Callan Family Office LLC Raises Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Callan Family Office LLC lifted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 1,338.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 58,133 shares of the semiconductor company's stock after buying an additional 54,093 shares during the quarter. Callan Family Office LLC's holdings in Microchip Technology were worth $3,334,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MCHP. Pallas Capital Advisors LLC purchased a new stake in Microchip Technology in the 4th quarter valued at about $5,917,000. Consolidated Planning Corp purchased a new stake in shares of Microchip Technology in the fourth quarter valued at approximately $308,000. Quadrature Capital Ltd bought a new position in Microchip Technology in the third quarter worth approximately $3,312,000. Symphony Financial Ltd. Co. bought a new position in Microchip Technology in the fourth quarter worth approximately $520,000. Finally, Benjamin Edwards Inc. increased its holdings in Microchip Technology by 5,185.4% during the 3rd quarter. Benjamin Edwards Inc. now owns 9,408 shares of the semiconductor company's stock worth $755,000 after purchasing an additional 9,230 shares during the period. 91.51% of the stock is owned by institutional investors.

Microchip Technology Stock Performance

MCHP stock traded down $1.21 during trading on Tuesday, reaching $52.24. The company had a trading volume of 9,099,270 shares, compared to its average volume of 10,158,595. The company has a market cap of $28.10 billion, a price-to-earnings ratio of 93.29 and a beta of 1.52. Microchip Technology Incorporated has a twelve month low of $50.21 and a twelve month high of $100.57. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. The firm has a 50-day simple moving average of $56.90 and a 200-day simple moving average of $66.38.

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Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) 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 expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 3.48%. The ex-dividend date was Monday, February 24th. Microchip Technology's payout ratio is 325.00%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on MCHP shares. Mizuho upped their target price on Microchip Technology from $58.00 to $68.00 and gave the stock an "outperform" rating in a report on Tuesday, March 4th. Raymond James reaffirmed a "strong-buy" rating and issued a $60.00 price objective (down from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. KeyCorp cut their target price on shares of Microchip Technology from $70.00 to $60.00 and set an "overweight" rating on the stock in a research report on Friday, February 7th. Needham & Company LLC upped their price target on shares of Microchip Technology from $60.00 to $66.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Finally, StockNews.com downgraded shares of Microchip Technology from a "hold" rating to a "sell" rating in a research note on Monday, February 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Microchip Technology presently has a consensus rating of "Moderate Buy" and an average target price of $74.37.

Insider Activity

In other news, CFO James Eric Bjornholt sold 3,724 shares of the business's stock in a transaction dated Tuesday, February 25th. The stock was 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 $2,025,599.36. The trade was a 10.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.10% of the company's stock.

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.