Microchip Technology Incorporated (NASDAQ:MCHP) Holdings Lifted by Iams Wealth Management LLC

Iams Wealth Management LLC boosted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 7.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,539 shares of the semiconductor company’s stock after buying an additional 1,012 shares during the quarter. Iams Wealth Management LLC’s holdings in Microchip Technology were worth $1,195,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of MCHP. Horizon Bancorp Inc. IN purchased a new stake in shares of Microchip Technology during the fourth quarter valued at $110,000. Rockline Wealth Management LLC purchased a new stake in shares of Microchip Technology during the fourth quarter valued at $4,449,000. Caxton Associates LP lifted its stake in Microchip Technology by 4,511.5% in the 4th quarter. Caxton Associates LP now owns 400,000 shares of the semiconductor company’s stock worth $36,072,000 after acquiring an additional 391,326 shares in the last quarter. RFG Advisory LLC lifted its stake in Microchip Technology by 228.4% in the 1st quarter. RFG Advisory LLC now owns 12,841 shares of the semiconductor company’s stock worth $1,152,000 after acquiring an additional 8,931 shares in the last quarter. Finally, 17 Capital Partners LLC purchased a new stake in Microchip Technology in the 4th quarter worth about $1,827,000. Institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In other Microchip Technology news, 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 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 $3,349,826.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, 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 value of $257,982.24. Following the sale, the director now directly owns 35,682 shares in the company, valued at $3,349,826.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO James Eric Bjornholt sold 3,188 shares of the business’s 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 sale, the chief financial officer now owns 33,257 shares in the company, valued at $3,325,034.86. The disclosure for this sale can be found here. Insiders sold a total of 23,993 shares of company stock valued at $2,251,857 over the last three months. Company insiders own 2.07% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. 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 note on Tuesday, May 7th. Mizuho raised Microchip Technology from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $115.00 in a research note on Friday, May 24th. Jefferies Financial Group initiated coverage on Microchip Technology in a research note on Monday, May 13th. They set a “buy” rating and a $115.00 price target for the company. Needham & Company LLC raised 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. Finally, Susquehanna raised their price target on Microchip Technology from $100.00 to $105.00 and gave the stock a “positive” rating in a research note on Tuesday, May 7th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $101.06.

Microchip Technology Price Performance

Shares of Microchip Technology stock traded down $0.32 during midday trading on Tuesday, hitting $91.27. 695,684 shares of the company were exchanged, compared to its average volume of 5,770,870. The firm has a 50 day simple moving average of $93.02 and a 200-day simple moving average of $89.10. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.20 and a quick ratio of 0.67. Microchip Technology Incorporated has a 52 week low of $68.75 and a 52 week high of $100.57. The firm has a market cap of $49.00 billion, a P/E ratio of 26.57 and a beta of 1.54.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Monday, May 6th. The semiconductor company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. Microchip Technology had a return on equity of 36.78% and a net margin of 24.98%. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the firm earned $1.56 EPS. The business’s revenue for the quarter was down 40.6% on a year-over-year basis. Research analysts forecast that Microchip Technology Incorporated will post 2.35 earnings per share for the current year.

Microchip Technology Increases Dividend

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

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.