Concurrent Investment Advisors LLC increased its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP – Free Report) by 8.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,860 shares of the semiconductor company’s stock after acquiring an additional 5,406 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Microchip Technology were worth $5,609,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Pathway Financial Advisers LLC bought a new stake in shares of Microchip Technology during the first quarter valued at approximately $39,000. Versant Capital Management Inc increased its stake in Microchip Technology by 148.8% during the 2nd quarter. Versant Capital Management Inc now owns 530 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 317 shares in the last quarter. Wolff Wiese Magana LLC lifted its stake in shares of Microchip Technology by 55.2% in the third quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock valued at $49,000 after buying an additional 218 shares in the last quarter. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Microchip Technology during the first quarter valued at about $54,000. Finally, TruNorth Capital Management LLC bought a new stake in shares of Microchip Technology during the second quarter worth about $55,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Microchip Technology
In other Microchip Technology news, CFO James Eric Bjornholt sold 2,154 shares of the stock in a transaction on Friday, August 23rd. The stock was 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 $2,710,445.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.10% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
View Our Latest Stock Report on Microchip Technology
Microchip Technology Price Performance
NASDAQ MCHP opened at $73.75 on Thursday. 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 $39.57 billion, a PE ratio of 51.57 and a beta of 1.53. Microchip Technology Incorporated has a 52 week low of $71.76 and a 52 week high of $100.57. The firm’s 50-day simple moving average is $77.05 and its two-hundred day simple moving average is $85.12.
Microchip Technology Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be paid a dividend of $0.455 per share. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Friday, November 22nd. Microchip Technology’s dividend payout ratio is presently 126.57%.
About Microchip Technology
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.
Read More
- Five stocks we like better than Microchip Technology
- How to Calculate Inflation Rate
- What a Trump Win Looks Like for the Market Now and Into 2025
- 3 Stocks to Consider Buying in October
- Russell 2000 Surge Post-Election: How to Play the Small-Cap Pop
- What is the Hang Seng index?
- Macro Headwinds Send Microchip Technology Stock to the Buy Zone
Want to see what other hedge funds are holding MCHP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microchip Technology Incorporated (NASDAQ:MCHP – Free Report).
Receive News & Ratings for Microchip Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microchip Technology and related companies with MarketBeat.com's FREE daily email newsletter.