Microchip Technology Incorporated (NASDAQ:MCHP) Stake Increased by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC increased its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 11.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,392 shares of the semiconductor company’s stock after buying an additional 2,398 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Microchip Technology were worth $2,109,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 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. RFG Advisory LLC boosted its holdings in Microchip Technology by 3.2% in the fourth quarter. RFG Advisory LLC now owns 3,910 shares of the semiconductor company’s stock worth $353,000 after purchasing an additional 123 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. Merit Financial Group LLC boosted its holdings in Microchip Technology by 1.9% in the third quarter. Merit Financial Group LLC now owns 7,096 shares of the semiconductor company’s stock worth $554,000 after purchasing an additional 134 shares during the period. Finally, Financial Advocates Investment Management boosted its holdings in Microchip Technology by 4.1% in the third quarter. Financial Advocates Investment Management now owns 3,607 shares of the semiconductor company’s stock worth $281,000 after purchasing an additional 142 shares during the period. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Performance

Shares of NASDAQ MCHP traded up $1.39 during midday trading on Friday, reaching $93.60. 5,620,228 shares of the company traded hands, compared to its average volume of 5,559,520. Microchip Technology Incorporated has a 52 week low of $68.75 and a 52 week high of $94.63. The stock has a 50-day moving average price of $87.24 and a 200 day moving average price of $84.65. 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 market cap of $50.58 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 2.77 and a beta of 1.65.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share 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 business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the business earned $1.48 earnings per share. The company’s revenue was down 18.6% on a year-over-year basis. Sell-side analysts anticipate that Microchip Technology Incorporated will post 4.64 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were given a $0.45 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This is a boost from Microchip Technology’s previous quarterly dividend of $0.44. This represents a $1.80 annualized dividend and a yield of 1.92%. Microchip Technology’s payout ratio is 42.06%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MCHP shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Microchip Technology in a report on Tuesday, January 30th. UBS Group reduced their price target on shares of Microchip Technology from $105.00 to $95.00 and set a “buy” rating for the company in a report on Friday, February 2nd. Evercore ISI assumed coverage on shares of Microchip Technology in a report on Tuesday, April 16th. They set an “outperform” rating and a $106.00 price target for the company. TD Cowen boosted their price target on shares of Microchip Technology from $75.00 to $80.00 and gave the company a “market perform” rating in a report on Friday, February 2nd. Finally, StockNews.com downgraded shares of Microchip Technology from a “buy” rating to a “hold” rating in a report on Friday, December 29th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $92.50.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 1,970 shares of the business’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 sale, the chief financial officer now directly owns 32,893 shares in the company, valued at $2,759,722.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Microchip Technology news, CFO James Eric Bjornholt sold 1,970 shares of the business’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 sale, the chief financial officer now directly owns 32,893 shares in the company, valued at $2,759,722.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Karlton D. Johnson sold 370 shares of the business’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 owns 1,789 shares in the company, valued at $150,276. The disclosure for this sale can be found here. 2.07% of the stock is owned by company insiders.

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.