Mainstream Capital Management LLC Buys Shares of 456 Microchip Technology Incorporated (NASDAQ:MCHP)

Mainstream Capital Management LLC purchased a new position in Microchip Technology Incorporated (NASDAQ:MCHP) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 456 shares of the semiconductor company’s stock, valued at approximately $26,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Alley Investment Management Company LLC boosted its stake in Microchip Technology by 7.2% during the 4th quarter. Alley Investment Management Company LLC now owns 185,306 shares of the semiconductor company’s stock valued at $10,627,000 after purchasing an additional 12,398 shares in the last quarter. Ariston Services Group boosted its stake in Microchip Technology by 25.1% during the fourth quarter. Ariston Services Group now owns 4,708 shares of the semiconductor company’s stock valued at $270,000 after buying an additional 944 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in Microchip Technology by 22.9% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 13,422 shares of the semiconductor company’s stock valued at $767,000 after buying an additional 2,505 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Microchip Technology by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,143,769 shares of the semiconductor company’s stock worth $180,295,000 after acquiring an additional 116,823 shares during the period. Finally, Plato Investment Management Ltd raised its position in Microchip Technology by 406.2% in the fourth quarter. Plato Investment Management Ltd now owns 17,712 shares of the semiconductor company’s stock worth $1,019,000 after acquiring an additional 14,213 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Trading Up 0.3 %

Microchip Technology stock opened at $58.14 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. Microchip Technology Incorporated has a 12 month low of $50.21 and a 12 month high of $100.57. The company’s fifty day simple moving average is $56.93 and its 200-day simple moving average is $67.04. The stock has a market cap of $31.27 billion, a P/E ratio of 103.82 and a beta of 1.50.

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

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.455 per share. The ex-dividend date is Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.13%. Microchip Technology’s dividend payout ratio is currently 325.00%.

Analyst Upgrades and Downgrades

MCHP has been the topic of several recent research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $65.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Evercore ISI lifted their price target on shares of Microchip Technology from $65.00 to $71.00 and gave the stock an “outperform” rating in a research report on Tuesday. StockNews.com lowered Microchip Technology from a “hold” rating to a “sell” rating in a research note on Monday, February 10th. Stifel Nicolaus cut their target price on Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, December 3rd. Finally, KeyCorp reduced their target price on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, February 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.37.

Insider Buying and Selling

In related news, CFO James Eric Bjornholt sold 3,724 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the sale, the chief financial officer now directly owns 33,272 shares of the company’s stock, valued at approximately $2,025,599.36. This represents a 10.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.10% of the stock is currently owned by corporate insiders.

About Microchip Technology

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.