Fidelis Capital Partners LLC Acquires 697 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Fidelis Capital Partners LLC boosted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 16.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,883 shares of the semiconductor company’s stock after acquiring an additional 697 shares during the period. Fidelis Capital Partners LLC’s holdings in Microchip Technology were worth $440,000 as of its most recent filing with the Securities and Exchange Commission.

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

Microchip Technology Price Performance

Shares of MCHP opened at $81.68 on Friday. Microchip Technology Incorporated has a 1 year low of $68.75 and a 1 year high of $94.30. 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 capitalization of $44.14 billion, a price-to-earnings ratio of 19.08, a price-to-earnings-growth ratio of 2.57 and a beta of 1.65. The business has a 50-day moving average of $86.50 and a 200-day moving average of $84.27.

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

Microchip Technology Increases Dividend

The firm also recently announced 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. The ex-dividend date was Thursday, February 22nd. This represents a $1.80 annualized dividend and a yield of 2.20%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.44. Microchip Technology’s dividend payout ratio (DPR) is currently 42.06%.

Insider Buying and Selling

In related news, CFO James Eric Bjornholt sold 1,970 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total transaction of $165,283.00. Following the completion of the sale, the chief financial officer now 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 Securities & Exchange Commission, which is available at the SEC website. In other Microchip Technology news, Director Karlton D. Johnson sold 370 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total value of $31,080.00. Following the completion of the sale, the director now owns 1,789 shares of the company’s stock, valued at $150,276. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James Eric Bjornholt sold 1,970 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $83.90, for a total value of $165,283.00. Following the completion of the sale, the chief financial officer now directly owns 32,893 shares of the company’s stock, valued at approximately $2,759,722.70. The disclosure for this sale can be found here. 2.07% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MCHP has been the topic of several analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $100.00 target price on shares of Microchip Technology in a report on Tuesday, January 30th. TD Cowen increased their target price on Microchip Technology from $75.00 to $80.00 and gave the stock a “market perform” rating in a report on Friday, February 2nd. The Goldman Sachs Group dropped their price objective on Microchip Technology from $87.00 to $77.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. Evercore ISI initiated coverage on Microchip Technology in a research report on Tuesday. They set an “outperform” rating and a $106.00 price objective for the company. Finally, Truist Financial dropped their price objective on Microchip Technology from $97.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, January 9th. 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 MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and an average price target of $92.50.

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.