Microchip Technology Incorporated (NASDAQ:MCHP) Shares Purchased by MML Investors Services LLC

MML Investors Services LLC boosted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 16.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 294,563 shares of the semiconductor company's stock after buying an additional 41,087 shares during the quarter. MML Investors Services LLC owned approximately 0.05% of Microchip Technology worth $16,893,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Mainstream Capital Management LLC purchased a new position in Microchip Technology during the 4th quarter worth $26,000. Rakuten Securities Inc. lifted its stake in 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 acquiring an additional 359 shares during the period. OFI Invest Asset Management purchased a new position in Microchip Technology during the 4th quarter valued at about $29,000. Financial Life Planners bought a new stake in shares of Microchip Technology in the 4th quarter valued at about $32,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in shares of Microchip Technology during the fourth quarter valued at approximately $34,000. 91.51% of the stock is currently owned by institutional investors.

Insider Activity at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the firm's stock in a transaction 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 sale, the chief financial officer now owns 33,272 shares of the company's stock, valued at $2,025,599.36. This trade represents a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is currently owned by insiders.

Microchip Technology Price Performance

Shares of MCHP stock traded down $0.23 during trading hours on Friday, hitting $46.89. 7,677,163 shares of the company's stock were exchanged, compared to its average volume of 8,216,367. The firm has a 50 day moving average of $49.70 and a two-hundred day moving average of $58.77. Microchip Technology Incorporated has a fifty-two week low of $34.13 and a fifty-two week high of $100.57. The firm has a market cap of $25.22 billion, a P/E ratio of 83.73 and a beta of 1.51. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings results 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 net margin of 6.49% and a return on equity of 12.62%. Sell-side analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were issued a dividend of $0.455 per share. The ex-dividend date was Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 3.88%. Microchip Technology's dividend payout ratio is presently 325.00%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MCHP shares. Needham & Company LLC lifted their price target on Microchip Technology from $60.00 to $66.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Truist Financial cut their price objective on shares of Microchip Technology from $56.00 to $43.00 and set a "hold" rating on the stock in a research report on Monday. Evercore ISI lifted their price target on shares of Microchip Technology from $65.00 to $71.00 and gave the stock an "outperform" rating in a report on Tuesday, March 4th. Citigroup lowered their price objective on Microchip Technology from $65.00 to $50.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Finally, TD Cowen boosted their price target 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 given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $69.32.

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.