Captrust Financial Advisors Buys 5,608 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Captrust Financial Advisors grew its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 166,934 shares of the semiconductor company's stock after purchasing an additional 5,608 shares during the quarter. Captrust Financial Advisors' holdings in Microchip Technology were worth $9,574,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Cary Street Partners Financial LLC bought a new stake in shares of Microchip Technology in the 4th quarter valued at $109,000. Benjamin Edwards Inc. lifted its holdings in shares of Microchip Technology by 60.2% in the fourth quarter. Benjamin Edwards Inc. now owns 15,072 shares of the semiconductor company's stock valued at $864,000 after purchasing an additional 5,664 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in Microchip Technology during the 4th quarter worth $47,573,000. Aptus Capital Advisors LLC increased its stake in Microchip Technology by 66.5% in the 4th quarter. Aptus Capital Advisors LLC now owns 8,089 shares of the semiconductor company's stock valued at $464,000 after buying an additional 3,232 shares during the last quarter. Finally, 1248 Management LLC bought a new stake in Microchip Technology during the fourth quarter worth $501,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Microchip Technology

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

Microchip Technology Trading Up 12.6 %

Shares of Microchip Technology stock traded up $6.19 during midday trading on Friday, reaching $55.33. 21,358,016 shares of the company's stock traded hands, compared to its average volume of 8,407,364. The company has a market cap of $29.76 billion, a PE ratio of 98.80 and a beta of 1.42. The stock has a 50 day moving average of $47.06 and a 200-day moving average of $56.44. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $100.57. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25.

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

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Thursday, May 22nd. Microchip Technology's payout ratio is presently -18,200.00%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Morgan Stanley upped their price target on shares of Microchip Technology from $39.00 to $50.00 and gave the company an "equal weight" rating in a research note on Friday. TD Cowen raised their price objective on shares of Microchip Technology from $35.00 to $55.00 and gave the company a "hold" rating in a research report on Friday. Mizuho upped their target price on shares of Microchip Technology from $58.00 to $68.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 4th. Truist Financial lifted their price target on Microchip Technology from $43.00 to $52.00 and gave the stock a "hold" rating in a research note on Friday. Finally, Needham & Company LLC reiterated a "buy" rating and set a $66.00 price objective on shares of Microchip Technology in a research report on Friday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $67.42.

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.