Transce3nd LLC Invests $398,000 in Microchip Technology Incorporated (NASDAQ:MCHP)

Transce3nd LLC acquired a new stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,964 shares of the semiconductor company's stock, valued at approximately $398,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in Microchip Technology in the third quarter valued at approximately $491,000. Stock Yards Bank & Trust Co. increased its position in shares of Microchip Technology by 3.3% in the 3rd quarter. Stock Yards Bank & Trust Co. now owns 11,517 shares of the semiconductor company's stock valued at $925,000 after buying an additional 368 shares in the last quarter. World Investment Advisors LLC raised its stake in Microchip Technology by 11.7% during the 3rd quarter. World Investment Advisors LLC now owns 42,882 shares of the semiconductor company's stock worth $3,443,000 after buying an additional 4,477 shares during the period. Arvest Bank Trust Division bought a new position in Microchip Technology during the third quarter worth about $223,000. Finally, Wilmington Savings Fund Society FSB lifted its holdings in Microchip Technology by 16.6% during the third quarter. Wilmington Savings Fund Society FSB now owns 60,394 shares of the semiconductor company's stock worth $4,849,000 after acquiring an additional 8,592 shares in the last quarter. Institutional investors own 91.51% of the company's stock.

Wall Street Analyst Weigh In

MCHP has been the topic of a number of research analyst reports. Raymond James reaffirmed a "strong-buy" rating and set a $60.00 price target (down previously from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. TD Cowen raised their target price on shares of Microchip Technology from $50.00 to $60.00 and gave the stock a "hold" rating in a report on Tuesday, March 4th. KeyCorp reduced their price target on shares of Microchip Technology from $70.00 to $60.00 and set an "overweight" rating for the company in a report on Friday, February 7th. Stifel Nicolaus dropped their price objective on shares of Microchip Technology from $80.00 to $60.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, Citigroup reduced their target price on shares of Microchip Technology from $65.00 to $50.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $69.32.

Microchip Technology Stock Down 0.5 %

Shares of Microchip Technology stock traded down $0.23 on Friday, reaching $46.89. 7,677,163 shares of the company were exchanged, compared to its average volume of 8,224,269. The company has a market capitalization of $25.22 billion, a price-to-earnings ratio of 83.73 and a beta of 1.51. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $100.57. The company has a 50-day moving average of $49.48 and a 200 day moving average of $58.56.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. On average, equities research analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date was Monday, February 24th. Microchip Technology's payout ratio is currently 325.00%.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the company's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the transaction, the chief financial officer now directly owns 33,272 shares in the company, valued at $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company 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.