Microchip Technology Incorporated (NASDAQ:MCHP) Shares Acquired by Syon Capital LLC

Syon Capital LLC increased its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 45.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 5,757 shares of the semiconductor company’s stock after acquiring an additional 1,803 shares during the quarter. Syon Capital LLC’s holdings in Microchip Technology were worth $519,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BKM Wealth Management LLC purchased a new stake in shares of Microchip Technology in the fourth quarter valued at about $27,000. Rakuten Securities Inc. acquired a new position in shares of Microchip Technology in the fourth quarter worth $27,000. Fortitude Family Office LLC purchased a new stake in shares of Microchip Technology in the fourth quarter valued at $29,000. OFI Invest Asset Management acquired a new stake in shares of Microchip Technology during the third quarter valued at $26,000. Finally, Milestone Investment Advisors LLC acquired a new stake in shares of Microchip Technology during the third quarter valued at $36,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Stock Performance

NASDAQ MCHP opened at $93.60 on Friday. The business’s 50-day simple moving average is $87.24 and its 200-day simple moving average is $84.65. The firm has a market capitalization of $50.58 billion, a P/E ratio of 21.87, a P/E/G ratio of 2.81 and a beta of 1.65. Microchip Technology Incorporated has a 1-year low of $68.75 and a 1-year high of $94.63. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.58.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the company posted $1.48 earnings per share. Microchip Technology’s revenue was down 18.6% compared to the same quarter last year. Equities analysts predict that Microchip Technology Incorporated will post 4.64 EPS for the current year.

Microchip Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.92%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 22nd. Microchip Technology’s dividend payout ratio (DPR) is presently 42.06%.

Insider Buying and Selling

In other news, Director Karlton D. Johnson sold 370 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total transaction of $31,080.00. Following the completion of the sale, the director now owns 1,789 shares of the company’s stock, valued at $150,276. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Karlton D. Johnson sold 370 shares of Microchip Technology stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total value of $31,080.00. Following the completion of the transaction, the director now directly owns 1,789 shares of the company’s stock, valued at approximately $150,276. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO James Eric Bjornholt sold 1,970 shares of Microchip Technology stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $83.90, for a total value of $165,283.00. Following the completion of the transaction, the chief financial officer now owns 32,893 shares of the company’s stock, valued at $2,759,722.70. The disclosure for this sale can be found here. 2.07% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MCHP. TD Cowen boosted their target price on shares of Microchip Technology from $75.00 to $80.00 and gave the company a “market perform” rating in a research note on Friday, February 2nd. Needham & Company LLC upped their price objective on shares of Microchip Technology from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Evercore ISI began coverage on shares of Microchip Technology in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $106.00 target price for the company. StockNews.com downgraded Microchip Technology from a “buy” rating to a “hold” rating in a report on Friday, December 29th. Finally, Wolfe Research upgraded Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 price objective on the stock in a report on Thursday, January 18th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $92.50.

About Microchip Technology

Microchip Technology Incorporated develops, manufactures, and sells 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 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.