LM Advisors LLC Acquires Shares of 11,351 Microchip Technology Incorporated (NASDAQ:MCHP)

LM Advisors LLC bought a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 11,351 shares of the semiconductor company's stock, valued at approximately $651,000.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of 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 during the period. Van ECK Associates Corp raised its position in Microchip Technology by 39.3% in the fourth quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company's stock worth $636,184,000 after purchasing an additional 3,131,807 shares in the last quarter. Invesco Ltd. lifted its position in shares of 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 during the period. Norges Bank bought a new stake in shares of Microchip Technology in the 4th quarter worth about $452,627,000. Finally, FIL Ltd increased its holdings in shares of Microchip Technology by 9.0% during the fourth quarter. FIL Ltd now owns 7,877,482 shares of the semiconductor company's stock worth $451,774,000 after buying an additional 653,705 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Insider Activity

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

Microchip Technology Trading Up 1.1%

Shares of MCHP traded up $0.65 during trading hours on Thursday, hitting $58.11. 6,573,464 shares of the stock were exchanged, compared to its average volume of 8,617,714. The firm has a market capitalization of $31.30 billion, a P/E ratio of 103.77 and a beta of 1.42. The business has a 50-day moving average of $48.37 and a 200-day moving average of $55.16. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. Microchip Technology Incorporated has a fifty-two week low of $34.13 and a fifty-two week high of $98.10.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. The business had revenue of $970.50 million during the quarter, compared to the consensus estimate of $962.86 million. Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. The company's quarterly revenue was down 26.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 EPS. On average, research analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd will be given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Thursday, May 22nd. Microchip Technology's dividend payout ratio is currently -18,200.00%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MCHP shares. UBS Group boosted their price target on shares of Microchip Technology from $55.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Bank of America upgraded Microchip Technology from an "underperform" rating to a "neutral" rating and set a $56.00 price objective for the company in a report on Friday, May 9th. Citigroup raised their price objective on Microchip Technology from $50.00 to $55.00 and gave the company a "buy" rating in a report on Friday, May 9th. Evercore ISI upped their price target on shares of Microchip Technology from $65.00 to $71.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 4th. Finally, Truist Financial increased their price target on Microchip Technology from $43.00 to $52.00 and gave the company a "hold" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $67.42.

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.