Disciplined Growth Investors Inc. MN Decreases Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Disciplined Growth Investors Inc. MN trimmed its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 0.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,740,382 shares of the semiconductor company’s stock after selling 4,124 shares during the quarter. Microchip Technology makes up approximately 3.0% of Disciplined Growth Investors Inc. MN’s holdings, making the stock its 10th biggest position. Disciplined Growth Investors Inc. MN owned 0.32% of Microchip Technology worth $159,245,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Swedbank AB purchased a new stake in shares of Microchip Technology in the first quarter worth about $1,079,000. Caxton Associates LP raised its holdings in shares of Microchip Technology by 4,511.5% during the 4th quarter. Caxton Associates LP now owns 400,000 shares of the semiconductor company’s stock worth $36,072,000 after acquiring an additional 391,326 shares in the last quarter. SageView Advisory Group LLC boosted its position in shares of Microchip Technology by 507.5% during the 1st quarter. SageView Advisory Group LLC now owns 17,307 shares of the semiconductor company’s stock valued at $1,553,000 after acquiring an additional 14,458 shares during the last quarter. RFG Advisory LLC grew its holdings in shares of Microchip Technology by 228.4% in the first quarter. RFG Advisory LLC now owns 12,841 shares of the semiconductor company’s stock valued at $1,152,000 after purchasing an additional 8,931 shares in the last quarter. Finally, Hennessy Advisors Inc. increased its position in Microchip Technology by 2,194.5% in the first quarter. Hennessy Advisors Inc. now owns 33,454 shares of the semiconductor company’s stock worth $3,001,000 after purchasing an additional 31,996 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on MCHP. StockNews.com lowered shares of Microchip Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, September 24th. Piper Sandler raised shares of Microchip Technology from a “neutral” rating to an “overweight” rating and increased their price target for the company from $90.00 to $100.00 in a report on Friday, August 16th. Citigroup dropped their price target on Microchip Technology from $104.00 to $92.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Needham & Company LLC decreased their price objective on Microchip Technology from $100.00 to $96.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. Finally, Morgan Stanley cut Microchip Technology from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $102.00 to $100.00 in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average target price of $99.47.

Microchip Technology Stock Up 0.3 %

Shares of NASDAQ:MCHP opened at $80.59 on Friday. The business’s 50 day moving average is $79.81 and its 200 day moving average is $87.32. The stock has a market cap of $43.24 billion, a P/E ratio of 23.22 and a beta of 1.53. Microchip Technology Incorporated has a 52-week low of $68.75 and a 52-week high of $100.57. The company has a quick ratio of 1.08, a current ratio of 1.94 and a debt-to-equity ratio of 0.96.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. Microchip Technology had a return on equity of 28.33% and a net margin of 20.80%. The business’s revenue was down 45.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.56 EPS. Sell-side analysts predict that Microchip Technology Incorporated will post 1.74 EPS for the current year.

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were issued a $0.454 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.25%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s payout ratio is currently 52.16%.

Insider Transactions at Microchip Technology

In related news, CFO James Eric Bjornholt sold 2,154 shares of Microchip Technology stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $81.50, for a total transaction of $175,551.00. Following the transaction, the chief financial officer now directly 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 accessible through this link. Corporate insiders own 2.07% of the company’s stock.

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.