J.W. Cole Advisors Inc. Acquires New Shares in Microchip Technology Incorporated (NASDAQ:MCHP)

J.W. Cole Advisors Inc. acquired a new stake in Microchip Technology Incorporated (NASDAQ:MCHPGet Rating) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 64,398 shares of the semiconductor company’s stock, valued at approximately $55,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Microchip Technology by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 64,426,179 shares of the semiconductor company’s stock valued at $4,840,982,000 after purchasing an additional 691,754 shares during the last quarter. Dodge & Cox lifted its position in Microchip Technology by 87.3% during the 4th quarter. Dodge & Cox now owns 29,539,169 shares of the semiconductor company’s stock worth $2,571,680,000 after acquiring an additional 13,768,272 shares during the last quarter. Principal Financial Group Inc. lifted its position in Microchip Technology by 1.9% during the 1st quarter. Principal Financial Group Inc. now owns 10,818,661 shares of the semiconductor company’s stock worth $812,914,000 after acquiring an additional 200,602 shares during the last quarter. Northern Trust Corp lifted its position in Microchip Technology by 1.7% during the 1st quarter. Northern Trust Corp now owns 7,553,578 shares of the semiconductor company’s stock worth $567,576,000 after acquiring an additional 123,806 shares during the last quarter. Finally, Norges Bank acquired a new position in Microchip Technology during the 4th quarter worth $462,517,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Activity

In other news, Director Matthew W. Chapman sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $68.21, for a total transaction of $68,210.00. Following the sale, the director now directly owns 37,682 shares of the company’s stock, valued at $2,570,289.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Matthew W. Chapman sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $68.21, for a total value of $68,210.00. Following the transaction, the director now directly owns 37,682 shares in the company, valued at $2,570,289.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO James Eric Bjornholt sold 2,379 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $68.21, for a total transaction of $162,271.59. Following the completion of the transaction, the chief financial officer now owns 35,333 shares in the company, valued at $2,410,063.93. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on MCHP. Cowen boosted their target price on shares of Microchip Technology from $60.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 3rd. Needham & Company LLC boosted their target price on shares of Microchip Technology from $75.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Bank of America cut their target price on shares of Microchip Technology from $85.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, June 29th. B. Riley upped their price objective on shares of Microchip Technology from $78.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Finally, Stifel Nicolaus raised shares of Microchip Technology from a “hold” rating to a “buy” rating and upped their price objective for the company from $70.00 to $75.00 in a research report on Tuesday, June 28th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $89.73.

Microchip Technology Price Performance

Shares of Microchip Technology stock opened at $63.31 on Friday. The company has a current ratio of 1.78, a quick ratio of 1.17 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $34.98 billion, a price-to-earnings ratio of 23.28, a P/E/G ratio of 0.82 and a beta of 1.62. Microchip Technology Incorporated has a 1-year low of $54.33 and a 1-year high of $90.00. The firm’s 50-day moving average price is $67.40 and its two-hundred day moving average price is $67.11.

Microchip Technology (NASDAQ:MCHPGet Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The semiconductor company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.10. Microchip Technology had a net margin of 21.34% and a return on equity of 44.90%. During the same quarter in the previous year, the business earned $0.88 EPS. On average, equities analysts predict that Microchip Technology Incorporated will post 5.42 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Friday, August 19th were paid a dividend of $0.301 per share. This is a boost from Microchip Technology’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Thursday, August 18th. Microchip Technology’s dividend payout ratio is 44.12%.

Microchip Technology Company Profile

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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 microprocessors markets; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.

See Also

Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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