Mather Group LLC. Grows Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Mather Group LLC. raised its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 4.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,108 shares of the semiconductor company’s stock after buying an additional 352 shares during the quarter. Mather Group LLC.’s holdings in Microchip Technology were worth $727,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Rakuten Securities Inc. purchased a new stake in shares of Microchip Technology in the 4th quarter worth about $27,000. Rise Advisors LLC bought a new stake in shares of Microchip Technology during the first quarter valued at approximately $28,000. Pineridge Advisors LLC bought a new position in Microchip Technology in the 4th quarter valued at approximately $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 purchasing an additional 151 shares in the last quarter. Finally, Pathway Financial Advisers LLC purchased a new position in shares of Microchip Technology in the first quarter worth $39,000. Institutional investors own 91.51% of the company’s stock.

Insider Transactions at Microchip Technology

In other Microchip Technology news, Director Matthew W. Chapman sold 2,748 shares of Microchip Technology stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $93.88, for a total value of $257,982.24. Following the completion of the transaction, the director now directly owns 35,682 shares of the company’s stock, valued at approximately $3,349,826.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, VP Stephen V. Drehobl sold 7,830 shares of Microchip Technology stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $95.06, for a total value of $744,319.80. Following the completion of the transaction, the vice president now directly owns 79,509 shares in the company, valued at $7,558,125.54. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Matthew W. Chapman sold 2,748 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $93.88, for a total transaction of $257,982.24. Following the sale, the director now owns 35,682 shares of the company’s stock, valued at approximately $3,349,826.16. The disclosure for this sale can be found here. Insiders sold a total of 13,993 shares of company stock worth $1,343,057 over the last ninety days. Company insiders own 2.07% of the company’s stock.

Microchip Technology Price Performance

Shares of NASDAQ:MCHP traded up $0.09 during midday trading on Wednesday, hitting $74.76. The company had a trading volume of 1,939,339 shares, compared to its average volume of 5,974,580. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.20 and a quick ratio of 0.67. The business’s 50-day simple moving average is $90.69 and its 200-day simple moving average is $89.27. The stock has a market cap of $40.11 billion, a price-to-earnings ratio of 21.52 and a beta of 1.54. Microchip Technology Incorporated has a twelve month low of $68.75 and a twelve month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.52 by $0.01. Microchip Technology had a return on equity of 27.82% and a net margin of 20.80%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the previous year, the firm earned $1.56 EPS. The company’s quarterly revenue was down 45.8% compared to the same quarter last year. On average, research analysts predict that Microchip Technology Incorporated will post 2.35 earnings per share for the current year.

Microchip Technology Increases Dividend

The firm also recently disclosed 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 represents a $1.82 annualized dividend and a yield of 2.43%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, August 22nd. Microchip Technology’s dividend payout ratio is presently 52.16%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Morgan Stanley downgraded shares of Microchip Technology from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $102.00 to $100.00 in a research report on Thursday, July 11th. Jefferies Financial Group began coverage on shares of Microchip Technology in a research report on Monday, May 13th. They set a “buy” rating and a $115.00 price objective for the company. Needham & Company LLC dropped their price target 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. Piper Sandler reissued a “neutral” rating and issued a $90.00 price objective (up from $80.00) on shares of Microchip Technology in a research report on Tuesday, May 7th. Finally, Susquehanna decreased their price target on Microchip Technology from $115.00 to $105.00 and set a “positive” rating for the company in a research note on Friday, August 2nd. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus price target of $99.42.

About Microchip Technology

Microchip Technology Incorporated develops, manufactures, and sells 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 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.