter worth $29,000. Finally, Pineridge Advisors LLC purchased a new position in Microchip Technology in the fourth quarter worth $33,000. Institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Susquehanna lifted their price target on Microchip Technology from $100.00 to $105.00 and gave the stock a “positive” rating in a research note on Tuesday, May 7th. The Goldman Sachs Group boosted their target price on Microchip Technology from $77.00 to $88.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Truist Financial increased their price target 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. Stifel Nicolaus boosted their price objective on shares of Microchip Technology from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, Mizuho raised shares of Microchip Technology from a “neutral” rating to a “buy” rating and increased their target price for the company from $85.00 to $115.00 in a report on Friday, May 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus target price of $101.61.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,188 shares of Microchip Technology stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $99.98, for a total transaction of $318,736.24. Following the completion of the transaction, the chief financial officer now owns 33,257 shares in the company, valued at $3,325,034.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Stephen V. Drehobl sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $90.88, for a total transaction of $908,800.00. Following the completion of the transaction, the vice president now directly owns 82,203 shares in the company, valued at approximately $7,470,608.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James Eric Bjornholt sold 3,188 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $99.98, for a total transaction of $318,736.24. Following the transaction, the chief financial officer now owns 33,257 shares in the company, valued at approximately $3,325,034.86. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,993 shares of company stock valued at $2,251,857. 2.07% of the stock is currently owned by company insiders.

Microchip Technology Trading Up 1.0 %

Shares of MCHP stock traded up $0.90 during trading hours on Tuesday, reaching $92.99. The company’s stock had a trading volume of 686,874 shares, compared to its average volume of 5,671,852. 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 stock has a market capitalization of $49.89 billion, a P/E ratio of 26.54 and a beta of 1.54. The firm’s fifty day simple moving average is $93.55 and its 200 day simple moving average is $89.25. Microchip Technology Incorporated has a one year low of $68.75 and a one year high of $100.57.

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

Microchip Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd were given a $0.452 dividend. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $1.81 annualized dividend and a dividend yield of 1.94%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio is currently 52.16%.

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.