Buttonwood Financial Advisors Inc. Has $5.17 Million Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Buttonwood Financial Advisors Inc. increased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 19.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,745 shares of the semiconductor company's stock after acquiring an additional 17,359 shares during the quarter. Microchip Technology accounts for about 2.3% of Buttonwood Financial Advisors Inc.'s holdings, making the stock its 14th largest position. Buttonwood Financial Advisors Inc.'s holdings in Microchip Technology were worth $5,168,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Mainstream Capital Management LLC purchased a new position in Microchip Technology during the fourth quarter valued at approximately $26,000. Rakuten Securities Inc. grew its position in Microchip Technology by 309.5% in the fourth quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company's stock worth $27,000 after acquiring an additional 359 shares in the last quarter. OFI Invest Asset Management bought a new stake in Microchip Technology in the fourth quarter worth approximately $29,000. Garde Capital Inc. bought a new stake in Microchip Technology in the first quarter worth approximately $30,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in Microchip Technology in the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Microchip Technology Trading Down 0.4%

MCHP opened at $70.49 on Friday. The company has a current ratio of 2.59, a quick ratio of 1.47 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $38.02 billion, a PE ratio of -7,049.00, a PEG ratio of 2.10 and a beta of 1.48. Microchip Technology Incorporated has a 1-year low of $34.13 and a 1-year high of $96.98. The firm has a 50-day moving average price of $58.73 and a two-hundred day moving average price of $55.30.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its earnings results on Thursday, May 8th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. The company had revenue of $970.50 million for the quarter, compared to analyst estimates of $962.86 million. Microchip Technology had a negative net margin of 0.01% and a positive return on equity of 8.55%. The company's revenue for the quarter was down 26.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.57 EPS. As a group, equities analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 2.58%. The ex-dividend date was Thursday, May 22nd. Microchip Technology's payout ratio is -18,200.00%.

Analysts Set New Price Targets

Several research firms recently issued reports on MCHP. Evercore ISI upped 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. Needham & Company LLC reiterated a "buy" rating and set a $66.00 target price on shares of Microchip Technology in a research note on Friday, May 9th. Mizuho upped their target price on shares of Microchip Technology from $68.00 to $78.00 and gave the company an "outperform" rating in a research note on Thursday, June 12th. Stifel Nicolaus upped their target price on shares of Microchip Technology from $60.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, Rosenblatt Securities upped their target price on shares of Microchip Technology from $63.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Seven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $70.15.

Insider Buying and Selling

In other Microchip Technology news, Director Karlton D. Johnson sold 494 shares of Microchip Technology stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $60.69, for a total value of $29,980.86. Following the transaction, the director now owns 3,468 shares of the company's stock, valued at approximately $210,472.92. The trade was a 12.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO James Eric Bjornholt sold 2,015 shares of Microchip Technology stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $55.78, for a total transaction of $112,396.70. Following the completion of the transaction, the chief financial officer now directly owns 34,313 shares in the company, valued at approximately $1,913,979.14. The trade was a 5.55% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

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.

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