MML Investors Services LLC Buys 41,087 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

MML Investors Services LLC lifted its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 16.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 294,563 shares of the semiconductor company’s stock after purchasing an additional 41,087 shares during the quarter. MML Investors Services LLC’s holdings in Microchip Technology were worth $16,893,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Mainstream Capital Management LLC bought a new position in Microchip Technology in the 4th quarter worth about $26,000. Rakuten Securities Inc. increased its position in shares of Microchip Technology by 309.5% in the fourth quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 359 shares during the last quarter. OFI Invest Asset Management purchased a new stake in Microchip Technology in the fourth quarter valued at approximately $29,000. Financial Life Planners bought a new stake in Microchip Technology during the fourth quarter valued at approximately $32,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in Microchip Technology in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Raymond James reiterated a “strong-buy” rating and issued a $60.00 target price (down from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. Morgan Stanley dropped their target price on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Stifel Nicolaus reduced their price target on shares of Microchip Technology from $80.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. B. Riley restated a “buy” rating and issued a $75.00 price objective (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Finally, StockNews.com cut shares of Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Microchip Technology currently has an average rating of “Moderate Buy” and an average price target of $69.32.

Microchip Technology Stock Up 2.3 %

MCHP stock opened at $39.43 on Tuesday. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. The business has a 50 day moving average of $50.43 and a 200 day moving average of $59.22. Microchip Technology Incorporated has a twelve month low of $34.13 and a twelve month high of $100.57. The firm has a market cap of $21.21 billion, a PE ratio of 70.41 and a beta of 1.51.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) 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%. On average, research analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were issued a $0.455 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a yield of 4.62%. Microchip Technology’s payout ratio is currently 325.00%.

Insider Activity at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value 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. The trade was a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.10% of the stock is currently owned by insiders.

Microchip Technology Profile

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.