Crestline Management LP Purchases 45,547 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Crestline Management LP raised its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 227.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,547 shares of the semiconductor company's stock after buying an additional 45,547 shares during the quarter. Crestline Management LP's holdings in Microchip Technology were worth $3,759,000 as of its most recent SEC filing.

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

Microchip Technology Stock Up 11.3%

Shares of MCHP stock traded up $6.26 on Monday, hitting $61.59. The stock had a trading volume of 8,085,680 shares, compared to its average volume of 8,408,732. The business has a 50 day moving average of $47.06 and a 200 day moving average of $56.31. The stock has a market cap of $33.12 billion, a price-to-earnings ratio of 110.19 and a beta of 1.42. 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 12-month low of $34.13 and a 12-month high of $100.57.

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

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 22nd will be issued a dividend of $0.455 per share. The ex-dividend date is Thursday, May 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 2.96%. Microchip Technology's dividend payout ratio (DPR) is presently -18,200.00%.

Analyst Ratings Changes

MCHP has been the topic of a number of research reports. Bank of America raised shares of Microchip Technology from an "underperform" rating to a "neutral" rating and set a $56.00 target price on the stock in a report on Friday. Evercore ISI upped their price target on shares of Microchip Technology from $65.00 to $71.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. Stifel Nicolaus upped their price target on shares of Microchip Technology from $60.00 to $70.00 and gave the company a "buy" rating in a research report on Friday. KeyCorp decreased their price target on shares of Microchip Technology from $70.00 to $60.00 and set an "overweight" rating for the company in a research report on Friday, February 7th. Finally, 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 report on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $67.42.

Insider Buying and Selling

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

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.