F M Investments LLC Takes Position in Microchip Technology Incorporated (NASDAQ:MCHP)

F M Investments LLC bought a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 38,804 shares of the semiconductor company’s stock, valued at approximately $3,551,000.

A number of other hedge funds have also recently modified their holdings of MCHP. Norges Bank bought a new position in Microchip Technology in the 4th quarter worth about $672,196,000. Clearbridge Investments LLC boosted its stake in Microchip Technology by 18,944.8% in the 1st quarter. Clearbridge Investments LLC now owns 1,973,045 shares of the semiconductor company’s stock worth $177,002,000 after purchasing an additional 1,962,685 shares in the last quarter. Vanguard Group Inc. boosted its stake in Microchip Technology by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 68,583,723 shares of the semiconductor company’s stock worth $6,152,646,000 after purchasing an additional 1,921,497 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Microchip Technology by 425.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,377,099 shares of the semiconductor company’s stock worth $123,540,000 after purchasing an additional 1,114,962 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in Microchip Technology by 17.2% in the 1st quarter. Van ECK Associates Corp now owns 6,068,311 shares of the semiconductor company’s stock worth $544,388,000 after purchasing an additional 891,297 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Price Performance

Shares of NASDAQ MCHP traded up $1.18 during midday trading on Friday, reaching $82.16. 4,872,782 shares of the stock traded hands, compared to its average volume of 5,988,719. The company’s 50 day moving average is $85.98 and its 200 day moving average is $88.43. Microchip Technology Incorporated has a one year low of $68.75 and a one year high of $100.57. The stock has a market capitalization of $44.08 billion, a PE ratio of 23.41 and a beta of 1.54. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.20 and a quick ratio of 0.67.

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 the consensus estimate of $0.52 by $0.01. Microchip Technology had a return on equity of 27.82% and a net margin of 20.80%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the prior year, the firm posted $1.56 EPS. Microchip Technology’s quarterly revenue was down 45.8% compared to the same quarter last year. On average, equities research analysts anticipate that Microchip Technology Incorporated will post 2.35 earnings per share for the current year.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd will be paid a $0.454 dividend. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 2.21%. Microchip Technology’s dividend payout ratio (DPR) is presently 52.16%.

Wall Street Analysts Forecast Growth

MCHP has been the subject of a number of recent analyst reports. Citigroup decreased their target price on Microchip Technology from $104.00 to $92.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. decreased their target price on Microchip Technology from $110.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Jefferies Financial Group initiated coverage on Microchip Technology in a research report on Monday, May 13th. They issued a “buy” rating and a $115.00 target price for the company. B. Riley reduced their target price on shares of Microchip Technology from $110.00 to $103.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, Morgan Stanley lowered shares of Microchip Technology from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $102.00 to $100.00 in a report on Thursday, July 11th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Microchip Technology currently has a consensus rating of “Moderate Buy” and an average target price of $99.95.

Insiders Place Their Bets

In other news, CFO James Eric Bjornholt sold 2,154 shares of the firm’s stock in a transaction 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. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO James Eric Bjornholt sold 2,154 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $81.50, for a total transaction of $175,551.00. Following the sale, the chief financial officer now owns 33,257 shares of the company’s stock, valued at $2,710,445.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Matthew W. Chapman sold 2,748 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $93.88, for a total value of $257,982.24. Following the sale, the director now directly owns 35,682 shares in the company, valued at approximately $3,349,826.16. The disclosure for this sale can be found here. Insiders own 2.07% of the company’s stock.

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.