Personal CFO Solutions LLC Raises Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Personal CFO Solutions LLC boosted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 89.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,450 shares of the semiconductor company’s stock after buying an additional 6,361 shares during the period. Personal CFO Solutions LLC’s holdings in Microchip Technology were worth $771,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Mainstream Capital Management LLC bought a new position in Microchip Technology during the fourth quarter valued at approximately $26,000. Prospera Private Wealth LLC bought a new position in Microchip Technology during the 3rd quarter valued at approximately $29,000. Financial Life Planners purchased a new stake in Microchip Technology in the fourth quarter worth $32,000. Peterson Financial Group Inc. bought a new stake in shares of Microchip Technology during the 3rd quarter valued at about $34,000. Finally, Truvestments Capital LLC bought a new position in shares of Microchip Technology in the 3rd quarter worth approximately $34,000. Institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the completion of the transaction, the chief financial officer now directly owns 33,272 shares in the company, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.10% of the company’s stock.

Microchip Technology Price Performance

Shares of MCHP opened at $59.77 on Monday. The firm’s 50 day moving average price is $56.98 and its 200 day moving average price is $66.56. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. The company has a market cap of $32.15 billion, a P/E ratio of 106.73 and a beta of 1.52. Microchip Technology Incorporated has a fifty-two week low of $50.21 and a fifty-two week high of $100.57.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. On average, research analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology’s dividend payout ratio is currently 325.00%.

Analyst Ratings Changes

MCHP has been the topic of a number of recent research reports. TD Cowen increased their target price on Microchip Technology from $50.00 to $60.00 and gave the stock a “hold” rating in a research note on Tuesday, March 4th. Needham & Company LLC boosted their price target on Microchip Technology from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Raymond James reissued a “strong-buy” rating and set a $60.00 price target (down previously from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. The Goldman Sachs Group reduced their price objective on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Finally, Bank of America cut Microchip Technology from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $80.00 to $65.00 in a report on Monday, December 16th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $74.37.

Microchip Technology Company 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.