Bellwether Advisors LLC Makes New Investment in Microchip Technology Incorporated (NASDAQ:MCHP)

Bellwether Advisors LLC purchased a new stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 153,032 shares of the semiconductor company's stock, valued at approximately $8,776,000. Microchip Technology makes up about 1.6% of Bellwether Advisors LLC's portfolio, making the stock its 13th biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in MCHP. Virtu Financial LLC bought a new position in Microchip Technology in the 3rd quarter valued at $491,000. Stock Yards Bank & Trust Co. boosted its stake in shares of Microchip Technology by 3.3% during 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 in the last quarter. World Investment Advisors LLC raised its position in shares of Microchip Technology by 11.7% in the 3rd quarter. World Investment Advisors LLC now owns 42,882 shares of the semiconductor company's stock worth $3,443,000 after acquiring an additional 4,477 shares in the last quarter. Arvest Bank Trust Division bought a new stake in Microchip Technology during the third quarter worth about $223,000. Finally, Wilmington Savings Fund Society FSB increased its position in Microchip Technology by 16.6% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 60,394 shares of the semiconductor company's stock valued at $4,849,000 after buying an additional 8,592 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Insider Activity at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the completion of the sale, the chief financial officer now directly owns 33,272 shares in the company, valued at approximately $2,025,599.36. This trade represents a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.10% of the stock is currently owned by corporate insiders.

Microchip Technology Trading Down 0.5 %

Shares of MCHP opened at $46.89 on Monday. The firm has a market capitalization of $25.22 billion, a price-to-earnings ratio of 83.73 and a beta of 1.51. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. Microchip Technology Incorporated has a 1-year low of $34.13 and a 1-year high of $100.57. The company has a 50-day moving average of $49.48 and a 200 day moving average of $58.29.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. On average, research analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were given a $0.455 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 3.88%. Microchip Technology's payout ratio is presently 325.00%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MCHP shares. Stifel Nicolaus dropped their price target on shares of Microchip Technology from $80.00 to $60.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Citigroup reduced their price target on shares of Microchip Technology from $65.00 to $50.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Needham & Company LLC increased their target price on Microchip Technology from $60.00 to $66.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. StockNews.com cut Microchip Technology from a "hold" rating to a "sell" rating in a research note on Monday, February 10th. Finally, Mizuho boosted their price objective on shares of Microchip Technology from $58.00 to $68.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $69.32.

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.

Want to see what other hedge funds are holding MCHP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microchip Technology Incorporated (NASDAQ:MCHP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.