Wealthcare Advisory Partners LLC Buys 352 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Wealthcare Advisory Partners LLC grew its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 15.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,704 shares of the semiconductor company’s stock after acquiring an additional 352 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Microchip Technology were worth $243,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Horizon Bancorp Inc. IN bought a new position in shares of Microchip Technology in the fourth quarter worth about $110,000. Rockline Wealth Management LLC bought a new position in shares of Microchip Technology in the fourth quarter worth about $4,449,000. Caxton Associates LP raised its stake in shares of Microchip Technology by 4,511.5% in the fourth quarter. Caxton Associates LP now owns 400,000 shares of the semiconductor company’s stock worth $36,072,000 after acquiring an additional 391,326 shares during the last quarter. RFG Advisory LLC raised its stake in shares of Microchip Technology by 228.4% in the first quarter. RFG Advisory LLC now owns 12,841 shares of the semiconductor company’s stock worth $1,152,000 after acquiring an additional 8,931 shares during the last quarter. Finally, 17 Capital Partners LLC bought a new stake in shares of Microchip Technology during the fourth quarter worth approximately $1,827,000. 91.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MCHP has been the subject of a number of recent research reports. Truist Financial boosted their price target on shares of Microchip Technology from $93.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Mizuho raised shares of Microchip Technology from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $115.00 in a research note on Friday, May 24th. TD Cowen boosted their price target on shares of Microchip Technology from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Tuesday, May 7th. B. Riley boosted their price target on shares of Microchip Technology from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Finally, Needham & Company LLC boosted their price target on shares of Microchip Technology from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $101.06.

Microchip Technology Stock Up 0.1 %

Microchip Technology stock opened at $91.59 on Tuesday. The stock has a market capitalization of $49.17 billion, a PE ratio of 26.39 and a beta of 1.54. Microchip Technology Incorporated has a twelve month low of $68.75 and a twelve month high of $100.57. The company has a quick ratio of 0.67, a current ratio of 1.20 and a debt-to-equity ratio of 0.75. The company has a 50 day moving average of $93.02 and a 200-day moving average of $89.10.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Monday, May 6th. The semiconductor company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Microchip Technology had a net margin of 24.98% and a return on equity of 36.78%. The business’s quarterly revenue was down 40.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.56 earnings per share. On average, equities research analysts anticipate that Microchip Technology Incorporated will post 2.35 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were issued a dividend of $0.452 per share. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $1.81 annualized dividend and a yield of 1.97%. Microchip Technology’s dividend payout ratio is presently 52.16%.

Insider Buying and Selling

In related news, VP Stephen V. Drehobl sold 10,000 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $90.88, for a total transaction of $908,800.00. Following the completion of the transaction, the vice president now owns 82,203 shares in the company, valued at $7,470,608.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Microchip Technology news, VP Stephen V. Drehobl sold 10,000 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $90.88, for a total value of $908,800.00. Following the completion of the sale, the vice president now owns 82,203 shares in the company, valued at $7,470,608.64. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew W. Chapman sold 2,748 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $93.88, for a total transaction of $257,982.24. Following the completion of the sale, the director now owns 35,682 shares of the company’s stock, valued at approximately $3,349,826.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,993 shares of company stock worth $2,251,857. 2.07% of the stock is owned by insiders.

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.