Potomac Fund Management Inc. ADV Purchases New Shares in Microchip Technology Incorporated (NASDAQ:MCHP)

Potomac Fund Management Inc. ADV purchased a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 12,867 shares of the semiconductor company's stock, valued at approximately $738,000.

A number of other large investors have also recently modified their holdings of MCHP. Pallas Capital Advisors LLC bought a new stake in shares of Microchip Technology in the 4th quarter valued at about $5,917,000. Consolidated Planning Corp bought a new position in Microchip Technology in the fourth quarter worth approximately $308,000. Quadrature Capital Ltd purchased a new stake in Microchip Technology during the third quarter worth $3,312,000. one8zero8 LLC bought a new stake in Microchip Technology during the 4th quarter valued at $384,000. Finally, Symphony Financial Ltd. Co. purchased a new position in shares of Microchip Technology in the 4th quarter valued at $520,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Insider Buying and Selling

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the completion of the transaction, the chief financial officer now owns 33,272 shares of the company's stock, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.10% of the stock is owned by corporate insiders.

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Microchip Technology Stock Performance

NASDAQ:MCHP traded down $4.49 during midday trading on Friday, hitting $36.22. The company's stock had a trading volume of 26,402,713 shares, compared to its average volume of 7,622,366. Microchip Technology Incorporated has a fifty-two week low of $36.10 and a fifty-two week high of $100.57. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The firm has a market cap of $19.48 billion, a P/E ratio of 64.68 and a beta of 1.51. The firm's 50 day moving average is $54.29 and its 200-day moving average is $62.76.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. Equities analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were issued a $0.455 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 5.02%. Microchip Technology's dividend payout ratio (DPR) is presently 325.00%.

Wall Street Analysts Forecast Growth

MCHP has been the subject of a number of analyst reports. Raymond James restated a "strong-buy" rating and set a $60.00 price objective (down from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. Bank of America lowered shares of Microchip Technology from a "neutral" rating to an "underperform" rating and decreased their price target for the company from $80.00 to $65.00 in a research report on Monday, December 16th. Evercore ISI lifted their price objective on shares of Microchip Technology from $65.00 to $71.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 4th. Rosenblatt Securities reissued a "buy" rating and set a $70.00 target price on shares of Microchip Technology in a research report on Tuesday, March 4th. Finally, TD Cowen lifted their price target on shares of Microchip Technology from $50.00 to $60.00 and gave the stock a "hold" rating in a report on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $74.37.

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.