Trilogy Capital Inc. Boosts Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Key Points

• Trilogy Capital Inc. increased its stake in Microchip Technology by 47.2%, owning 51,847 shares valued at $2.51 million as of the latest quarter.
• Microchip Technology reported earnings of $0.11 per share, exceeding expectations, although revenue was down 26.8% from the previous year.
• The company has a dividend yield of 2.68% after declaring a quarterly dividend of $0.455, with a significant negative dividend payout ratio.

Trilogy Capital Inc. raised its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 47.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,847 shares of the semiconductor company's stock after purchasing an additional 16,628 shares during the period. Trilogy Capital Inc.'s holdings in Microchip Technology were worth $2,510,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MCHP. Invesco Ltd. grew its stake in shares of Microchip Technology by 9.5% during the fourth quarter. Invesco Ltd. now owns 10,247,908 shares of the semiconductor company's stock worth $587,718,000 after buying an additional 890,819 shares during the last quarter. Norges Bank bought a new stake in shares of Microchip Technology during the fourth quarter worth $452,627,000. FIL Ltd grew its stake in shares of Microchip Technology by 9.0% during the fourth quarter. FIL Ltd now owns 7,877,482 shares of the semiconductor company's stock worth $451,774,000 after buying an additional 653,705 shares during the last quarter. Northern Trust Corp grew its stake in shares of Microchip Technology by 4.7% during the fourth quarter. Northern Trust Corp now owns 6,958,502 shares of the semiconductor company's stock worth $399,070,000 after buying an additional 311,796 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Microchip Technology by 90.0% during the fourth quarter. Franklin Resources Inc. now owns 6,360,805 shares of the semiconductor company's stock worth $364,792,000 after buying an additional 3,013,162 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MCHP has been the topic of a number of research reports. TD Cowen boosted their target price on shares of Microchip Technology from $35.00 to $55.00 and gave the stock a "hold" rating in a research note on Friday, May 9th. Raymond James Financial boosted their price objective on shares of Microchip Technology from $60.00 to $65.00 and gave the stock a "strong-buy" rating in a research note on Friday, May 9th. The Goldman Sachs Group assumed coverage on shares of Microchip Technology in a research note on Thursday, July 10th. They issued a "buy" rating and a $88.00 price objective on the stock. Evercore ISI boosted their price objective on shares of Microchip Technology from $69.00 to $83.00 and gave the stock an "outperform" rating in a research note on Thursday, June 12th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $66.00 price objective on shares of Microchip Technology in a research note on Friday, May 9th. Six research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $75.70.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 2,015 shares of the firm'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 directly owned 34,313 shares of the company's stock, valued at approximately $1,913,979.14. This trade represents a 5.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Karlton D. Johnson sold 494 shares of the firm'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 transaction, the director directly owned 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 disclosure for this sale can be found here. 1.94% of the stock is currently owned by company insiders.

Microchip Technology Stock Performance

Shares of MCHP stock traded up $1.40 during trading on Friday, hitting $69.21. The company's stock had a trading volume of 8,352,945 shares, compared to its average volume of 7,450,901. Microchip Technology Incorporated has a 52 week low of $34.13 and a 52 week high of $89.59. The business has a fifty day moving average of $67.83 and a 200-day moving average of $57.38. The company has a market cap of $37.35 billion, a PE ratio of -6,921.00, a P/E/G ratio of 1.96 and a beta of 1.52. 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 (NASDAQ:MCHP - Get Free Report) last released its earnings results on Thursday, May 8th. The semiconductor company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $962.86 million. During the same period in the prior year, the firm earned $0.57 EPS. The company's revenue was down 26.8% compared to the same quarter last year. As a group, research analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The firm 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 annualized dividend and a yield of 2.63%. The ex-dividend date was Thursday, May 22nd. Microchip Technology's dividend payout ratio (DPR) is presently -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.