Microchip Technology Incorporated (NASDAQ:MCHP) Holdings Boosted by Larson Financial Group LLC

Larson Financial Group LLC boosted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 14.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,366 shares of the semiconductor company’s stock after purchasing an additional 428 shares during the period. Larson Financial Group LLC’s holdings in Microchip Technology were worth $193,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Edgestream Partners L.P. boosted its stake in shares of Microchip Technology by 232.1% during the 4th quarter. Edgestream Partners L.P. now owns 124,125 shares of the semiconductor company’s stock valued at $7,119,000 after buying an additional 86,748 shares during the period. Callan Family Office LLC boosted its stake in shares of Microchip Technology by 1,338.9% during the 4th quarter. Callan Family Office LLC now owns 58,133 shares of the semiconductor company’s stock valued at $3,334,000 after buying an additional 54,093 shares during the period. E Fund Management Co. Ltd. boosted its stake in shares of Microchip Technology by 37.8% during the 4th quarter. E Fund Management Co. Ltd. now owns 17,388 shares of the semiconductor company’s stock valued at $997,000 after buying an additional 4,774 shares during the period. Promus Capital LLC acquired a new stake in shares of Microchip Technology during the 4th quarter valued at $130,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Microchip Technology during the 4th quarter valued at $3,818,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Mizuho lifted their target price on shares of Microchip Technology from $58.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. StockNews.com lowered shares of Microchip Technology from a “hold” rating to a “sell” rating in a research note on Monday, February 10th. Bank of America lowered shares of Microchip Technology from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $80.00 to $65.00 in a research note on Monday, December 16th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Microchip Technology in a research note on Tuesday, March 4th. Finally, Needham & Company LLC lifted their price objective on shares of Microchip Technology from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $74.37.

Insider Transactions at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the transaction, the chief financial officer now owns 33,272 shares in the company, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.10% of the company’s stock.

Microchip Technology Stock Down 2.3 %

Microchip Technology stock opened at $52.24 on Wednesday. The firm has a market cap of $28.10 billion, a price-to-earnings ratio of 93.29 and a beta of 1.52. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. Microchip Technology Incorporated has a fifty-two week low of $50.21 and a fifty-two week high of $100.57. The firm has a fifty day moving average price of $56.80 and a two-hundred day moving average price of $66.17.

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

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were issued a dividend of $0.455 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 3.48%. Microchip Technology’s payout ratio is 325.00%.

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.