Headlands Technologies LLC Buys 13,866 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Headlands Technologies LLC increased its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 202.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,713 shares of the semiconductor company’s stock after purchasing an additional 13,866 shares during the quarter. Headlands Technologies LLC’s holdings in Microchip Technology were worth $1,868,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Truist Financial Corp raised its holdings in Microchip Technology by 324.0% in the 4th quarter. Truist Financial Corp now owns 1,815,013 shares of the semiconductor company’s stock worth $163,678,000 after purchasing an additional 1,386,924 shares during the period. Bryn Mawr Capital Management LLC increased its stake in Microchip Technology by 11.4% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 23,392 shares of the semiconductor company’s stock worth $2,109,000 after buying an additional 2,398 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in Microchip Technology by 6.5% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 728,331 shares of the semiconductor company’s stock worth $65,681,000 after buying an additional 44,358 shares in the last quarter. Syon Capital LLC increased its stake in Microchip Technology by 45.6% in the 4th quarter. Syon Capital LLC now owns 5,757 shares of the semiconductor company’s stock worth $519,000 after buying an additional 1,803 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake in Microchip Technology by 3.2% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 12,194 shares of the semiconductor company’s stock worth $1,100,000 after buying an additional 380 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Microchip Technology Stock Up 1.5 %

Shares of NASDAQ:MCHP opened at $93.60 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.58 and a debt-to-equity ratio of 0.57. Microchip Technology Incorporated has a 12 month low of $68.75 and a 12 month high of $94.63. The company has a 50-day moving average price of $87.24 and a 200 day moving average price of $84.68. The company has a market cap of $50.58 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 2.86 and a beta of 1.65.

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

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were issued a $0.45 dividend. 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 1.92%. Microchip Technology’s dividend payout ratio (DPR) is presently 42.06%.

Insider Activity at Microchip Technology

In other Microchip Technology news, Director Karlton D. Johnson sold 370 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total value of $31,080.00. Following the completion of the sale, the director now owns 1,789 shares of the company’s stock, valued at $150,276. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Microchip Technology news, CFO James Eric Bjornholt sold 1,970 shares of the firm’s 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Karlton D. Johnson sold 370 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $150,276. The disclosure for this sale can be found here. 2.07% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. UBS Group cut their price target on Microchip Technology from $105.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, February 2nd. The Goldman Sachs Group cut their price target on Microchip Technology from $87.00 to $77.00 and set a “neutral” rating for the company in a research note on Friday, February 2nd. Truist Financial cut their price target on Microchip Technology from $97.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, January 9th. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price target on shares of Microchip Technology in a research note on Tuesday, January 30th. Finally, Wolfe Research upgraded Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 price objective for the company in a research report on Thursday, January 18th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $92.50.

About Microchip Technology

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.