Villere ST Denis J & Co. LLC Acquires 17,814 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Villere ST Denis J & Co. LLC lifted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 4.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 383,787 shares of the semiconductor company's stock after purchasing an additional 17,814 shares during the period. Villere ST Denis J & Co. LLC owned 0.07% of Microchip Technology worth $18,579,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. one8zero8 LLC purchased a new stake in shares of Microchip Technology during the fourth quarter worth about $384,000. Vanguard Group Inc. lifted its holdings in Microchip Technology by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 68,912,345 shares of the semiconductor company's stock worth $3,952,123,000 after buying an additional 569,699 shares during the period. Franklin Resources Inc. lifted its holdings in Microchip Technology by 90.0% in 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 period. Jones Financial Companies Lllp lifted its holdings in Microchip Technology by 15.7% in the fourth quarter. Jones Financial Companies Lllp now owns 16,418 shares of the semiconductor company's stock worth $942,000 after buying an additional 2,226 shares during the period. Finally, Potomac Fund Management Inc. ADV bought a new stake in shares of Microchip Technology during the fourth quarter valued at approximately $738,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Microchip Technology Stock Down 0.4%

NASDAQ MCHP traded down $0.29 during mid-day trading on Friday, reaching $70.49. The stock had a trading volume of 6,885,466 shares, compared to its average volume of 8,893,469. Microchip Technology Incorporated has a 1 year low of $34.13 and a 1 year high of $96.98. The stock has a market cap of $38.02 billion, a PE ratio of -7,049.00, a price-to-earnings-growth ratio of 2.11 and a beta of 1.48. The company has a fifty day moving average price of $58.73 and a 200 day moving average price of $55.34. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.59 and a quick ratio of 1.47.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $970.50 million during the quarter, compared to analyst estimates of $962.86 million. During the same period in the previous year, the business earned $0.57 EPS. The firm's revenue for the quarter was down 26.8% on a year-over-year basis. On average, research analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd were given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend was Thursday, May 22nd. Microchip Technology's dividend payout ratio (DPR) is presently -18,200.00%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MCHP. Needham & Company LLC restated a "buy" rating and set a $66.00 price target on shares of Microchip Technology in a research report on Friday, May 9th. Evercore ISI lifted their price target on Microchip Technology from $69.00 to $83.00 and gave the company an "outperform" rating in a research report on Thursday, June 12th. Citigroup lifted their price target on Microchip Technology from $55.00 to $68.00 and gave the company a "buy" rating in a research report on Monday, June 9th. TD Cowen lifted their price target on Microchip Technology from $35.00 to $55.00 and gave the company a "hold" rating in a research report on Friday, May 9th. Finally, Wall Street Zen upgraded shares of Microchip Technology from a "sell" rating to a "hold" rating in a report on Friday. Seven investment 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.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $70.15.

Microchip Technology 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.