3,001 Shares in Microchip Technology Incorporated (NASDAQ:MCHP) Purchased by GAMMA Investing LLC

GAMMA Investing LLC acquired a new position in Microchip Technology Incorporated (NASDAQ:MCHP) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 3,001 shares of the semiconductor company’s stock, valued at approximately $256,000.

Several other large investors also recently bought and sold shares of MCHP. Bleakley Financial Group LLC grew its stake in shares of Microchip Technology by 1.3% during the 4th quarter. Bleakley Financial Group LLC now owns 9,415 shares of the semiconductor company’s stock valued at $849,000 after purchasing an additional 119 shares during the period. RFG Advisory LLC grew its stake in shares of Microchip Technology by 3.2% during the 4th quarter. RFG Advisory LLC now owns 3,910 shares of the semiconductor company’s stock valued at $353,000 after purchasing an additional 123 shares during the period. Twelve Points Wealth Management LLC grew its stake in shares of Microchip Technology by 1.0% during the 4th quarter. Twelve Points Wealth Management LLC now owns 12,229 shares of the semiconductor company’s stock valued at $1,103,000 after purchasing an additional 125 shares during the period. Merit Financial Group LLC grew its stake in shares of Microchip Technology by 1.9% during the 3rd quarter. Merit Financial Group LLC now owns 7,096 shares of the semiconductor company’s stock valued at $554,000 after purchasing an additional 134 shares during the period. Finally, Financial Advocates Investment Management grew its stake in shares of Microchip Technology by 4.1% during the 3rd quarter. Financial Advocates Investment Management now owns 3,607 shares of the semiconductor company’s stock valued at $281,000 after purchasing an additional 142 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Stock Up 1.7 %

Shares of MCHP opened at $92.21 on Friday. The stock has a market capitalization of $49.83 billion, a price-to-earnings ratio of 21.54, a price-to-earnings-growth ratio of 2.77 and a beta of 1.65. Microchip Technology Incorporated has a 1 year low of $68.75 and a 1 year high of $94.30. The business’s 50 day simple moving average is $87.00 and its 200-day simple moving average is $84.55. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.58.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.04. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.77 billion. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The company’s revenue for the quarter was down 18.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.48 EPS. As a group, equities analysts expect that Microchip Technology Incorporated will post 4.64 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were given a dividend of $0.45 per share. This is an increase from Microchip Technology’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 22nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.95%. Microchip Technology’s dividend payout ratio is presently 42.06%.

Insider Transactions at Microchip Technology

In other news, CFO James Eric Bjornholt sold 1,970 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total transaction of $165,283.00. Following the transaction, the chief financial officer now owns 32,893 shares of the company’s stock, valued at approximately $2,759,722.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Karlton D. Johnson sold 370 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total transaction of $31,080.00. Following the completion of the sale, the director now directly owns 1,789 shares in the company, valued at approximately $150,276. 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 1,970 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $83.90, for a total value of $165,283.00. Following the completion of the sale, the chief financial officer now owns 32,893 shares of the company’s stock, valued at $2,759,722.70. The disclosure for this sale can be found here. Corporate insiders own 2.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on MCHP shares. StockNews.com downgraded Microchip Technology from a “buy” rating to a “hold” rating in a research note on Friday, December 29th. TD Cowen boosted their price objective on Microchip Technology from $75.00 to $80.00 and gave the company a “market perform” rating in a research note on Friday, February 2nd. Evercore ISI started coverage on Microchip Technology in a research note on Tuesday, April 16th. They set an “outperform” rating and a $106.00 price objective for the company. Rosenblatt Securities reiterated a “buy” rating and set a $100.00 price objective on shares of Microchip Technology in a research note on Tuesday, January 30th. Finally, Piper Sandler downgraded Microchip Technology from an “overweight” rating to a “neutral” rating and set a $80.00 price objective for the company. in a research note on Thursday, January 4th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.50.

Microchip Technology 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.