Motco Grows Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Key Points

• Motco increased its stake in Microchip Technology by 5.3% during the 1st quarter, acquiring an additional 9,485 shares to reach a total of 187,693 shares valued at over $9 million.
• Several other investors, including Garde Capital Inc. and Orion Capital Management, recently acquired new stakes in Microchip Technology, contributing to institutional investors owning 91.51% of the stock.
• Microchip Technology announced a quarterly dividend of $0.455 per share with a subsequent annual yield of 2.63%, despite a significant dividend payout ratio of -18,200%.

Motco grew its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 187,693 shares of the semiconductor company's stock after purchasing an additional 9,485 shares during the period. Motco's holdings in Microchip Technology were worth $9,086,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Federated Hermes Inc. grew its stake in shares of Microchip Technology by 0.5% in the fourth quarter. Federated Hermes Inc. now owns 39,298 shares of the semiconductor company's stock worth $2,254,000 after acquiring an additional 209 shares during the last quarter. Northwest Bank & Trust Co grew its position in shares of Microchip Technology by 3.0% in the 4th quarter. Northwest Bank & Trust Co now owns 7,392 shares of the semiconductor company's stock valued at $424,000 after purchasing an additional 217 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in Microchip Technology by 0.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 46,235 shares of the semiconductor company's stock valued at $2,238,000 after acquiring an additional 230 shares in the last quarter. Greenleaf Trust raised its stake in shares of Microchip Technology by 1.0% during the 1st quarter. Greenleaf Trust now owns 24,933 shares of the semiconductor company's stock worth $1,207,000 after purchasing an additional 242 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC raised its stake in Microchip Technology by 3.4% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 8,360 shares of the semiconductor company's stock valued at $405,000 after acquiring an additional 276 shares during the period. Institutional investors own 91.51% of the company's stock.

Insiders Place Their Bets

In related news, Director Karlton D. Johnson sold 494 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $60.69, for a total value of $29,980.86. Following the completion of the transaction, the director directly owned 3,468 shares of the company's stock, valued at approximately $210,472.92. This represents a 12.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James Eric Bjornholt sold 2,015 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $55.78, for a total transaction of $112,396.70. Following the sale, the chief financial officer directly owned 34,313 shares in the company, valued at $1,913,979.14. This trade represents a 5.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by corporate insiders.

Microchip Technology Stock Up 0.2%

Shares of MCHP traded up $0.16 during trading hours on Wednesday, hitting $70.84. 2,334,145 shares of the company were exchanged, compared to its average volume of 10,444,476. The company has a market cap of $38.23 billion, a PE ratio of -7,096.60, a PEG ratio of 2.04 and a beta of 1.52. The firm's 50 day moving average is $68.23 and its 200-day moving average is $57.59. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.47 and a current ratio of 2.59. Microchip Technology Incorporated has a 52 week low of $34.13 and a 52 week high of $89.59.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. Microchip Technology had a negative net margin of 0.01% and a positive return on equity of 8.55%. The firm had revenue of $970.50 million during the quarter, compared to analysts' expectations of $962.86 million. During the same quarter in the previous year, the company posted $0.57 EPS. Microchip Technology's revenue was down 26.8% on a year-over-year basis. On average, equities research analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend was Thursday, May 22nd. Microchip Technology's payout ratio is presently -18,200.00%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MCHP. Stifel Nicolaus increased their target price on Microchip Technology from $70.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Rosenblatt Securities raised their price objective on Microchip Technology from $63.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Needham & Company LLC reaffirmed a "buy" rating and set a $66.00 price objective on shares of Microchip Technology in a report on Friday, May 9th. KeyCorp boosted their price objective on 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 assumed coverage on Microchip Technology in a report on Wednesday, June 18th. They set a "neutral" rating and a $70.00 price objective on the stock. Six research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.70.

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.