Twelve Points Wealth Management LLC Grows Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Twelve Points Wealth Management LLC increased its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 20.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 22,349 shares of the semiconductor company's stock after acquiring an additional 3,793 shares during the quarter. Twelve Points Wealth Management LLC's holdings in Microchip Technology were worth $1,082,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Rakuten Securities Inc. boosted its position in shares of Microchip Technology by 309.5% during the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company's stock valued at $27,000 after acquiring an additional 359 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of Microchip Technology during the 4th quarter valued at about $29,000. Millstone Evans Group LLC bought a new stake in shares of Microchip Technology during the 4th quarter valued at about $34,000. Garde Capital Inc. bought a new stake in shares of Microchip Technology during the 1st quarter valued at about $30,000. Finally, Orion Capital Management LLC bought a new stake in shares of Microchip Technology during the 4th quarter valued at about $41,000. Hedge funds and other institutional investors 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 company's stock in a transaction dated 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 directly owned 3,468 shares of the company's stock, valued at $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 available through the SEC website. Also, CFO James Eric Bjornholt sold 2,015 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $55.78, for a total value of $112,396.70. Following the sale, the chief financial officer directly owned 34,313 shares of the company's stock, valued at $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. Corporate insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. B. Riley lifted their price target on Microchip Technology from $60.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Citigroup boosted their target price on Microchip Technology from $68.00 to $90.00 and gave the stock a "buy" rating in a research report on Monday. Stifel Nicolaus boosted their target price on Microchip Technology from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. TD Cowen boosted their target price on Microchip Technology from $35.00 to $55.00 and gave the stock a "hold" rating in a research report on Friday, May 9th. Finally, Raymond James Financial boosted their target price on Microchip Technology from $60.00 to $65.00 and gave the stock a "strong-buy" rating in a research report on Friday, May 9th. Six research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $75.10.

Microchip Technology Stock Performance

MCHP stock traded up $1.39 during trading on Thursday, hitting $76.07. 3,049,630 shares of the company traded hands, compared to its average volume of 10,721,195. The stock's 50-day simple moving average is $63.24 and its 200 day simple moving average is $56.12. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.59 and a quick ratio of 1.47. The company has a market cap of $41.05 billion, a PE ratio of -7,607.90, a P/E/G ratio of 2.22 and a beta of 1.52. Microchip Technology Incorporated has a 1 year low of $34.13 and a 1 year high of $96.98.

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

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd were paid a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 2.39%. 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.