First Command Advisory Services Inc. Takes $48,000 Position in Microchip Technology Incorporated (NASDAQ:MCHP)

First Command Advisory Services Inc. acquired a new position in Microchip Technology Incorporated (NASDAQ:MCHP) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 529 shares of the semiconductor company’s stock, valued at approximately $48,000.

Several other institutional investors have also recently bought and sold shares of the stock. Bleakley Financial Group LLC raised its position in Microchip Technology by 1.3% in the 4th quarter. Bleakley Financial Group LLC now owns 9,415 shares of the semiconductor company’s stock worth $849,000 after purchasing an additional 119 shares during the last quarter. Aspire Private Capital LLC raised its position in Microchip Technology by 3.2% in the 4th quarter. Aspire Private Capital LLC now owns 3,904 shares of the semiconductor company’s stock worth $274,266,959,000 after purchasing an additional 120 shares during the last quarter. RFG Advisory LLC raised its position in Microchip Technology by 3.2% in the 4th quarter. RFG Advisory LLC now owns 3,910 shares of the semiconductor company’s stock worth $353,000 after purchasing an additional 123 shares during the last quarter. Twelve Points Wealth Management LLC raised its position in shares of Microchip Technology by 1.0% during the 4th quarter. Twelve Points Wealth Management LLC now owns 12,229 shares of the semiconductor company’s stock valued at $1,103,000 after acquiring an additional 125 shares during the last quarter. Finally, Merit Financial Group LLC raised its position in shares of Microchip Technology by 1.9% during the 3rd quarter. Merit Financial Group LLC now owns 7,096 shares of the semiconductor company’s stock valued at $554,000 after acquiring an additional 134 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Insiders Place Their Bets

In related news, CFO James Eric Bjornholt sold 1,970 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $83.90, for a total transaction of $165,283.00. Following the sale, the chief financial officer now owns 32,893 shares in the company, valued at approximately $2,759,722.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Microchip Technology news, CFO James Eric Bjornholt sold 1,970 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $83.90, for a total value of $165,283.00. Following the sale, the chief financial officer now owns 32,893 shares in the company, valued at $2,759,722.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Karlton D. Johnson sold 370 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total transaction of $31,080.00. Following the completion of the sale, the director now owns 1,789 shares in the company, valued at approximately $150,276. The disclosure for this sale can be found here. Company insiders own 2.07% of the company’s stock.

Microchip Technology Stock Down 3.0 %

NASDAQ MCHP traded down $2.53 on Friday, reaching $81.68. The company had a trading volume of 6,912,273 shares, compared to its average volume of 4,081,499. The company’s fifty day moving average is $86.50 and its 200-day moving average is $84.32. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 0.98. Microchip Technology Incorporated has a 1-year low of $68.75 and a 1-year high of $94.30. The firm has a market capitalization of $44.14 billion, a price-to-earnings ratio of 19.08, a price-to-earnings-growth ratio of 2.49 and a beta of 1.65.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. Microchip Technology’s quarterly revenue was down 18.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.48 EPS. On average, research analysts forecast that Microchip Technology Incorporated will post 4.64 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Thursday, February 22nd. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.44. Microchip Technology’s dividend payout ratio is presently 42.06%.

Wall Street Analysts Forecast Growth

MCHP has been the subject of several recent research reports. TD Cowen upped their target price on shares of Microchip Technology from $75.00 to $80.00 and gave the company a “market perform” rating in a research report on Friday, February 2nd. Piper Sandler lowered shares of Microchip Technology from an “overweight” rating to a “neutral” rating and set a $80.00 price target for the company. in a report on Thursday, January 4th. Stifel Nicolaus boosted their price target on shares of Microchip Technology from $94.00 to $98.00 and gave the company a “buy” rating in a report on Thursday. Wolfe Research raised shares of Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 price target for the company in a report on Thursday, January 18th. Finally, Needham & Company LLC boosted their price target on shares of Microchip Technology from $85.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Microchip Technology currently has a consensus rating of “Moderate Buy” and an average target price of $92.50.

About Microchip Technology

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.