West Family Investments Inc. Purchases New Shares in Microchip Technology Incorporated (NASDAQ:MCHP)

West Family Investments Inc. acquired a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,525 shares of the semiconductor company’s stock, valued at approximately $203,000.

A number of other institutional investors also recently bought and sold shares of the business. Peterson Financial Group Inc. acquired a new stake in shares of Microchip Technology during the third quarter worth $34,000. Pathway Financial Advisers LLC purchased a new position in Microchip Technology during the 1st quarter worth $39,000. Versant Capital Management Inc lifted its stake in shares of Microchip Technology by 148.8% in the 2nd quarter. Versant Capital Management Inc now owns 530 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 317 shares during the period. Wolff Wiese Magana LLC boosted its holdings 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 acquiring an additional 218 shares in the last quarter. Finally, TruNorth Capital Management LLC acquired a new position 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 Transactions 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 transaction of $175,551.00. Following the transaction, the chief financial officer now directly owns 33,257 shares in the company, valued at $2,710,445.50. This represents a 6.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.10% of the company’s stock.

Microchip Technology Stock Up 0.4 %

Shares of NASDAQ:MCHP opened at $65.12 on Thursday. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $34.97 billion, a P/E ratio of 45.54 and a beta of 1.53. Microchip Technology Incorporated has a 52-week low of $62.63 and a 52-week high of $100.57. The stock’s fifty day simple moving average is $75.00 and its 200-day simple moving average is $83.54.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The firm’s quarterly revenue was down 48.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.54 EPS. As a group, equities research analysts forecast that Microchip Technology Incorporated will post 1.38 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Friday, November 22nd. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio is currently 127.27%.

Analyst Ratings Changes

MCHP has been the subject of a number of recent analyst reports. Evercore ISI restated an “outperform” rating and issued a $95.00 price objective (down previously from $101.00) on shares of Microchip Technology in a research report on Wednesday, November 6th. B. Riley decreased their price target on Microchip Technology from $110.00 to $103.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. StockNews.com cut Microchip Technology from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Mizuho set a $95.00 target price on shares of Microchip Technology in a research report on Friday, October 18th. Finally, Susquehanna cut their price target on shares of Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $92.00.

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.