Benjamin F. Edwards & Company Inc. Acquires 1,030 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 9.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,391 shares of the semiconductor company’s stock after purchasing an additional 1,030 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Microchip Technology were worth $1,027,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Horizon Bancorp Inc. IN bought a new stake in Microchip Technology during the 4th quarter worth approximately $110,000. Rockline Wealth Management LLC bought a new stake in Microchip Technology during the 4th quarter worth about $4,449,000. 17 Capital Partners LLC acquired a new stake in Microchip Technology in the 4th quarter valued at about $1,827,000. AIA Group Ltd lifted its position in shares of Microchip Technology by 80.4% during the fourth quarter. AIA Group Ltd now owns 29,910 shares of the semiconductor company’s stock worth $2,697,000 after purchasing an additional 13,326 shares in the last quarter. Finally, GAM Holding AG grew its stake in shares of Microchip Technology by 13.9% during the fourth quarter. GAM Holding AG now owns 145,575 shares of the semiconductor company’s stock valued at $13,128,000 after purchasing an additional 17,776 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO James Eric Bjornholt sold 1,970 shares of the stock in a transaction on Friday, February 23rd. The stock was 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 approximately $2,759,722.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on MCHP. The Goldman Sachs Group decreased their price objective on Microchip Technology from $87.00 to $77.00 and set a “neutral” rating on the stock in a research report on Friday, February 2nd. Rosenblatt Securities reiterated a “buy” rating and set a $100.00 price target on shares of Microchip Technology in a research report on Tuesday, January 30th. TD Cowen boosted their price target on shares of Microchip Technology from $75.00 to $80.00 and gave the stock a “market perform” rating in a research note on Friday, February 2nd. Needham & Company LLC lifted their target price on shares of Microchip Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, UBS Group dropped their target price on shares of Microchip Technology from $105.00 to $95.00 and set a “buy” rating for the company in a research 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.75.

Microchip Technology Trading Up 2.6 %

MCHP opened at $93.76 on Tuesday. The firm’s fifty day simple moving average is $88.27 and its 200 day simple moving average is $85.25. The stock has a market capitalization of $50.67 billion, a P/E ratio of 21.91, a P/E/G ratio of 2.79 and a beta of 1.60. The company has a current ratio of 0.98, a quick ratio of 0.58 and a debt-to-equity ratio of 0.57. Microchip Technology Incorporated has a 12 month low of $68.75 and a 12 month high of $94.63.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Monday, May 6th. The semiconductor company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The company’s quarterly revenue was down 40.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.56 EPS. As a group, research analysts anticipate that Microchip Technology Incorporated will post 4.64 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd will be paid a $0.452 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.81 annualized dividend and a yield of 1.93%. Microchip Technology’s dividend payout ratio (DPR) is 42.06%.

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.