TFG Advisers LLC Has $1.97 Million Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

TFG Advisers LLC cut its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 0.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,531 shares of the semiconductor company’s stock after selling 186 shares during the period. TFG Advisers LLC’s holdings in Microchip Technology were worth $1,970,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Pathway Financial Advisers LLC bought a new position in Microchip Technology during the 1st quarter worth $39,000. Richardson Capital Management LLC acquired a new stake in shares of Microchip Technology in the first quarter valued at approximately $45,000. Versant Capital Management Inc boosted its stake in shares of Microchip Technology by 148.8% in the second quarter. Versant Capital Management Inc now owns 530 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 317 shares during the period. Wolff Wiese Magana LLC grew its position in Microchip Technology by 55.2% during the third quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock worth $49,000 after buying an additional 218 shares in the last quarter. Finally, GoalVest Advisory LLC raised its holdings in Microchip Technology by 49.8% in the 1st quarter. GoalVest Advisory LLC now owns 602 shares of the semiconductor company’s stock valued at $54,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Activity

In related news, CFO James Eric Bjornholt sold 2,154 shares of Microchip Technology stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $81.50, for a total value of $175,551.00. Following the transaction, the chief financial officer now directly owns 33,257 shares of the company’s stock, valued at $2,710,445.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on MCHP shares. B. Riley decreased their price target on Microchip Technology from $110.00 to $103.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. dropped their target price on shares of Microchip Technology from $110.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Mizuho set a $95.00 price target on shares of Microchip Technology in a report on Friday, October 18th. Piper Sandler raised shares of Microchip Technology from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $90.00 to $100.00 in a research note on Friday, August 16th. Finally, Susquehanna cut their target price on Microchip Technology from $105.00 to $95.00 and set a “positive” rating for the company in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Microchip Technology has an average rating of “Moderate Buy” and a consensus target price of $97.89.

Microchip Technology Trading Up 1.1 %

NASDAQ MCHP traded up $0.82 during trading hours on Wednesday, reaching $76.25. The company’s stock had a trading volume of 400,030 shares, compared to its average volume of 5,935,486. The firm has a fifty day simple moving average of $78.19 and a 200-day simple moving average of $85.98. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.94 and a quick ratio of 1.08. Microchip Technology Incorporated has a 52 week low of $68.75 and a 52 week high of $100.57. The stock has a market cap of $40.91 billion, a P/E ratio of 21.91 and a beta of 1.52.

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

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were given a $0.454 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date was Thursday, August 22nd. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s payout ratio is 52.16%.

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.