Microchip Technology Incorporated (NASDAQ:MCHP) Shares Purchased by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group Inc. significantly increased its stake in Microchip Technology by 358.9% in the 1st quarter, owning 228,469 shares valued at approximately $11.06 million.
• Various institutional investors have also raised their positions in Microchip Technology, with some including First Citizens Bank & Trust Co. increasing their stake by 468.2%.
• The company recently declared a quarterly dividend of $0.455 per share, representing an annualized yield of 2.7%.

Jefferies Financial Group Inc. grew its stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 358.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 228,469 shares of the semiconductor company's stock after purchasing an additional 178,685 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Microchip Technology were worth $11,060,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Garde Capital Inc. purchased a new position in Microchip Technology during the first quarter worth about $30,000. Orion Capital Management LLC purchased a new stake in shares of Microchip Technology in the 4th quarter worth approximately $41,000. Byrne Asset Management LLC purchased a new stake in shares of Microchip Technology in the 1st quarter worth approximately $41,000. GW&K Investment Management LLC boosted its stake in Microchip Technology by 161.0% during the 1st quarter. GW&K Investment Management LLC now owns 937 shares of the semiconductor company's stock valued at $45,000 after purchasing an additional 578 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd boosted its stake in Microchip Technology by 399.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 809 shares of the semiconductor company's stock valued at $46,000 after purchasing an additional 647 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Stock Down 0.3%

Microchip Technology stock traded down $0.22 during mid-day trading on Tuesday, hitting $66.37. The company had a trading volume of 4,425,022 shares, compared to its average volume of 10,459,393. The company has a market capitalization of $35.82 billion, a PE ratio of -6,638.80, a price-to-earnings-growth ratio of 1.92 and a beta of 1.55. The company has a current ratio of 2.59, a quick ratio of 1.47 and a debt-to-equity ratio of 0.80. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $82.87. The stock's 50 day moving average price is $69.05 and its two-hundred day moving average price is $57.90.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. Microchip Technology had a positive return on equity of 8.55% and a negative net margin of 0.01%. 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 prior year, the business earned $0.57 earnings per share. Microchip Technology's revenue for the quarter was down 26.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 2.7%. 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

Several equities analysts have recently commented on MCHP shares. Wall Street Zen upgraded Microchip Technology from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Morgan Stanley upped their price target on Microchip Technology from $39.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Rosenblatt Securities upped their price target on shares of Microchip Technology from $63.00 to $70.00 and gave the company a "buy" rating in a report on Friday, May 30th. KeyCorp upped their price target on shares of Microchip Technology from $70.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Finally, Cantor Fitzgerald initiated coverage on shares of Microchip Technology in a report on Wednesday, June 18th. They set a "neutral" rating and a $70.00 price target for the company. Six 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $74.42.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, 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 completion of the sale, the director directly owned 3,468 shares in the company, valued at approximately $210,472.92. The trade was a 12.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James Eric Bjornholt sold 2,015 shares of the company'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 value of $112,396.70. Following the completion of the transaction, the chief financial officer owned 34,313 shares in the company, valued at $1,913,979.14. This represents a 5.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.94% of the company's stock.

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.