Personal CFO Solutions LLC Has $771,000 Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Personal CFO Solutions LLC lifted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 89.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,450 shares of the semiconductor company's stock after acquiring an additional 6,361 shares during the period. Personal CFO Solutions LLC's holdings in Microchip Technology were worth $771,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MCHP. Summit Global Investments boosted its stake in Microchip Technology by 2.5% during the 3rd quarter. Summit Global Investments now owns 8,463 shares of the semiconductor company's stock valued at $679,000 after purchasing an additional 207 shares during the period. United Bank boosted its position in Microchip Technology by 21.0% during the 3rd quarter. United Bank now owns 9,871 shares of the semiconductor company's stock worth $793,000 after acquiring an additional 1,712 shares during the period. Verdence Capital Advisors LLC acquired a new position in Microchip Technology during the 3rd quarter worth $449,000. Crossmark Global Holdings Inc. grew its stake in shares of Microchip Technology by 5.3% in the third quarter. Crossmark Global Holdings Inc. now owns 331,752 shares of the semiconductor company's stock worth $26,636,000 after purchasing an additional 16,649 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in shares of Microchip Technology by 5.7% during the third quarter. Venturi Wealth Management LLC now owns 8,190 shares of the semiconductor company's stock valued at $658,000 after purchasing an additional 442 shares during the period. 91.51% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group decreased their target price on shares of Microchip Technology from $72.00 to $63.00 and set a "neutral" rating for the company in a research report on Friday, January 10th. Morgan Stanley decreased their price objective on shares of Microchip Technology from $71.00 to $58.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Piper Sandler reiterated an "overweight" rating and set a $65.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. B. Riley restated a "buy" rating and issued a $75.00 target price (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Finally, Evercore ISI lifted their price target on Microchip Technology from $65.00 to $71.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. Two investment 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's stock. According to MarketBeat.com, Microchip Technology presently has an average rating of "Moderate Buy" and a consensus target price of $74.37.

Insiders Place Their Bets

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

Microchip Technology Stock Down 0.6 %

Shares of MCHP stock traded down $0.31 during trading on Wednesday, hitting $51.93. 821,054 shares of the company were exchanged, compared to its average volume of 9,953,502. The business's 50-day simple moving average is $56.80 and its 200 day simple moving average is $66.17. Microchip Technology Incorporated has a twelve month low of $50.21 and a twelve month high of $100.57. The firm has a market capitalization of $27.93 billion, a price-to-earnings ratio of 93.06 and a beta of 1.52. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its 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, analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were paid a $0.455 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a yield of 3.50%. Microchip Technology's dividend payout ratio (DPR) is currently 325.00%.

Microchip Technology 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.