Citizens & Northern Corp Has $736,000 Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Citizens & Northern Corp increased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 51.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,199 shares of the semiconductor company's stock after acquiring an additional 5,172 shares during the quarter. Citizens & Northern Corp's holdings in Microchip Technology were worth $736,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. boosted its holdings in shares of 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 purchasing an additional 209 shares during the period. Northwest Bank & Trust Co lifted its position in Microchip Technology by 3.0% in the 4th quarter. Northwest Bank & Trust Co now owns 7,392 shares of the semiconductor company's stock worth $424,000 after buying an additional 217 shares in the last quarter. State of Wyoming lifted its position in Microchip Technology by 27.3% in the 4th quarter. State of Wyoming now owns 1,300 shares of the semiconductor company's stock worth $75,000 after buying an additional 279 shares in the last quarter. CreativeOne Wealth LLC boosted its stake in shares of Microchip Technology by 1.0% during the 4th quarter. CreativeOne Wealth LLC now owns 28,842 shares of the semiconductor company's stock valued at $1,654,000 after buying an additional 283 shares during the period. Finally, B. Riley Wealth Advisors Inc. grew its holdings in shares of Microchip Technology by 4.7% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 6,859 shares of the semiconductor company's stock valued at $393,000 after acquiring an additional 305 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Microchip Technology Stock Up 0.5%

NASDAQ MCHP opened at $68.02 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.47 and a current ratio of 2.59. The stock has a market capitalization of $36.69 billion, a P/E ratio of -6,802.00, a price-to-earnings-growth ratio of 2.02 and a beta of 1.48. The stock has a fifty day moving average of $54.94 and a 200-day moving average of $54.98. Microchip Technology Incorporated has a 52 week low of $34.13 and a 52 week high of $96.98.

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. The company had revenue of $970.50 million during the quarter, compared to analysts' expectations of $962.86 million. Microchip Technology had a positive return on equity of 8.55% and a negative net margin of 0.01%. Microchip Technology's revenue for the quarter was down 26.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 earnings per share. On average, equities research analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd were given a $0.455 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.68%. Microchip Technology's payout ratio is -18,200.00%.

Insiders Place Their Bets

In related news, Director Karlton D. Johnson sold 494 shares of Microchip Technology stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $60.69, for a total transaction of $29,980.86. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO James Eric Bjornholt sold 2,015 shares of the stock in a transaction dated 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. This represents a 5.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. B. Riley increased their price objective on Microchip Technology from $60.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Cantor Fitzgerald initiated coverage on Microchip Technology in a report on Wednesday. They issued a "neutral" rating and a $70.00 price objective on the stock. Stifel Nicolaus raised their price objective on shares of Microchip Technology from $60.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Mizuho boosted their target price on shares of Microchip Technology from $68.00 to $78.00 and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Finally, Evercore ISI lifted their target price 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Microchip Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.15.

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.

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