Microchip Technology Incorporated (NASDAQ:MCHP) Shares Purchased by First Hawaiian Bank

First Hawaiian Bank increased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 23.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,909 shares of the semiconductor company's stock after purchasing an additional 7,856 shares during the quarter. First Hawaiian Bank's holdings in Microchip Technology were worth $1,980,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Mainstream Capital Management LLC acquired a new stake in Microchip Technology during the 4th quarter valued at approximately $26,000. Rakuten Securities Inc. lifted its position in Microchip Technology by 309.5% during the fourth quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 359 shares during the period. OFI Invest Asset Management acquired a new position in Microchip Technology during the fourth quarter valued at $29,000. Financial Life Planners acquired a new position in Microchip Technology during the fourth quarter valued at $32,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in Microchip Technology during the fourth quarter valued at $34,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Insider Buying and Selling at Microchip Technology

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

Analysts Set New Price Targets

MCHP has been the subject of several analyst reports. Evercore ISI boosted their price objective on Microchip Technology from $65.00 to $71.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. Rosenblatt Securities boosted their price target on Microchip Technology from $63.00 to $70.00 and gave the company a "buy" rating in a report on Friday. UBS Group boosted their price target on Microchip Technology from $60.00 to $65.00 and gave the company a "buy" rating in a report on Friday. TD Cowen boosted 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. Finally, Wall Street Zen cut shares of Microchip Technology from a "hold" rating to a "sell" rating in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $67.68.

Microchip Technology Price Performance

Shares of Microchip Technology stock traded down $0.89 during mid-day trading on Friday, reaching $57.22. 10,845,600 shares of the stock traded hands, compared to its average volume of 8,641,981. The business has a 50-day moving average of $48.55 and a 200 day moving average of $55.01. Microchip Technology Incorporated has a fifty-two week low of $34.13 and a fifty-two week high of $98.10. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $30.86 billion, a PE ratio of 102.18 and a beta of 1.42.

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 the consensus estimate of $0.10 by $0.01. The firm 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 firm's revenue was down 26.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.57 EPS. On average, analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd will be issued a $0.455 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 3.18%. Microchip Technology's payout ratio is -18,200.00%.

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.