Free Trial

RFG Advisory LLC Has $1.15 Million Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Microchip Technology logo with Computer and Technology background

RFG Advisory LLC lifted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 228.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,841 shares of the semiconductor company's stock after buying an additional 8,931 shares during the quarter. RFG Advisory LLC's holdings in Microchip Technology were worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in MCHP. Bleakley Financial Group LLC boosted its holdings in Microchip Technology by 1.3% in 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 period. 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 worth $1,103,000 after purchasing an additional 125 shares during the period. FFT Wealth Management LLC boosted its holdings in Microchip Technology by 4.4% in the fourth quarter. FFT Wealth Management LLC now owns 3,730 shares of the semiconductor company's stock worth $336,000 after purchasing an additional 158 shares during the period. Parkside Financial Bank & Trust boosted its holdings in Microchip Technology by 9.7% in the third quarter. Parkside Financial Bank & Trust now owns 1,824 shares of the semiconductor company's stock worth $142,000 after purchasing an additional 162 shares during the period. Finally, Carl P. Sherr & Co. LLC boosted its holdings in Microchip Technology by 1.4% in the fourth quarter. Carl P. Sherr & Co. LLC now owns 11,570 shares of the semiconductor company's stock worth $1,043,000 after purchasing an additional 165 shares during the period. Institutional investors and hedge funds own 91.51% of the company's stock.


Analyst Ratings Changes

MCHP has been the subject of a number of research reports. Truist Financial lifted their price objective on shares of Microchip Technology from $93.00 to $96.00 and gave the stock a "buy" rating in a report on Tuesday, May 7th. Piper Sandler reiterated a "neutral" rating and issued a $90.00 target price (up from $80.00) on shares of Microchip Technology in a research note on Tuesday, May 7th. Susquehanna raised their target price on Microchip Technology from $100.00 to $105.00 and gave the company a "positive" rating in a research note on Tuesday, May 7th. Needham & Company LLC raised their target price on Microchip Technology from $90.00 to $100.00 and gave the company a "buy" rating in a research note on Tuesday, May 7th. Finally, The Goldman Sachs Group raised their target price on Microchip Technology from $77.00 to $88.00 and gave the company a "neutral" rating in a research note on Tuesday, May 7th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $101.06.

View Our Latest Research Report on MCHP

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,188 shares of the business's stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $99.98, for a total value of $318,736.24. Following the sale, the chief financial officer now directly owns 33,257 shares in the company, valued at $3,325,034.86. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Stephen V. Drehobl sold 10,000 shares of Microchip Technology stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $90.88, for a total value of $908,800.00. Following the transaction, the vice president now owns 82,203 shares of the company's stock, valued at approximately $7,470,608.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James Eric Bjornholt sold 3,188 shares of Microchip Technology stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $99.98, for a total value of $318,736.24. Following the completion of the transaction, the chief financial officer now directly owns 33,257 shares in the company, valued at approximately $3,325,034.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,993 shares of company stock worth $2,251,857. 2.07% of the stock is owned by corporate insiders.

Microchip Technology Stock Performance

Shares of NASDAQ MCHP traded up $2.56 during midday trading on Friday, reaching $91.58. 9,784,321 shares of the company traded hands, compared to its average volume of 5,955,355. Microchip Technology Incorporated has a 52 week low of $68.75 and a 52 week high of $100.57. The stock has a 50-day moving average price of $92.48 and a 200 day moving average price of $89.03. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.20 and a quick ratio of 0.67. The company has a market cap of $49.17 billion, a price-to-earnings ratio of 26.39 and a beta of 1.55.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings results on Monday, May 6th. The semiconductor company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. Microchip Technology had a net margin of 24.98% and a return on equity of 36.78%. The firm had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.33 billion. During the same period in the previous year, the business earned $1.56 earnings per share. Microchip Technology's revenue for the quarter was down 40.6% compared to the same quarter last year. Sell-side analysts anticipate that Microchip Technology Incorporated will post 2.35 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd were given a $0.452 dividend. The ex-dividend date was Tuesday, May 21st. This is a boost from Microchip Technology's previous quarterly dividend of $0.45. This represents a $1.81 annualized dividend and a yield of 1.97%. Microchip Technology's payout ratio is 52.16%.

About Microchip Technology

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

→ Don’t say I didn’t warn you… (From Porter & Company) (Ad)

Should you invest $1,000 in Microchip Technology right now?

Before you consider Microchip Technology, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Microchip Technology wasn't on the list.

While Microchip Technology currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Beginner's Guide to Pot Stock Investing Cover

Click the link below and we'll send you MarketBeat's guide to pot stock investing and which pot companies show the most promise.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

3 Strong Buy Stocks for a Summer Surge

3 Strong Buy Stocks for a Summer Surge

In this video, we break down the factors driving the market's impressive performance and why the S&P could rise another 15% by year's end.

Related Videos

7 Cheap Dividend Stocks Offering Value and Price Upside

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines