Fort Washington Investment Advisors Inc. OH Increases Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Fort Washington Investment Advisors Inc. OH boosted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 4.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 617,675 shares of the semiconductor company's stock after purchasing an additional 24,628 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned about 0.11% of Microchip Technology worth $29,902,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. GPS Wealth Strategies Group LLC increased its holdings in shares of Microchip Technology by 106.5% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 1,939 shares of the semiconductor company's stock valued at $94,000 after acquiring an additional 1,000 shares during the period. Thompson Investment Management Inc. increased its holdings in shares of Microchip Technology by 9.9% in the 1st quarter. Thompson Investment Management Inc. now owns 91,016 shares of the semiconductor company's stock valued at $4,406,000 after acquiring an additional 8,175 shares during the period. Integrated Advisors Network LLC increased its holdings in shares of Microchip Technology by 8.9% in the 1st quarter. Integrated Advisors Network LLC now owns 9,119 shares of the semiconductor company's stock valued at $441,000 after acquiring an additional 746 shares during the period. Franklin Street Advisors Inc. NC increased its holdings in shares of Microchip Technology by 12.2% in the 1st quarter. Franklin Street Advisors Inc. NC now owns 8,072 shares of the semiconductor company's stock valued at $391,000 after acquiring an additional 880 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Microchip Technology by 75.0% in the 1st quarter. GAMMA Investing LLC now owns 9,922 shares of the semiconductor company's stock valued at $480,000 after acquiring an additional 4,252 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MCHP has been the topic of a number of analyst reports. Mizuho lifted their price target on Microchip Technology from $68.00 to $78.00 and gave the company an "outperform" rating in a report on Thursday. UBS Group lifted their price target on Microchip Technology from $60.00 to $65.00 and gave the company a "buy" rating in a report on Friday, May 30th. TD Cowen lifted their price target on Microchip Technology from $35.00 to $55.00 and gave the company a "hold" rating in a report on Friday, May 9th. Evercore ISI boosted their target price on Microchip Technology from $69.00 to $83.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Citigroup boosted their target price on Microchip Technology from $55.00 to $68.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Microchip Technology currently has an average rating of "Moderate Buy" and a consensus target price of $69.53.

Microchip Technology Stock Performance

MCHP traded down $2.20 on Friday, reaching $65.73. 9,841,187 shares of the stock were exchanged, compared to its average volume of 8,808,250. The company's 50-day moving average price is $52.78 and its 200 day moving average price is $54.90. Microchip Technology Incorporated has a fifty-two week low of $34.13 and a fifty-two week high of $96.98. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The firm has a market capitalization of $35.45 billion, a PE ratio of 117.38 and a beta of 1.48.

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

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd were issued a $0.455 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.77%. Microchip Technology's dividend payout ratio (DPR) is presently -18,200.00%.

Insider Activity

In other news, Director Karlton D. Johnson sold 494 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $60.69, for a total value of $29,980.86. Following the completion of the transaction, the director now owns 3,468 shares of the company's stock, valued at $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 available through the SEC website. Also, CFO James Eric Bjornholt sold 2,015 shares of the business's 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 now directly owns 34,313 shares of the company's stock, valued at approximately $1,913,979.14. This trade represents a 5.55% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.10% of the company's stock.

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.