Little House Capital LLC Acquires Shares of 5,136 Microchip Technology Incorporated (NASDAQ:MCHP)

Little House Capital LLC acquired a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,136 shares of the semiconductor company’s stock, valued at approximately $463,000.

Several other large investors also recently bought and sold shares of the company. Legacy Capital Wealth Partners LLC grew its position in Microchip Technology by 9.0% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 11,269 shares of the semiconductor company’s stock valued at $1,016,000 after acquiring an additional 928 shares in the last quarter. Unique Wealth Strategies LLC acquired a new stake in Microchip Technology in the fourth quarter valued at approximately $763,000. Headlands Technologies LLC grew its position in shares of Microchip Technology by 202.5% during the fourth quarter. Headlands Technologies LLC now owns 20,713 shares of the semiconductor company’s stock worth $1,868,000 after buying an additional 13,866 shares in the last quarter. Truist Financial Corp grew its position in shares of Microchip Technology by 324.0% during the fourth quarter. Truist Financial Corp now owns 1,815,013 shares of the semiconductor company’s stock worth $163,678,000 after buying an additional 1,386,924 shares in the last quarter. Finally, Bryn Mawr Capital Management LLC grew its position in shares of Microchip Technology by 11.4% during the fourth 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. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MCHP. Truist Financial decreased their price target on shares of Microchip Technology from $97.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, January 9th. The Goldman Sachs Group decreased their price target on shares of Microchip Technology from $87.00 to $77.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. TD Cowen raised their price target on shares of Microchip Technology from $75.00 to $80.00 and gave the stock a “market perform” rating in a research report on Friday, February 2nd. Evercore ISI started coverage on shares of Microchip Technology in a research report on Tuesday, April 16th. They set an “outperform” rating and a $106.00 price target for the company. Finally, Needham & Company LLC raised their price objective on Microchip Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Six research 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, Microchip Technology currently has a consensus rating of “Moderate Buy” and an average target price of $92.50.

Insider Activity at Microchip Technology

In related news, Director Karlton D. Johnson sold 370 shares of Microchip Technology stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total transaction of $31,080.00. Following the sale, the director now directly owns 1,789 shares in the company, valued at $150,276. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO James Eric Bjornholt sold 1,970 shares of Microchip Technology stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $83.90, for a total transaction 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 the SEC website. Also, Director Karlton D. Johnson sold 370 shares of Microchip Technology stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total transaction of $31,080.00. Following 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. Company insiders own 2.07% of the company’s stock.

Microchip Technology Stock Performance

MCHP stock traded up $1.39 during mid-day trading on Friday, reaching $93.60. The company had a trading volume of 5,621,114 shares, compared to its average volume of 4,575,927. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $50.58 billion, a P/E ratio of 21.87, a P/E/G ratio of 2.86 and a beta of 1.65. Microchip Technology Incorporated has a one year low of $68.75 and a one year high of $94.63. The stock’s 50-day simple moving average is $87.24 and its two-hundred day simple moving average is $84.68.

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

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were paid a dividend of $0.45 per share. This is a boost from Microchip Technology’s previous quarterly dividend of $0.44. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date was Thursday, February 22nd. Microchip Technology’s payout ratio is currently 42.06%.

Microchip Technology Company 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.