Legacy Financial Advisors Inc. Buys 225 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Legacy Financial Advisors Inc. increased its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 7.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,398 shares of the semiconductor company’s stock after purchasing an additional 225 shares during the period. Legacy Financial Advisors Inc.’s holdings in Microchip Technology were worth $306,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Commonwealth Equity Services LLC boosted its stake in shares of Microchip Technology by 8.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 135,845 shares of the semiconductor company’s stock worth $10,603,000 after buying an additional 10,702 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Microchip Technology by 4.7% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 39,162 shares of the semiconductor company’s stock worth $3,057,000 after purchasing an additional 1,769 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Microchip Technology by 4.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 293,870 shares of the semiconductor company’s stock valued at $22,937,000 after buying an additional 13,714 shares during the last quarter. Stratos Wealth Partners LTD. grew its stake in shares of Microchip Technology by 7.1% in the third quarter. Stratos Wealth Partners LTD. now owns 5,799 shares of the semiconductor company’s stock valued at $453,000 after buying an additional 383 shares in the last quarter. Finally, Brown Advisory Inc. increased its holdings in Microchip Technology by 2.1% during the third quarter. Brown Advisory Inc. now owns 104,768 shares of the semiconductor company’s stock worth $8,177,000 after buying an additional 2,201 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Price Performance

Shares of NASDAQ:MCHP traded up $1.90 during trading on Friday, reaching $91.36. 6,983,068 shares of the company traded hands, compared to its average volume of 5,300,839. The firm has a market capitalization of $49.37 billion, a PE ratio of 21.35, a PEG ratio of 2.79 and a beta of 1.60. The company’s 50 day moving average is $88.05 and its two-hundred day moving average is $85.04. Microchip Technology Incorporated has a 52 week low of $68.75 and a 52 week high of $94.63. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 0.57.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.04 by $0.04. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the firm earned $1.48 EPS. The business’s quarterly revenue was down 18.6% compared to the same quarter last year. As a group, sell-side analysts predict that Microchip Technology Incorporated will post 4.64 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Karlton D. Johnson sold 370 shares of Microchip Technology stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total value of $31,080.00. Following the transaction, the director now owns 1,789 shares in the company, valued at approximately $150,276. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, 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 value of $31,080.00. Following the sale, the director now directly owns 1,789 shares in the company, valued at approximately $150,276. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO James Eric Bjornholt sold 1,970 shares of Microchip Technology 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 directly owns 32,893 shares in the company, valued at $2,759,722.70. The disclosure for this sale can be found here. 2.07% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Evercore ISI started coverage on shares of Microchip Technology in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $106.00 price target for the company. UBS Group lowered their price target on Microchip Technology from $105.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. The Goldman Sachs Group cut their price objective on Microchip Technology from $87.00 to $77.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. Susquehanna reaffirmed a “positive” rating and set a $100.00 target price on shares of Microchip Technology in a report on Monday, April 8th. Finally, Needham & Company LLC increased 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 analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $92.75.

Microchip Technology 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.