Microchip Technology Incorporated (NASDAQ:MCHP) Shares Bought by Godsey & Gibb Inc.

Godsey & Gibb Inc. increased its stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 6.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 274,906 shares of the semiconductor company's stock after purchasing an additional 17,572 shares during the period. Godsey & Gibb Inc. owned 0.05% of Microchip Technology worth $13,308,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake 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 valued at $3,952,123,000 after acquiring an additional 569,699 shares during the period. Van ECK Associates Corp lifted its stake in Microchip Technology by 39.3% during the 4th quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company's stock valued at $636,184,000 after acquiring an additional 3,131,807 shares during the period. Invesco Ltd. lifted its stake in Microchip Technology by 9.5% during the 4th quarter. Invesco Ltd. now owns 10,247,908 shares of the semiconductor company's stock valued at $587,718,000 after acquiring an additional 890,819 shares during the period. Norges Bank acquired a new stake in Microchip Technology during the 4th quarter valued at approximately $452,627,000. Finally, FIL Ltd lifted its stake in Microchip Technology by 9.0% during the 4th quarter. FIL Ltd now owns 7,877,482 shares of the semiconductor company's stock valued at $451,774,000 after acquiring an additional 653,705 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 2,015 shares of the company'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 sale, the chief financial officer now owns 34,313 shares of the company's stock, valued at approximately $1,913,979.14. This represents a 5.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Karlton D. Johnson sold 494 shares of the company's 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 directly owns 3,468 shares of the company's stock, valued at $210,472.92. This represents a 12.47% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

Microchip Technology Price Performance

Shares of NASDAQ MCHP opened at $65.25 on Friday. The firm has a market cap of $35.20 billion, a PE ratio of 116.52 and a beta of 1.48. The firm has a fifty day moving average of $49.94 and a 200 day moving average of $54.96. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $96.98.

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 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 company had revenue of $970.50 million during the quarter, compared to analyst estimates of $962.86 million. During the same quarter in the previous year, the firm earned $0.57 EPS. The firm's revenue was down 26.8% compared to the same quarter last year. As a group, research analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

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

Wall Street Analysts Forecast Growth

MCHP has been the subject of several research reports. KeyCorp decreased their price objective on shares of Microchip Technology from $70.00 to $60.00 and set an "overweight" rating for the company in a research note on Friday, February 7th. Wall Street Zen cut shares of Microchip Technology from a "hold" rating to a "sell" rating in a research note on Saturday. B. Riley lifted their price objective on shares of Microchip Technology from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Rosenblatt Securities boosted their target price on shares of Microchip Technology from $63.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Finally, Citigroup boosted their target price on shares of Microchip Technology from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, five have issued 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.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.