Concurrent Investment Advisors LLC Has $3.35 Million Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Concurrent Investment Advisors LLC boosted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 5.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 69,275 shares of the semiconductor company's stock after buying an additional 3,644 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Microchip Technology were worth $3,354,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Microchip Technology by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 68,912,345 shares of the semiconductor company's stock worth $3,952,123,000 after buying an additional 569,699 shares in the last quarter. Invesco Ltd. lifted its holdings in Microchip Technology by 9.5% during the 4th quarter. Invesco Ltd. now owns 10,247,908 shares of the semiconductor company's stock worth $587,718,000 after buying an additional 890,819 shares in the last quarter. Norges Bank acquired a new position in shares of Microchip Technology in the 4th quarter valued at $452,627,000. FIL Ltd lifted its stake in shares of Microchip Technology by 9.0% in the 4th quarter. FIL Ltd now owns 7,877,482 shares of the semiconductor company's stock valued at $451,774,000 after purchasing an additional 653,705 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Microchip Technology by 4.7% in the 4th quarter. Northern Trust Corp now owns 6,958,502 shares of the semiconductor company's stock valued at $399,070,000 after purchasing an additional 311,796 shares during the period. Institutional investors and hedge funds own 91.51% of the company's stock.

Insider Transactions at Microchip Technology

In other news, 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 directly owned 34,313 shares in the company, valued at $1,913,979.14. This represents a 5.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Karlton D. Johnson sold 494 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $60.69, for a total transaction of $29,980.86. Following the transaction, the director owned 3,468 shares of the company's stock, valued at approximately $210,472.92. This represents a 12.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.

Microchip Technology Stock Up 0.3%

MCHP stock traded up $0.22 during trading hours on Wednesday, reaching $74.78. 3,315,667 shares of the stock were exchanged, compared to its average volume of 8,910,878. The firm's 50-day moving average is $62.67 and its 200-day moving average is $55.99. The company has a market cap of $40.33 billion, a price-to-earnings ratio of -7,468.50, a PEG ratio of 2.13 and a beta of 1.52. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.59 and a quick ratio of 1.47. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $96.98.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its earnings results 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. The firm 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%. The company's revenue was down 26.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 EPS. On average, equities research analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd were issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date was Thursday, May 22nd. Microchip Technology's dividend payout ratio (DPR) is presently -18,200.00%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Stifel Nicolaus increased their price target on Microchip Technology from $60.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Rosenblatt Securities increased their price target on Microchip Technology from $63.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Cantor Fitzgerald assumed coverage on Microchip Technology in a research note on Wednesday, June 18th. They issued a "neutral" rating and a $70.00 price target on the stock. Needham & Company LLC reissued a "buy" rating and issued a $66.00 price target on shares of Microchip Technology in a research note on Friday, May 9th. Finally, Truist Financial increased their price target on Microchip Technology from $52.00 to $64.00 and gave the company a "hold" rating in a research note on Wednesday, June 18th. Seven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $73.85.

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.