Microchip Technology Incorporated (NASDAQ:MCHP) Shares Purchased by Alley Investment Management Company LLC

Alley Investment Management Company LLC lifted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 185,306 shares of the semiconductor company's stock after purchasing an additional 12,398 shares during the period. Alley Investment Management Company LLC's holdings in Microchip Technology were worth $10,627,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of MCHP. Metis Global Partners LLC raised its holdings in shares of Microchip Technology by 1.0% in the 3rd quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company's stock valued at $1,378,000 after buying an additional 172 shares during the period. Plato Investment Management Ltd boosted its holdings in Microchip Technology by 5.8% during the 3rd quarter. Plato Investment Management Ltd now owns 3,499 shares of the semiconductor company's stock valued at $281,000 after acquiring an additional 191 shares during the period. Summit Global Investments grew its position in Microchip Technology by 2.5% in the 3rd quarter. Summit Global Investments now owns 8,463 shares of the semiconductor company's stock valued at $679,000 after acquiring an additional 207 shares in the last quarter. Apollon Wealth Management LLC increased its stake in Microchip Technology by 0.8% during the third quarter. Apollon Wealth Management LLC now owns 26,475 shares of the semiconductor company's stock worth $2,126,000 after purchasing an additional 218 shares during the period. Finally, Empower Advisory Group LLC lifted its position in shares of Microchip Technology by 7.3% during the third quarter. Empower Advisory Group LLC now owns 3,470 shares of the semiconductor company's stock worth $279,000 after purchasing an additional 237 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Insider Transactions at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the transaction, the chief financial officer now directly owns 33,272 shares of the company's stock, valued at approximately $2,025,599.36. This represents a 10.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Needham & Company LLC increased their target price on shares of Microchip Technology from $60.00 to $66.00 and gave the stock a "buy" rating in a report on Tuesday. Mizuho increased their price objective on Microchip Technology from $58.00 to $68.00 and gave the company an "outperform" rating in a research note on Tuesday. Evercore ISI boosted their target price on Microchip Technology from $65.00 to $71.00 and gave the stock an "outperform" rating in a research note on Tuesday. Susquehanna decreased their price objective on Microchip Technology from $95.00 to $90.00 and set a "positive" rating for the company in a research note on Wednesday, November 6th. Finally, B. Riley restated a "buy" rating and set a $75.00 target price (down from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $74.37.

Microchip Technology Stock Performance

Shares of NASDAQ:MCHP traded up $1.52 on Wednesday, reaching $59.66. The company's stock had a trading volume of 5,271,490 shares, compared to its average volume of 9,975,823. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. Microchip Technology Incorporated has a 52-week low of $50.21 and a 52-week high of $100.57. The stock's 50-day moving average is $56.93 and its two-hundred day moving average is $67.04. The stock has a market capitalization of $32.08 billion, a P/E ratio of 106.53 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted 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%. As a group, sell-side analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Monday, February 24th will be given a dividend of $0.455 per share. The ex-dividend date is Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a yield of 3.05%. Microchip Technology's payout ratio is currently 325.00%.

About Microchip Technology

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.