Marshall Financial Group LLC Purchases 1,230 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Marshall Financial Group LLC grew its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 12.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,911 shares of the semiconductor company’s stock after buying an additional 1,230 shares during the quarter. Marshall Financial Group LLC’s holdings in Microchip Technology were worth $979,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. First Trust Direct Indexing L.P. lifted its position in Microchip Technology by 10.7% in the 1st quarter. First Trust Direct Indexing L.P. now owns 12,600 shares of the semiconductor company’s stock valued at $1,130,000 after acquiring an additional 1,223 shares in the last quarter. Advisor Resource Council bought a new position in Microchip Technology in the 1st quarter valued at approximately $238,000. Norden Group LLC lifted its position in Microchip Technology by 1,893.9% in the 1st quarter. Norden Group LLC now owns 54,992 shares of the semiconductor company’s stock valued at $4,934,000 after acquiring an additional 52,234 shares in the last quarter. Valley National Advisers Inc. lifted its position in Microchip Technology by 136.0% in the 1st quarter. Valley National Advisers Inc. now owns 11,519 shares of the semiconductor company’s stock valued at $1,033,000 after acquiring an additional 6,639 shares in the last quarter. Finally, Trust Co. of Oklahoma lifted its position in Microchip Technology by 7.2% in the 1st quarter. Trust Co. of Oklahoma now owns 7,400 shares of the semiconductor company’s stock valued at $664,000 after acquiring an additional 494 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Price Performance

MCHP stock traded up $1.52 during trading on Thursday, reaching $93.58. The company’s stock had a trading volume of 2,438,229 shares, compared to its average volume of 6,481,273. Microchip Technology Incorporated has a 1 year low of $68.75 and a 1 year 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. The company has a market capitalization of $50.24 billion, a P/E ratio of 26.97 and a beta of 1.54. The company’s fifty day moving average is $93.35 and its 200-day moving average is $89.12.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Monday, May 6th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, hitting 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 prior year, the business posted $1.56 EPS. Microchip Technology’s revenue for the quarter was down 40.6% compared to the same quarter last year. On average, research analysts expect that Microchip Technology Incorporated will post 2.35 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd were paid a $0.452 dividend. This represents a $1.81 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Tuesday, May 21st. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio is presently 52.16%.

Insiders Place Their Bets

In other Microchip Technology 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 transaction of $318,736.24. Following the completion of the transaction, the chief financial officer now owns 33,257 shares of the company’s stock, valued at approximately $3,325,034.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO James Eric Bjornholt sold 3,188 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $99.98, for a total transaction of $318,736.24. Following the completion of the transaction, the chief financial officer now directly owns 33,257 shares in the company, valued at approximately $3,325,034.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew W. Chapman sold 2,748 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $93.88, for a total transaction 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 disclosure for this sale can be found here. In the last quarter, insiders sold 23,993 shares of company stock worth $2,251,857. Corporate insiders own 2.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MCHP. Citigroup upped their price objective on Microchip Technology from $100.00 to $104.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. UBS Group boosted their target price on shares of Microchip Technology from $95.00 to $103.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Needham & Company LLC boosted their target price on shares of Microchip Technology from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. B. Riley boosted their target price on shares of Microchip Technology from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Finally, The Goldman Sachs Group boosted their target price on shares of Microchip Technology from $77.00 to $88.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $101.06.

About Microchip Technology

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.