Microchip Technology Incorporated (NASDAQ:MCHP) Stake Lifted by Yousif Capital Management LLC

Yousif Capital Management LLC raised its stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 8.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,391 shares of the semiconductor company's stock after purchasing an additional 6,316 shares during the period. Yousif Capital Management LLC's holdings in Microchip Technology were worth $3,843,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. lifted its stake in Microchip Technology by 7.4% in the fourth quarter. Stratos Wealth Partners LTD. now owns 4,680 shares of the semiconductor company's stock valued at $268,000 after buying an additional 321 shares during the last quarter. Savant Capital LLC raised its position in Microchip Technology by 11.5% in the 4th quarter. Savant Capital LLC now owns 6,158 shares of the semiconductor company's stock valued at $353,000 after purchasing an additional 636 shares during the last quarter. Essex Financial Services Inc. raised its position in Microchip Technology by 19.9% in the 4th quarter. Essex Financial Services Inc. now owns 4,891 shares of the semiconductor company's stock valued at $280,000 after purchasing an additional 813 shares during the last quarter. Portfolio Design Labs LLC acquired a new stake in Microchip Technology during the 4th quarter worth $201,000. Finally, Van ECK Associates Corp increased its stake in Microchip Technology by 39.3% in the fourth quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company's stock valued at $636,184,000 after purchasing an additional 3,131,807 shares during the period. Institutional investors and hedge funds own 91.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MCHP shares. Wall Street Zen downgraded shares of Microchip Technology from a "hold" rating to a "sell" rating in a research note on Saturday, June 7th. Raymond James increased their price objective 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. Needham & Company LLC reissued a "buy" rating and issued a $66.00 target price on shares of Microchip Technology in a report on Friday, May 9th. Evercore ISI increased their price target on Microchip Technology from $69.00 to $83.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Rosenblatt Securities lifted their price objective on shares of Microchip Technology from $63.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, May 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Microchip Technology has an average rating of "Moderate Buy" and an average price target of $69.53.

Microchip Technology Stock Performance

MCHP stock traded down $2.20 during trading on Friday, hitting $65.73. 9,841,187 shares of the company's stock traded hands, compared to its average volume of 8,768,594. The stock has a market capitalization of $35.45 billion, a price-to-earnings ratio of 117.38 and a beta of 1.48. Microchip Technology Incorporated has a 52 week low of $34.13 and a 52 week high of $96.98. The stock has a fifty day moving average price of $52.17 and a two-hundred day moving average price of $55.01. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. The firm had revenue of $970.50 million for the quarter, compared to analyst estimates of $962.86 million. During the same quarter in the prior year, the business earned $0.57 earnings per share. Microchip Technology's quarterly revenue was down 26.8% on a year-over-year basis. As a group, equities analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd were issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 2.77%. The ex-dividend date was Thursday, May 22nd. Microchip Technology's dividend payout ratio (DPR) is -18,200.00%.

Insider Transactions at Microchip Technology

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

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.