Microchip Technology Incorporated (NASDAQ:MCHP) Shares Bought by Claro Advisors LLC

Claro Advisors LLC increased its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 254.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,966 shares of the semiconductor company’s stock after buying an additional 12,176 shares during the quarter. Claro Advisors LLC’s holdings in Microchip Technology were worth $1,362,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Rise Advisors LLC bought a new stake in Microchip Technology during the first quarter worth approximately $28,000. Steph & Co. grew its holdings in shares of Microchip Technology by 57.4% in the 1st quarter. Steph & Co. now owns 414 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 151 shares during the last quarter. Pathway Financial Advisers LLC acquired a new position in shares of Microchip Technology in the 1st quarter worth $39,000. Richardson Capital Management LLC acquired a new stake in shares of Microchip Technology during the first quarter worth $45,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Microchip Technology by 148.8% during the second quarter. Versant Capital Management Inc now owns 530 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 317 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Price Performance

Shares of MCHP opened at $77.34 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.08 and a current ratio of 1.94. The firm has a market cap of $41.49 billion, a PE ratio of 22.29 and a beta of 1.52. The firm’s 50 day moving average price is $78.29 and its 200 day moving average price is $86.17. Microchip Technology Incorporated has a twelve month low of $68.75 and a twelve month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. Microchip Technology had a net margin of 20.80% and a return on equity of 28.33%. Microchip Technology’s revenue for the quarter was down 45.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.56 EPS. As a group, research analysts expect that Microchip Technology Incorporated will post 1.73 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.454 per share. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.35%. Microchip Technology’s dividend payout ratio is currently 52.16%.

Insider Activity at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,154 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $81.50, for a total transaction of $175,551.00. Following the transaction, the chief financial officer now owns 33,257 shares in the company, valued at $2,710,445.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.07% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MCHP. Susquehanna dropped their price target on Microchip Technology from $115.00 to $105.00 and set a “positive” rating on the stock in a research note on Friday, August 2nd. B. Riley cut their price target on shares of Microchip Technology from $110.00 to $103.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Mizuho set a $95.00 price objective on shares of Microchip Technology in a research note on Friday. Piper Sandler raised shares of Microchip Technology from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $90.00 to $100.00 in a research note on Friday, August 16th. Finally, Bank of America lowered Microchip Technology from a “buy” rating to a “neutral” rating and reduced their target price for the company from $110.00 to $90.00 in a report on Friday, August 2nd. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $98.42.

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.