Benjamin F. Edwards & Company Inc. Grows Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Benjamin F. Edwards & Company Inc. raised its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 9.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,391 shares of the semiconductor company’s stock after purchasing an additional 1,030 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Microchip Technology were worth $1,027,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in shares of Microchip Technology during the 3rd quarter worth approximately $26,000. BKM Wealth Management LLC purchased a new stake in shares of Microchip Technology during the fourth quarter valued at $27,000. Rakuten Securities Inc. bought a new position in shares of Microchip Technology in the fourth quarter worth about $27,000. Fortitude Family Office LLC purchased a new stake in Microchip Technology in the 4th quarter valued at about $29,000. Finally, Milestone Investment Advisors LLC bought a new position in Microchip Technology in the third quarter worth approximately $36,000. Institutional investors own 91.51% of the company’s stock.

Insider Activity at Microchip Technology

In other 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 transaction, the chief financial officer now directly owns 32,893 shares of the company’s stock, valued at $2,759,722.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.07% of the stock is owned by corporate insiders.

Microchip Technology Price Performance

NASDAQ:MCHP opened at $93.76 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.58. The company has a 50 day moving average price of $88.27 and a 200-day moving average price of $85.25. Microchip Technology Incorporated has a 1-year low of $68.75 and a 1-year high of $94.63. The firm has a market cap of $50.67 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 2.79 and a beta of 1.60.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Monday, May 6th. The semiconductor company reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the firm earned $1.56 EPS. The company’s quarterly revenue was down 40.6% on a year-over-year basis. Equities research analysts forecast that Microchip Technology Incorporated will post 4.64 EPS for the current year.

Microchip Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd will be issued a $0.452 dividend. This represents a $1.81 annualized dividend and a yield of 1.93%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s payout ratio is presently 42.06%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MCHP shares. 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 target on the stock. Wolfe Research raised Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 price target for the company in a research report on Thursday, January 18th. TD Cowen raised their price objective on Microchip Technology from $75.00 to $80.00 and gave the company a “market perform” rating in a research report on Friday, February 2nd. Stifel Nicolaus increased their price target on shares of Microchip Technology from $98.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Truist Financial lowered their price target on Microchip Technology from $97.00 to $93.00 and set a “buy” rating for the company in a report on Tuesday, January 9th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Microchip Technology presently has an average rating of “Moderate Buy” and an average price target of $92.75.

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.