Mirabella Financial Services LLP Purchases Shares of 8,400 Microchip Technology Incorporated (NASDAQ:MCHP)

Mirabella Financial Services LLP acquired a new position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,400 shares of the semiconductor company's stock, valued at approximately $482,000.

Several other large investors have also modified their holdings of MCHP. Mainstream Capital Management LLC purchased a new stake in Microchip Technology in the fourth quarter valued at $26,000. Rakuten Securities Inc. boosted its stake in shares of Microchip Technology by 309.5% in the fourth quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company's stock worth $27,000 after buying an additional 359 shares during the last quarter. OFI Invest Asset Management acquired a new stake in Microchip Technology during the fourth quarter worth about $29,000. Financial Life Planners acquired a new position in Microchip Technology in the fourth quarter valued at approximately $32,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in shares of Microchip Technology during the 4th quarter valued at approximately $34,000. Institutional investors own 91.51% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MCHP. Piper Sandler reissued an "overweight" rating and set a $65.00 target price (down from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. The Goldman Sachs Group dropped their price target on shares of Microchip Technology from $72.00 to $63.00 and set a "neutral" rating on the stock in a research note on Friday, January 10th. StockNews.com cut Microchip Technology from a "hold" rating to a "sell" rating in a report on Monday, February 10th. Mizuho increased their target price on shares of Microchip Technology from $58.00 to $68.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. Finally, TD Cowen boosted their price objective on Microchip Technology from $50.00 to $60.00 and gave the stock a "hold" rating in a research note on Tuesday, March 4th. Two equities 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 given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $69.32.

Insider Activity at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of the company's stock in a transaction dated 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 $2,025,599.36. This represents a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.10% of the company's stock.

Microchip Technology Stock Down 0.5 %

Microchip Technology stock traded down $0.23 during mid-day trading on Friday, hitting $46.89. 7,676,899 shares of the company's stock were exchanged, compared to its average volume of 8,216,364. The stock has a 50 day moving average of $49.70 and a two-hundred day moving average of $58.77. Microchip Technology Incorporated has a 1-year low of $34.13 and a 1-year high of $100.57. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. The stock has a market cap of $25.22 billion, a P/E ratio of 83.73 and a beta of 1.51.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate 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 anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were issued a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology's payout ratio 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.