Benjamin Edwards Inc. Grows Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Benjamin Edwards Inc. boosted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 60.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,072 shares of the semiconductor company's stock after purchasing an additional 5,664 shares during the period. Benjamin Edwards Inc.'s holdings in Microchip Technology were worth $864,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MCHP. Federated Hermes Inc. increased its holdings in shares of Microchip Technology by 0.5% in the 4th quarter. Federated Hermes Inc. now owns 39,298 shares of the semiconductor company's stock valued at $2,254,000 after acquiring an additional 209 shares during the last quarter. Lebenthal Global Advisors LLC raised its position in Microchip Technology by 7.3% during the fourth quarter. Lebenthal Global Advisors LLC now owns 3,894 shares of the semiconductor company's stock valued at $223,000 after buying an additional 266 shares during the period. CreativeOne Wealth LLC increased its position in Microchip Technology by 1.0% in the 4th quarter. CreativeOne Wealth LLC now owns 28,842 shares of the semiconductor company's stock worth $1,654,000 after purchasing an additional 283 shares during the last quarter. Elmwood Wealth Management Inc. increased its holdings in shares of Microchip Technology by 1.5% during the 4th quarter. Elmwood Wealth Management Inc. now owns 20,558 shares of the semiconductor company's stock valued at $1,179,000 after acquiring an additional 300 shares during the last quarter. Finally, Legacy Financial Advisors Inc. boosted its stake in Microchip Technology by 8.1% during the 4th quarter. Legacy Financial Advisors Inc. now owns 4,176 shares of the semiconductor company's stock valued at $239,000 after purchasing an additional 312 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MCHP shares. Truist Financial raised their price target on Microchip Technology from $43.00 to $52.00 and gave the company a "hold" rating in a report on Friday. StockNews.com cut Microchip Technology from a "hold" rating to a "sell" rating in a research note on Monday, February 10th. B. Riley lifted their price objective on Microchip Technology from $60.00 to $75.00 and gave the stock a "buy" rating in a research note on Friday. Needham & Company LLC reissued a "buy" rating and issued a $66.00 target price on shares of Microchip Technology in a research note on Friday. Finally, Citigroup boosted their price target on Microchip Technology from $50.00 to $55.00 and gave the company a "buy" rating in a report on Friday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $67.42.

Insider Buying and Selling at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the transaction, the chief financial officer now directly owns 33,272 shares in the company, valued at $2,025,599.36. This represents a 10.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.10% of the stock is owned by insiders.

Microchip Technology Stock Performance

NASDAQ MCHP traded up $5.63 during mid-day trading on Monday, reaching $60.96. 20,946,050 shares of the stock were exchanged, compared to its average volume of 8,457,267. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. The company has a market capitalization of $32.79 billion, a P/E ratio of 108.86 and a beta of 1.42. Microchip Technology Incorporated has a 1 year low of $34.13 and a 1 year high of $100.57. The business's 50 day moving average is $47.06 and its 200-day moving average is $56.31.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The firm had revenue of $970.50 million during the quarter, compared to analysts' expectations of $962.86 million. Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. Microchip Technology's revenue was down 26.8% compared to the same quarter last year. During the same period last year, the business earned $0.57 earnings per share. On average, equities research analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 22nd will be given a $0.455 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.99%. Microchip Technology's dividend payout ratio is presently -18,200.00%.

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.