Microchip Technology Incorporated (NASDAQ:MCHP) Shares Bought by Personal CFO Solutions LLC

Personal CFO Solutions LLC increased its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 89.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,450 shares of the semiconductor company’s stock after buying an additional 6,361 shares during the period. Personal CFO Solutions LLC’s holdings in Microchip Technology were worth $771,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of MCHP. Mainstream Capital Management LLC purchased a new stake in shares of Microchip Technology in the fourth quarter valued at about $26,000. Prospera Private Wealth LLC purchased a new position in Microchip Technology in the 3rd quarter valued at about $29,000. Financial Life Planners acquired a new stake in shares of Microchip Technology during the fourth quarter worth $32,000. Peterson Financial Group Inc. purchased a new stake in Microchip Technology in the third quarter valued at approximately $34,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Microchip Technology during the 3rd quarter worth $34,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insiders Place Their Bets

In other news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the sale, the chief financial officer now directly owns 33,272 shares in the company, valued at $2,025,599.36. This represents a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.10% of the company’s stock.

Microchip Technology Trading Up 2.6 %

MCHP opened at $59.77 on Monday. Microchip Technology Incorporated has a twelve month low of $50.21 and a twelve month high of $100.57. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. The firm has a market cap of $32.15 billion, a PE ratio of 106.73 and a beta of 1.52. The firm’s fifty day moving average is $56.98 and its two-hundred day moving average is $66.56.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. Equities research analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology’s payout ratio is presently 325.00%.

Analyst Ratings Changes

MCHP has been the topic of several research reports. Stifel Nicolaus cut their price target on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. Needham & Company LLC raised their price objective on Microchip Technology from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Piper Sandler reaffirmed an “overweight” rating and set a $65.00 price target (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Mizuho upped their target price on Microchip Technology from $58.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Finally, KeyCorp lowered their price target on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $74.37.

About Microchip Technology

Microchip Technology Incorporated engages in the development, manufacture, and sale of 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 mixed-signal 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.