Fiduciary Family Office LLC Grows Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Fiduciary Family Office LLC increased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 6.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,169 shares of the semiconductor company’s stock after buying an additional 539 shares during the period. Fiduciary Family Office LLC’s holdings in Microchip Technology were worth $839,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of MCHP. Norges Bank purchased a new position in Microchip Technology during the 4th quarter worth approximately $672,196,000. Clearbridge Investments LLC raised its position in shares of Microchip Technology by 18,944.8% during the 1st quarter. Clearbridge Investments LLC now owns 1,973,045 shares of the semiconductor company’s stock worth $177,002,000 after purchasing an additional 1,962,685 shares during the last quarter. Vanguard Group Inc. lifted its stake in Microchip Technology by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 68,583,723 shares of the semiconductor company’s stock valued at $6,152,646,000 after buying an additional 1,921,497 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Microchip Technology by 425.3% during the first quarter. Canada Pension Plan Investment Board now owns 1,377,099 shares of the semiconductor company’s stock valued at $123,540,000 after acquiring an additional 1,114,962 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Microchip Technology by 17.2% during the first quarter. Van ECK Associates Corp now owns 6,068,311 shares of the semiconductor company’s stock worth $544,388,000 after purchasing an additional 891,297 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Activity

In other Microchip Technology news, Director Matthew W. Chapman sold 2,748 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $93.88, for a total transaction of $257,982.24. Following the completion of the sale, the director now directly owns 35,682 shares in the company, valued at approximately $3,349,826.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO James Eric Bjornholt sold 2,154 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $81.50, for a total value of $175,551.00. Following the completion of the sale, the chief financial officer now owns 33,257 shares in the company, valued at $2,710,445.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Matthew W. Chapman sold 2,748 shares of Microchip Technology 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 sale, the director now directly owns 35,682 shares in the company, valued at approximately $3,349,826.16. The disclosure for this sale can be found here. Corporate insiders own 2.07% of the company’s stock.

Microchip Technology Stock Down 2.8 %

MCHP stock traded down $2.30 during mid-day trading on Tuesday, hitting $79.86. 272,395 shares of the company were exchanged, compared to its average volume of 5,954,895. The company has a market capitalization of $42.85 billion, a PE ratio of 23.68 and a beta of 1.54. The firm has a fifty day simple moving average of $85.50 and a 200 day simple moving average of $88.47. The company has a current ratio of 1.94, a quick ratio of 1.08 and a debt-to-equity ratio of 0.96. Microchip Technology Incorporated has a twelve month low of $68.75 and a twelve month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, August 1st. The semiconductor company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. Microchip Technology had a return on equity of 28.33% and a net margin of 20.80%. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the business posted $1.56 EPS. Microchip Technology’s quarterly revenue was down 45.8% compared to the same quarter last year. On average, research analysts forecast that Microchip Technology Incorporated will post 1.74 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 22nd will be given a $0.454 dividend. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Thursday, August 22nd. Microchip Technology’s dividend payout ratio (DPR) is currently 52.16%.

Analyst Ratings Changes

MCHP has been the topic of a number of research reports. Citigroup decreased their target price on shares of Microchip Technology from $104.00 to $92.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Needham & Company LLC dropped their price objective on shares of Microchip Technology from $100.00 to $96.00 and set a “buy” rating for the company in a report on Monday, August 5th. Piper Sandler upgraded Microchip Technology from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $90.00 to $100.00 in a report on Friday, August 16th. Truist Financial reduced their price objective on shares of Microchip Technology from $96.00 to $89.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Finally, Susquehanna dropped their price target on shares of Microchip Technology from $115.00 to $105.00 and set a “positive” rating for the company in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $99.95.

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.