NBC Securities Inc. Purchases 5,708 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

NBC Securities Inc. lifted its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 114,160.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,713 shares of the semiconductor company's stock after purchasing an additional 5,708 shares during the quarter. NBC Securities Inc.'s holdings in Microchip Technology were worth $276,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in MCHP. Mainstream Capital Management LLC bought a new stake in Microchip Technology in the 4th quarter worth approximately $26,000. Rakuten Securities Inc. increased its position in Microchip Technology by 309.5% in the fourth quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company's stock worth $27,000 after purchasing an additional 359 shares during the last quarter. OFI Invest Asset Management bought a new stake in Microchip Technology in the fourth quarter worth $29,000. Kohmann Bosshard Financial Services LLC bought a new stake in Microchip Technology in the fourth quarter worth $34,000. Finally, Millstone Evans Group LLC bought a new stake in Microchip Technology in the fourth quarter worth $34,000. 91.51% of the stock is owned by institutional investors.

Microchip Technology Trading Up 1.4%

NASDAQ MCHP opened at $65.25 on Friday. The company's 50-day moving average price is $49.94 and its 200-day moving average price is $54.89. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. The stock has a market cap of $35.20 billion, a PE ratio of 116.52 and a beta of 1.48. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $96.98.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. The firm had revenue of $970.50 million for the quarter, compared to analysts' expectations of $962.86 million. Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. The business's revenue for the quarter was down 26.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.57 earnings per share. Equities research analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current 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 paid a $0.455 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $1.82 annualized dividend and a yield of 2.79%. Microchip Technology's dividend payout ratio (DPR) is currently -18,200.00%.

Insider Buying and Selling

In other news, Director Karlton D. Johnson sold 494 shares of the stock in a transaction 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 transaction, the director now owns 3,468 shares of the company's stock, valued at approximately $210,472.92. This represents a 12.47% decrease in their position. The transaction was disclosed in a filing 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 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 transaction, the chief financial officer now owns 34,313 shares in the company, valued at approximately $1,913,979.14. The trade was a 5.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MCHP. Rosenblatt Securities boosted their target price on shares of Microchip Technology from $63.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Wall Street Zen cut Microchip Technology from a "hold" rating to a "sell" rating in a research note on Saturday. Truist Financial boosted their price objective on Microchip Technology from $43.00 to $52.00 and gave the stock a "hold" rating in a research note on Friday, May 9th. Mizuho boosted their price objective on Microchip Technology from $58.00 to $68.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 4th. Finally, Needham & Company LLC reissued a "buy" rating and set a $66.00 target price on shares of Microchip Technology in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $67.68.

About Microchip Technology

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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