Founders Financial Securities LLC Makes New Investment in Microchip Technology Incorporated (NASDAQ:MCHP)

Founders Financial Securities LLC acquired a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 7,672 shares of the semiconductor company’s stock, valued at approximately $688,000.

Other institutional investors have also recently added to or reduced their stakes in the company. BKM Wealth Management LLC acquired a new position in Microchip Technology during the fourth quarter valued at approximately $27,000. Rakuten Securities Inc. purchased a new position in Microchip Technology in the fourth quarter valued at about $27,000. Rise Advisors LLC acquired a new position in shares of Microchip Technology during the first quarter worth about $28,000. Fortitude Family Office LLC purchased a new stake in shares of Microchip Technology in the fourth quarter worth about $29,000. Finally, Pineridge Advisors LLC acquired a new stake in shares of Microchip Technology in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Stock Performance

MCHP stock traded up $2.07 during midday trading on Friday, reaching $91.50. The company had a trading volume of 13,568,641 shares, compared to its average volume of 6,205,653. The firm has a market capitalization of $49.13 billion, a PE ratio of 26.37 and a beta of 1.55. The stock has a 50 day moving average price of $93.02 and a 200 day moving average price of $89.10. Microchip Technology Incorporated has a fifty-two week low of $68.75 and a fifty-two week high of $100.57. The company has a quick ratio of 0.67, a current ratio of 1.20 and a debt-to-equity ratio of 0.75.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Monday, May 6th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. Microchip Technology had a return on equity of 36.78% and a net margin of 24.98%. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the firm posted $1.56 EPS. The business’s revenue for the quarter was down 40.6% compared to the same quarter last year. Analysts anticipate that Microchip Technology Incorporated will post 2.35 earnings per share for the current year.

Microchip Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were given a $0.452 dividend. The ex-dividend date of this dividend was Tuesday, May 21st. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.81 annualized dividend and a yield of 1.98%. Microchip Technology’s dividend payout ratio (DPR) is currently 52.16%.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,188 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $99.98, for a total value of $318,736.24. Following the sale, the chief financial officer now owns 33,257 shares in the company, valued at $3,325,034.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO James Eric Bjornholt sold 3,188 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $99.98, for a total value of $318,736.24. Following the completion of the transaction, the chief financial officer now owns 33,257 shares in the company, valued at approximately $3,325,034.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew W. Chapman sold 2,748 shares of the business’s stock in a transaction dated 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 in the company, valued at $3,349,826.16. The disclosure for this sale can be found here. Insiders sold 23,993 shares of company stock valued at $2,251,857 in the last ninety days. Company insiders own 2.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. B. Riley upped their price target on Microchip Technology from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Citigroup raised their price target on shares of Microchip Technology from $100.00 to $104.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. TD Cowen lifted their price target on shares of Microchip Technology from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Tuesday, May 7th. Susquehanna upped their price objective on shares of Microchip Technology from $100.00 to $105.00 and gave the company a “positive” rating in a research report on Tuesday, May 7th. Finally, Needham & Company LLC boosted their price target on Microchip Technology from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.06.

Microchip Technology Profile

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.