Microchip Technology Incorporated (NASDAQ:MCHP) Holdings Lifted by Golden State Wealth Management LLC

Golden State Wealth Management LLC boosted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 2,701.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,541 shares of the semiconductor company’s stock after buying an additional 1,486 shares during the quarter. Golden State Wealth Management LLC’s holdings in Microchip Technology were worth $75,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Steph & Co. boosted its position in shares of Microchip Technology by 2,452.2% in the 1st quarter. Steph & Co. now owns 2,935 shares of the semiconductor company’s stock valued at $142,000 after purchasing an additional 2,820 shares during the period. Asset Management One Co. Ltd. boosted its position in shares of Microchip Technology by 6.4% in the 1st quarter. Asset Management One Co. Ltd. now owns 224,182 shares of the semiconductor company’s stock valued at $10,853,000 after purchasing an additional 13,513 shares during the period. Oppenheimer & Co. Inc. boosted its position in shares of Microchip Technology by 6.5% in the 1st quarter. Oppenheimer & Co. Inc. now owns 37,794 shares of the semiconductor company’s stock valued at $1,830,000 after purchasing an additional 2,295 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of Microchip Technology by 35.8% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 33,554 shares of the semiconductor company’s stock valued at $1,624,000 after purchasing an additional 8,843 shares during the period. Finally, Flagship Harbor Advisors LLC boosted its position in shares of Microchip Technology by 67.3% in the 1st quarter. Flagship Harbor Advisors LLC now owns 16,098 shares of the semiconductor company’s stock valued at $779,000 after purchasing an additional 6,474 shares during the period. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Down 0.2%

MCHP opened at $70.37 on Tuesday. Microchip Technology Incorporated has a fifty-two week low of $34.13 and a fifty-two week high of $96.98. The business has a 50-day moving average of $59.35 and a 200-day moving average of $55.33. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.59 and a quick ratio of 1.47. The company has a market capitalization of $37.96 billion, a PE ratio of -7,037.00, a price-to-earnings-growth ratio of 2.10 and a beta of 1.48.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. Microchip Technology had a positive return on equity of 8.55% and a negative net margin of 0.01%. The business had revenue of $970.50 million for the quarter, compared to the consensus estimate of $962.86 million. During the same period last year, the business earned $0.57 EPS. The firm’s revenue was down 26.8% compared to the same quarter last year. Equities research analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend was Thursday, May 22nd. Microchip Technology’s payout ratio is -18,200.00%.

Insider Buying and Selling

In related news, CFO James Eric Bjornholt sold 2,015 shares of the firm’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $55.78, for a total value of $112,396.70. Following the transaction, the chief financial officer directly owned 34,313 shares of the company’s stock, valued at approximately $1,913,979.14. This trade represents a 5.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Karlton D. Johnson sold 494 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $60.69, for a total value of $29,980.86. Following the completion of the transaction, the director directly owned 3,468 shares in the company, valued at $210,472.92. The trade was a 12.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

MCHP has been the subject of a number of recent analyst reports. Bank of America upgraded Microchip Technology from an “underperform” rating to a “neutral” rating and set a $56.00 price target for the company in a research report on Friday, May 9th. Wall Street Zen raised Microchip Technology from a “sell” rating to a “hold” rating in a research note on Friday. Stifel Nicolaus increased their price objective on Microchip Technology from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. UBS Group increased their price objective on Microchip Technology from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, May 30th. Finally, Cantor Fitzgerald began coverage on Microchip Technology in a research note on Wednesday, June 18th. They issued a “neutral” rating and a $70.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $70.15.

Microchip Technology 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.