M. Kraus & Co Increases Position in Microchip Technology Incorporated (NASDAQ:MCHP)

M. Kraus & Co boosted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 0.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 100,380 shares of the semiconductor company’s stock after acquiring an additional 452 shares during the period. Microchip Technology accounts for 2.4% of M. Kraus & Co’s portfolio, making the stock its 21st largest holding. M. Kraus & Co’s holdings in Microchip Technology were worth $8,060,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the stock. Rise Advisors LLC bought a new stake in shares of Microchip Technology in the 1st quarter worth about $28,000. Pineridge Advisors LLC bought a new stake in shares of Microchip Technology in the 4th quarter worth about $33,000. Steph & Co. increased its holdings in shares of Microchip Technology by 57.4% in the 1st quarter. Steph & Co. now owns 414 shares of the semiconductor company’s stock worth $37,000 after buying an additional 151 shares during the last quarter. Pathway Financial Advisers LLC bought a new stake in shares of Microchip Technology in the 1st quarter worth about $39,000. Finally, Richardson Capital Management LLC purchased a new position in shares of Microchip Technology during the 1st quarter worth about $45,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Stock Performance

NASDAQ MCHP traded up $1.00 during mid-day trading on Monday, reaching $78.98. 1,139,594 shares of the stock were exchanged, compared to its average volume of 5,978,092. The business’s 50 day moving average is $78.09 and its 200-day moving average is $86.57. Microchip Technology Incorporated has a 1 year low of $68.75 and a 1 year high of $100.57. The company has a market capitalization of $42.37 billion, a P/E ratio of 22.47 and a beta of 1.52. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.08 and a current ratio of 1.94.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.01. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. Microchip Technology had a net margin of 20.80% and a return on equity of 28.33%. The company’s revenue was down 45.8% compared to the same quarter last year. During the same period last year, the firm posted $1.56 earnings per share. On average, equities research analysts forecast that Microchip Technology Incorporated will post 1.73 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were issued a dividend of $0.454 per share. This represents a $1.82 annualized dividend and a yield of 2.30%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, August 22nd. Microchip Technology’s dividend payout ratio (DPR) is presently 52.16%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. TD Cowen lowered their price objective on shares of Microchip Technology from $90.00 to $80.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Susquehanna lowered their price objective 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. Needham & Company LLC reduced their price objective on shares of Microchip Technology from $100.00 to $96.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Morgan Stanley lowered shares of Microchip Technology from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $102.00 to $100.00 in a research note on Thursday, July 11th. Finally, Piper Sandler upgraded shares of Microchip Technology from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $90.00 to $100.00 in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Microchip Technology currently has an average rating of “Moderate Buy” and an average target price of $99.47.

Insider Buying and Selling at Microchip Technology

In other 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 directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.07% of the company’s stock.

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.