600 Shares in Microchip Technology Incorporated (NASDAQ:MCHP) Bought by Millstone Evans Group LLC

Millstone Evans Group LLC purchased a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 600 shares of the semiconductor company’s stock, valued at approximately $34,000.

Other large investors have also added to or reduced their stakes in the company. Mainstream Capital Management LLC purchased a new position in shares of Microchip Technology during the 4th quarter valued at about $26,000. Rakuten Securities Inc. grew its position in Microchip Technology by 309.5% during the fourth quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 359 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of Microchip Technology during the fourth quarter worth approximately $29,000. Financial Life Planners bought a new stake in shares of Microchip Technology in the 4th quarter worth approximately $32,000. Finally, Truvestments Capital LLC purchased a new stake in shares of Microchip Technology in the 3rd quarter valued at $34,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on MCHP. Morgan Stanley cut their price target on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. TD Cowen increased their target price on Microchip Technology from $50.00 to $60.00 and gave the company a “hold” rating in a report on Tuesday, March 4th. The Goldman Sachs Group reduced their price target on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Stifel Nicolaus lowered their price target on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Finally, B. Riley restated a “buy” rating and set a $75.00 target price (down previously from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Microchip Technology has an average rating of “Moderate Buy” and an average price target of $74.37.

Microchip Technology Trading Up 4.2 %

Shares of MCHP opened at $53.89 on Tuesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The company has a 50 day simple moving average of $56.13 and a two-hundred day simple moving average of $64.49. Microchip Technology Incorporated has a 1 year low of $49.92 and a 1 year high of $100.57. The firm has a market cap of $28.98 billion, a P/E ratio of 96.23 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data 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 net margin of 6.49% and a return on equity of 12.62%. On average, equities analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is presently 325.00%.

Insider Buying and Selling

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