Microchip Technology Incorporated (NASDAQ:MCHP) Stock Holdings Raised by Twelve Points Wealth Management LLC

Twelve Points Wealth Management LLC grew its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 20.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,349 shares of the semiconductor company's stock after purchasing an additional 3,793 shares during the quarter. Twelve Points Wealth Management LLC's holdings in Microchip Technology were worth $1,082,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Rakuten Securities Inc. grew its stake in Microchip Technology by 309.5% in the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company's stock worth $27,000 after acquiring an additional 359 shares during the period. OFI Invest Asset Management purchased a new stake in Microchip Technology in the 4th quarter worth approximately $29,000. Garde Capital Inc. purchased a new stake in Microchip Technology in the 1st quarter worth approximately $30,000. Millstone Evans Group LLC purchased a new stake in Microchip Technology in the 4th quarter worth approximately $34,000. Finally, Orion Capital Management LLC purchased a new stake in Microchip Technology in the 4th quarter worth approximately $41,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,015 shares of the business's stock in a transaction 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 transaction, the chief financial officer owned 34,313 shares in the company, valued at $1,913,979.14. The trade was a 5.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Karlton D. Johnson sold 494 shares of the business's 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 completion of the transaction, the director owned 3,468 shares in the company, valued at $210,472.92. This represents a 12.47% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.10% of the company's stock.

Microchip Technology Stock Up 0.2%

Microchip Technology stock traded up $0.12 during trading on Wednesday, reaching $74.68. 6,484,230 shares of the company's stock were exchanged, compared to its average volume of 8,923,080. The company's 50-day moving average is $62.67 and its two-hundred day moving average is $55.99. 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 $96.98. The firm has a market cap of $40.28 billion, a price-to-earnings ratio of -7,468.00, a PEG ratio of 2.13 and a beta of 1.52.

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, topping 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 analysts' expectations of $962.86 million. During the same period in the prior year, the company earned $0.57 EPS. The firm's revenue was down 26.8% on a year-over-year basis. On average, analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd were issued a $0.455 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 2.44%. Microchip Technology's dividend payout ratio is currently -18,200.00%.

Analysts Set New Price Targets

Several research firms have commented on MCHP. Mizuho lifted their target price on shares of Microchip Technology from $78.00 to $85.00 and gave the stock an "outperform" rating in a research note on Tuesday. Wall Street Zen raised shares of Microchip Technology from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Rosenblatt Securities lifted their price target on shares of Microchip Technology from $63.00 to $70.00 and gave the company a "buy" rating in a report on Friday, May 30th. UBS Group lifted their price target on shares of Microchip Technology from $65.00 to $85.00 and gave the company a "buy" rating in a report on Monday. Finally, B. Riley lifted their price target on shares of Microchip Technology from $60.00 to $75.00 and gave the company a "buy" rating in a report on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Microchip Technology presently has an average rating of "Moderate Buy" and a consensus target price of $73.85.

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.