LWS Wealth Advisors Inc. Makes New Investment in Microchip Technology Incorporated (NASDAQ:MCHP)

LWS Wealth Advisors Inc. purchased a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,875 shares of the semiconductor company's stock, valued at approximately $710,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bleakley Financial Group LLC grew its holdings in shares of Microchip Technology by 1.3% during the fourth quarter. Bleakley Financial Group LLC now owns 9,415 shares of the semiconductor company's stock worth $849,000 after purchasing an additional 119 shares during the last quarter. RFG Advisory LLC boosted its holdings in Microchip Technology by 3.2% in the fourth quarter. RFG Advisory LLC now owns 3,910 shares of the semiconductor company's stock valued at $353,000 after acquiring an additional 123 shares during the last quarter. Twelve Points Wealth Management LLC boosted its holdings in Microchip Technology by 1.0% in the fourth quarter. Twelve Points Wealth Management LLC now owns 12,229 shares of the semiconductor company's stock valued at $1,103,000 after acquiring an additional 125 shares during the last quarter. Merit Financial Group LLC boosted its holdings in Microchip Technology by 1.9% in the third quarter. Merit Financial Group LLC now owns 7,096 shares of the semiconductor company's stock valued at $554,000 after acquiring an additional 134 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC boosted its holdings in Microchip Technology by 3.5% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 4,458 shares of the semiconductor company's stock valued at $348,000 after acquiring an additional 150 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Insider Activity at Microchip Technology

In related news, VP Stephen V. Drehobl sold 10,000 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $90.88, for a total value of $908,800.00. Following the completion of the sale, the vice president now directly owns 82,203 shares of the company's stock, valued at approximately $7,470,608.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Stephen V. Drehobl sold 10,000 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $90.88, for a total value of $908,800.00. Following the completion of the sale, the vice president now directly owns 82,203 shares of the company's stock, valued at approximately $7,470,608.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Stephen V. Drehobl sold 7,830 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $95.06, for a total value of $744,319.80. Following the completion of the sale, the vice president now directly owns 79,509 shares of the company's stock, valued at $7,558,125.54. The disclosure for this sale can be found here. In the last three months, insiders sold 19,800 shares of company stock valued at $1,818,403. 2.07% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MCHP has been the topic of several analyst reports. KeyCorp upped their target price on Microchip Technology from $90.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, May 7th. Stifel Nicolaus upped their target price on Microchip Technology from $98.00 to $102.00 and gave the company a "buy" rating in a report on Wednesday, May 1st. Jefferies Financial Group initiated coverage on Microchip Technology in a report on Monday, May 13th. They issued a "buy" rating and a $115.00 target price on the stock. Piper Sandler reiterated a "neutral" rating and issued a $90.00 target price (up from $80.00) on shares of Microchip Technology in a report on Tuesday, May 7th. Finally, UBS Group increased their price target on Microchip Technology from $95.00 to $103.00 and gave the stock a "buy" rating in a report on Tuesday, May 7th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $99.39.

Microchip Technology Stock Down 1.4 %

Shares of NASDAQ:MCHP traded down $1.35 during trading on Thursday, reaching $98.14. 7,327,921 shares of the stock were exchanged, compared to its average volume of 5,559,893. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.20 and a quick ratio of 0.67. Microchip Technology Incorporated has a 1-year low of $68.75 and a 1-year high of $100.30. The stock has a fifty day moving average of $90.00 and a two-hundred day moving average of $87.00. The firm has a market cap of $53.03 billion, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 3.34 and a beta of 1.60.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its earnings results on Monday, May 6th. The semiconductor company reported $0.57 earnings per share for the quarter, hitting analysts' consensus estimates of $0.57. Microchip Technology had a return on equity of 36.78% and a net margin of 24.98%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the prior year, the firm earned $1.56 earnings per share. Microchip Technology's revenue for the quarter was down 40.6% on a year-over-year basis. Research analysts anticipate that Microchip Technology Incorporated will post 2.38 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd will be given a $0.452 dividend. This is a positive change from Microchip Technology's previous quarterly dividend of $0.45. This represents a $1.81 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Tuesday, May 21st. Microchip Technology's dividend payout ratio is presently 52.16%.

Microchip Technology Company Profile

Microchip Technology Incorporated develops, manufactures, and sells 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 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.