Godsey & Gibb Inc. Purchases 5,234 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Godsey & Gibb Inc. lifted its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 2.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 250,381 shares of the semiconductor company’s stock after purchasing an additional 5,234 shares during the period. Godsey & Gibb Inc.’s holdings in Microchip Technology were worth $20,103,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Steph & Co. boosted its holdings in Microchip Technology by 57.4% in the first quarter. Steph & Co. now owns 414 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 151 shares in the last quarter. Pathway Financial Advisers LLC bought a new stake in Microchip Technology in the first quarter valued at $39,000. Richardson Capital Management LLC bought a new stake in Microchip Technology in the first quarter valued at $45,000. Versant Capital Management Inc boosted its holdings in 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 acquiring an additional 317 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in Microchip Technology in the first quarter valued at $54,000. Institutional investors own 91.51% of the company’s stock.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,154 shares of the company’s 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 completion of the transaction, the chief financial officer now directly owns 33,257 shares in the company, valued at $2,710,445.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.07% of the stock is currently owned by corporate insiders.

Microchip Technology Price Performance

NASDAQ MCHP opened at $77.34 on Monday. Microchip Technology Incorporated has a 52 week low of $68.75 and a 52 week high of $100.57. The firm has a market capitalization of $41.49 billion, a P/E ratio of 22.29 and a beta of 1.52. The company has a quick ratio of 1.08, a current ratio of 1.94 and a debt-to-equity ratio of 0.96. The company has a 50-day moving average price of $78.29 and a 200-day moving average price of $86.14.

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

Microchip Technology Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. B. Riley dropped their target price 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. Citigroup dropped their target price on shares of Microchip Technology from $104.00 to $92.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Susquehanna dropped their target price on shares of Microchip Technology from $115.00 to $105.00 and set a “positive” rating on the stock in a report on Friday, August 2nd. Needham & Company LLC dropped their target price on shares of Microchip Technology from $100.00 to $96.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Finally, Piper Sandler upgraded 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 report on Friday, August 16th. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.42.

Microchip Technology Company 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.