11,126 Shares in Microchip Technology Incorporated (NASDAQ:MCHP) Purchased by RD Lewis Holdings Inc.

RD Lewis Holdings Inc. purchased a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,126 shares of the semiconductor company's stock, valued at approximately $638,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pallas Capital Advisors LLC bought a new position in Microchip Technology in the fourth quarter valued at approximately $5,917,000. Consolidated Planning Corp bought a new position in 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 valued at approximately $3,312,000. Symphony Financial Ltd. Co. bought a new position in Microchip Technology in the fourth quarter valued at approximately $520,000. Finally, one8zero8 LLC bought a new position in Microchip Technology in the fourth quarter valued at approximately $384,000. 91.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MCHP. Rosenblatt Securities reaffirmed a "buy" rating and issued a $70.00 price objective on shares of Microchip Technology in a research note on Tuesday, March 4th. Stifel Nicolaus cut their target price on shares of Microchip Technology from $90.00 to $87.00 and set a "buy" rating on the stock in a report on Tuesday, December 3rd. StockNews.com lowered shares of Microchip Technology from a "hold" rating to a "sell" rating in a report on Monday, February 10th. The Goldman Sachs Group cut their target price on shares of Microchip Technology from $72.00 to $63.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $65.00 target price (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $74.37.

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Microchip Technology Stock Up 1.4 %

Microchip Technology stock traded up $0.72 during mid-day trading on Friday, reaching $51.72. The company's stock had a trading volume of 29,769,902 shares, compared to its average volume of 7,001,750. The company has a market capitalization of $27.82 billion, a price-to-earnings ratio of 92.36 and a beta of 1.52. Microchip Technology Incorporated has a 12 month low of $49.92 and a 12 month high of $100.57. The business's 50 day simple moving average is $56.17 and its 200 day simple moving average is $64.82. 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 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%. As a group, research analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology's dividend payout ratio (DPR) is presently 325.00%.

Insider Activity

In other news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction dated Tuesday, February 25th. The shares were 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. This trade represents a 10.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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.