Aptus Capital Advisors LLC Acquires 280 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Aptus Capital Advisors LLC boosted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 5.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,060 shares of the semiconductor company’s stock after purchasing an additional 280 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Microchip Technology were worth $463,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MCHP. Spinnaker Trust purchased a new position in shares of Microchip Technology during the second quarter valued at about $203,000. Davidson Investment Advisors boosted its stake in Microchip Technology by 29.0% during the second quarter. Davidson Investment Advisors now owns 225,231 shares of the semiconductor company’s stock valued at $20,609,000 after buying an additional 50,574 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Microchip Technology by 50.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 8,333 shares of the semiconductor company’s stock valued at $763,000 after buying an additional 2,809 shares in the last quarter. Confluence Wealth Services Inc. increased its stake in Microchip Technology by 3.2% in the 2nd quarter. Confluence Wealth Services Inc. now owns 10,766 shares of the semiconductor company’s stock worth $985,000 after acquiring an additional 336 shares during the last quarter. Finally, Graypoint LLC raised its holdings in shares of Microchip Technology by 10.2% during the 2nd quarter. Graypoint LLC now owns 5,448 shares of the semiconductor company’s stock worth $499,000 after acquiring an additional 505 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Price Performance

Microchip Technology stock opened at $76.40 on Wednesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.94 and a quick ratio of 1.08. The stock has a market cap of $40.99 billion, a price-to-earnings ratio of 22.02 and a beta of 1.54. The firm has a 50-day moving average of $85.24 and a two-hundred day moving average of $88.43. Microchip Technology Incorporated has a 1 year low of $68.75 and a 1 year high of $100.57.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.24 billion. Microchip Technology had a return on equity of 28.33% and a net margin of 20.80%. Microchip Technology’s quarterly revenue was down 45.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.56 earnings per share. On average, research analysts forecast that Microchip Technology Incorporated will post 1.74 earnings per share for the current year.

Microchip Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 22nd will be issued a $0.454 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, August 22nd. Microchip Technology’s payout ratio is presently 52.16%.

Analyst Ratings Changes

Several brokerages recently weighed in on MCHP. Truist Financial reduced their price target on shares of Microchip Technology from $96.00 to $89.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Jefferies Financial Group started coverage on shares of Microchip Technology in a research report on Monday, May 13th. They set a “buy” rating and a $115.00 target price on the stock. Susquehanna dropped their price target on Microchip Technology from $115.00 to $105.00 and set a “positive” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. decreased their price objective on Microchip Technology from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group raised their price objective on Microchip Technology from $77.00 to $88.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $99.95.

Insider Buying and Selling

In other news, Director Matthew W. Chapman sold 2,748 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $93.88, for a total value of $257,982.24. Following the completion of the sale, the director now owns 35,682 shares in the company, valued at approximately $3,349,826.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO James Eric Bjornholt sold 2,154 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $81.50, for a total transaction of $175,551.00. Following the sale, the chief financial officer now owns 33,257 shares of the company’s stock, valued at $2,710,445.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction of $257,982.24. Following the completion of the transaction, the director now owns 35,682 shares of the company’s stock, valued at $3,349,826.16. The disclosure for this sale can be found here. 2.07% of the stock is owned by insiders.

Microchip Technology Company Profile

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.