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

TradeLink Capital LLC purchased a new position in Microchip Technology Incorporated (NASDAQ:MCHP) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,300 shares of the semiconductor company’s stock, valued at approximately $393,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Swedbank AB bought a new stake in shares of Microchip Technology during the 1st quarter valued at $1,079,000. Caxton Associates LP boosted its stake in Microchip Technology by 4,511.5% during the fourth quarter. Caxton Associates LP now owns 400,000 shares of the semiconductor company’s stock worth $36,072,000 after acquiring an additional 391,326 shares in the last quarter. SageView Advisory Group LLC grew its holdings in Microchip Technology by 507.5% in the first quarter. SageView Advisory Group LLC now owns 17,307 shares of the semiconductor company’s stock worth $1,553,000 after purchasing an additional 14,458 shares during the period. RFG Advisory LLC increased its stake in shares of Microchip Technology by 228.4% during the first quarter. RFG Advisory LLC now owns 12,841 shares of the semiconductor company’s stock valued at $1,152,000 after purchasing an additional 8,931 shares in the last quarter. Finally, Hennessy Advisors Inc. lifted its holdings in shares of Microchip Technology by 2,194.5% during the first quarter. Hennessy Advisors Inc. now owns 33,454 shares of the semiconductor company’s stock valued at $3,001,000 after purchasing an additional 31,996 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,154 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $81.50, for a total transaction of $175,551.00. Following the sale, the chief financial officer now owns 33,257 shares in the company, valued at approximately $2,710,445.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.07% of the stock is currently owned by corporate insiders.

Microchip Technology Trading Down 1.8 %

Microchip Technology stock opened at $76.08 on Friday. The business has a 50-day simple moving average of $83.04 and a two-hundred day simple moving average of $88.02. Microchip Technology Incorporated has a 52-week low of $68.75 and a 52-week high of $100.57. The company has a quick ratio of 1.08, a current ratio of 1.94 and a debt-to-equity ratio of 0.96. The company has a market cap of $40.82 billion, a P/E ratio of 21.93 and a beta of 1.53.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, August 1st. The semiconductor company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. Microchip Technology had a net margin of 20.80% and a return on equity of 28.33%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the prior year, the company earned $1.56 earnings per share. The firm’s revenue was down 45.8% on a year-over-year basis. Analysts predict that Microchip Technology Incorporated will post 1.74 EPS for the current year.

Microchip Technology Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were given a dividend of $0.454 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a yield of 2.39%. Microchip Technology’s payout ratio is 52.45%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MCHP. TD Cowen cut their price target on Microchip Technology from $90.00 to $80.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Bank of America cut Microchip Technology from a “buy” rating to a “neutral” rating and cut their target price for the stock from $110.00 to $90.00 in a research note on Friday, August 2nd. Mizuho raised Microchip Technology from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $115.00 in a research report on Friday, May 24th. Susquehanna cut their price objective on shares of Microchip Technology from $115.00 to $105.00 and set a “positive” rating on the stock in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Microchip Technology from $110.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $99.95.

Microchip Technology Profile

Microchip Technology Incorporated engages in the development, manufacture, and sale of 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 mixed-signal 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.