Microchip Technology Incorporated (NASDAQ:MCHP) Shares Acquired by Vest Financial LLC

Vest Financial LLC boosted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 66.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,090 shares of the semiconductor company's stock after acquiring an additional 8,009 shares during the period. Vest Financial LLC's holdings in Microchip Technology were worth $973,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Consolidated Planning Corp bought a new stake in shares of Microchip Technology during the fourth quarter valued at approximately $308,000. one8zero8 LLC bought a new position in shares of Microchip Technology in the fourth quarter valued at $384,000. Truist Financial Corp grew its position in Microchip Technology by 5.8% during the 4th quarter. Truist Financial Corp now owns 959,439 shares of the semiconductor company's stock worth $55,024,000 after purchasing an additional 52,222 shares in the last quarter. Vanguard Group Inc. grew 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 valued at $3,952,123,000 after acquiring an additional 569,699 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Microchip Technology by 90.0% during the 4th quarter. Franklin Resources Inc. now owns 6,360,805 shares of the semiconductor company's stock valued at $364,792,000 after acquiring an additional 3,013,162 shares in the last quarter. Institutional investors own 91.51% of the company's stock.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $65.25 on Monday. The company has a market capitalization of $35.20 billion, a price-to-earnings ratio of 116.52 and a beta of 1.48. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. The company has a 50-day simple moving average of $49.94 and a 200 day simple moving average of $54.81. 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 announced its earnings results on Thursday, May 8th. The semiconductor company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. The business had revenue of $970.50 million during the quarter, compared to the consensus estimate of $962.86 million. During the same quarter in the previous year, the firm posted $0.57 EPS. Microchip Technology's revenue was down 26.8% compared to the same quarter last year. On average, sell-side analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd were paid a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend was Thursday, May 22nd. Microchip Technology's dividend payout ratio (DPR) is -18,200.00%.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,015 shares of the business's 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 sale, the chief financial officer now directly owns 34,313 shares of the company's stock, valued at $1,913,979.14. The trade was a 5.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Karlton D. Johnson sold 494 shares of the business'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 sale, the director now directly owns 3,468 shares in the company, valued at $210,472.92. The trade was a 12.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of Microchip Technology from $39.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Needham & Company LLC reiterated a "buy" rating and set a $66.00 target price on shares of Microchip Technology in a research report on Friday, May 9th. Stifel Nicolaus increased their price objective on shares of Microchip Technology from $60.00 to $70.00 and gave the company a "buy" rating in a report on Friday, May 9th. Raymond James increased their target price on shares of Microchip Technology from $60.00 to $65.00 and gave the stock a "strong-buy" rating in a report on Friday, May 9th. Finally, Wall Street Zen downgraded shares of Microchip Technology from a "hold" rating to a "sell" rating in a research report on Saturday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Microchip Technology presently has an average rating of "Moderate Buy" and a consensus target price of $67.68.

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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