Microchip Technology Incorporated (NASDAQ:MCHP) Shares Bought by Foster & Motley Inc.

Foster & Motley Inc. raised its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 19.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,255 shares of the semiconductor company’s stock after acquiring an additional 7,856 shares during the quarter. Foster & Motley Inc.’s holdings in Microchip Technology were worth $4,261,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of MCHP. Mizuho Markets Americas LLC acquired a new position in Microchip Technology in the third quarter valued at approximately $225,800,000. Qube Research & Technologies Ltd increased its position in shares of Microchip Technology by 122.1% in the third quarter. Qube Research & Technologies Ltd now owns 1,529,186 shares of the semiconductor company’s stock valued at $119,353,000 after buying an additional 840,526 shares in the last quarter. Public Sector Pension Investment Board increased its position in shares of Microchip Technology by 173.4% in the third quarter. Public Sector Pension Investment Board now owns 1,062,611 shares of the semiconductor company’s stock valued at $82,937,000 after buying an additional 673,924 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Microchip Technology by 1,082.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 715,875 shares of the semiconductor company’s stock valued at $64,558,000 after buying an additional 655,332 shares in the last quarter. Finally, Deutsche Bank AG increased its position in shares of Microchip Technology by 27.8% in the third quarter. Deutsche Bank AG now owns 1,927,892 shares of the semiconductor company’s stock valued at $150,472,000 after buying an additional 418,869 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Karlton D. Johnson sold 370 shares of the company’s stock in a transaction 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 transaction, the director now owns 1,789 shares of the company’s stock, valued at approximately $150,276. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Karlton D. Johnson sold 370 shares of the 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 transaction, the director now owns 1,789 shares of the company’s stock, valued at approximately $150,276. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO James Eric Bjornholt sold 1,970 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $83.90, for a total value of $165,283.00. Following the transaction, the chief financial officer now directly owns 32,893 shares in the company, valued at approximately $2,759,722.70. The disclosure for this sale can be found here. Corporate insiders own 2.07% of the company’s stock.

Microchip Technology Stock Up 0.7 %

Shares of NASDAQ:MCHP opened at $84.13 on Tuesday. Microchip Technology Incorporated has a 52-week low of $68.75 and a 52-week high of $94.30. The business has a fifty day moving average of $86.50 and a two-hundred day moving average of $84.41. The stock has a market cap of $45.46 billion, a P/E ratio of 19.52, a PEG ratio of 2.49 and a beta of 1.65. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 0.57.

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

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Thursday, February 22nd. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.44. Microchip Technology’s dividend payout ratio is 42.06%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Susquehanna restated a “positive” rating and issued a $100.00 price objective on shares of Microchip Technology in a research report on Monday, April 8th. Rosenblatt Securities restated a “buy” rating and issued a $100.00 price objective on shares of Microchip Technology in a research report on Tuesday, January 30th. Stifel Nicolaus boosted their price target on Microchip Technology from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Evercore ISI started coverage on 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, Piper Sandler cut Microchip Technology from an “overweight” rating to a “neutral” rating and set a $80.00 price target for the company. in a research report on Thursday, January 4th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $92.50.

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.