Guggenheim Capital LLC Has $13.76 Million Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Guggenheim Capital LLC boosted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 2.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 239,953 shares of the semiconductor company’s stock after buying an additional 6,325 shares during the quarter. Guggenheim Capital LLC’s holdings in Microchip Technology were worth $13,761,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MCHP. Virtu Financial LLC bought a new position in shares of Microchip Technology in the third quarter worth about $491,000. Stock Yards Bank & Trust Co. lifted its stake in Microchip Technology by 3.3% in the 3rd quarter. Stock Yards Bank & Trust Co. now owns 11,517 shares of the semiconductor company’s stock valued at $925,000 after purchasing an additional 368 shares during the last quarter. World Investment Advisors LLC boosted its position in Microchip Technology by 11.7% in the third quarter. World Investment Advisors LLC now owns 42,882 shares of the semiconductor company’s stock valued at $3,443,000 after buying an additional 4,477 shares in the last quarter. Arvest Bank Trust Division bought a new stake in shares of Microchip Technology during the third quarter worth $223,000. Finally, Wilmington Savings Fund Society FSB increased its holdings in shares of Microchip Technology by 16.6% during the third quarter. Wilmington Savings Fund Society FSB now owns 60,394 shares of the semiconductor company’s stock worth $4,849,000 after buying an additional 8,592 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MCHP has been the topic of several recent research reports. Morgan Stanley cut their price objective on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Piper Sandler reissued an “overweight” rating and set a $65.00 price target (down from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Evercore ISI upped their price objective on Microchip Technology from $65.00 to $71.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. The Goldman Sachs Group cut their target price on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Finally, Raymond James restated a “strong-buy” rating and issued a $60.00 price target (down from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.68.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $38.73 on Wednesday. The firm has a 50 day moving average of $51.55 and a 200-day moving average of $60.45. The company has a market cap of $20.83 billion, a price-to-earnings ratio of 69.16 and a beta of 1.51. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. Microchip Technology Incorporated has a 52 week low of $34.13 and a 52 week high of $100.57.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS 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%. On average, equities analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were issued a $0.455 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 4.70%. Microchip Technology’s payout ratio is currently 325.00%.

Insider Buying and Selling at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology 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 completion of the transaction, the chief financial officer now directly owns 33,272 shares in the company, valued at $2,025,599.36. This trade represents a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.10% of the company’s stock.

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.