4,159 Shares in Microchip Technology Incorporated (NASDAQ:MCHP) Acquired by One Wealth Advisors LLC

Key Points

• One Wealth Advisors LLC acquired a new stake in Microchip Technology, purchasing 4,159 shares valued at approximately $201,000.
• Equity analysts have given Microchip Technology an average rating of "Moderate Buy" with target prices ranging up to $88.00.
• The company declared a quarterly dividend of $0.455 per share, resulting in an annual yield of 2.63% for investors.

One Wealth Advisors LLC bought a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 4,159 shares of the semiconductor company's stock, valued at approximately $201,000.

A number of other hedge funds also recently modified their holdings of the business. Garde Capital Inc. purchased a new position in Microchip Technology during the first quarter valued at approximately $30,000. Orion Capital Management LLC acquired a new stake in Microchip Technology during the fourth quarter valued at $41,000. Aster Capital Management DIFC Ltd grew its stake in shares of Microchip Technology by 399.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 809 shares of the semiconductor company's stock valued at $46,000 after buying an additional 647 shares in the last quarter. Byrne Asset Management LLC acquired a new position in shares of Microchip Technology during the 1st quarter worth $41,000. Finally, GW&K Investment Management LLC increased its position in Microchip Technology by 161.0% during the first quarter. GW&K Investment Management LLC now owns 937 shares of the semiconductor company's stock worth $45,000 after buying an additional 578 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Insider Buying and Selling at Microchip Technology

In other news, Director Karlton D. Johnson sold 494 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $60.69, for a total transaction of $29,980.86. Following the sale, the director owned 3,468 shares in the company, valued at approximately $210,472.92. This represents a 12.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James Eric Bjornholt sold 2,015 shares of Microchip Technology stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $55.78, for a total value of $112,396.70. Following the completion of the transaction, the chief financial officer directly owned 34,313 shares of the company's stock, valued at $1,913,979.14. This represents a 5.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.94% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MCHP shares. Needham & Company LLC reissued a "buy" rating and issued a $66.00 price target on shares of Microchip Technology in a research report on Friday, May 9th. The Goldman Sachs Group initiated coverage on Microchip Technology in a research note on Thursday, July 10th. They set a "buy" rating and a $88.00 target price for the company. Stifel Nicolaus increased their price objective on Microchip Technology from $70.00 to $82.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Evercore ISI boosted their price objective on shares of Microchip Technology from $69.00 to $83.00 and gave the stock an "outperform" rating in a report on Thursday, June 12th. Finally, Bank of America upgraded shares of Microchip Technology from an "underperform" rating to a "neutral" rating and set a $56.00 target price for the company in a research note on Friday, May 9th. Six analysts have rated the stock with a hold rating, fourteen 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 company has an average rating of "Moderate Buy" and an average target price of $75.70.

Microchip Technology Trading Up 2.1%

Shares of MCHP stock opened at $69.21 on Friday. The company has a market capitalization of $37.35 billion, a P/E ratio of -6,921.00, a P/E/G ratio of 1.92 and a beta of 1.52. Microchip Technology Incorporated has a 12-month low of $34.13 and a 12-month high of $89.59. The company has a quick ratio of 1.47, a current ratio of 2.59 and a debt-to-equity ratio of 0.80. The firm has a 50-day moving average price of $67.83 and a 200 day moving average price of $57.38.

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 for the quarter, topping the consensus estimate of $0.10 by $0.01. Microchip Technology had a negative net margin of 0.01% and a positive return on equity of 8.55%. The company had revenue of $970.50 million during the quarter, compared to analyst estimates of $962.86 million. During the same quarter last year, the business posted $0.57 earnings per share. The company's revenue was down 26.8% on a year-over-year basis. Research analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were issued a dividend of $0.455 per share. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 2.63%. Microchip Technology's dividend payout ratio is -18,200.00%.

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.

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