Microchip Technology Incorporated (NASDAQ:MCHP) Shares Purchased by WoodTrust Financial Corp

WoodTrust Financial Corp increased its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHPFree Report) by 3.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 61,033 shares of the semiconductor company’s stock after purchasing an additional 1,958 shares during the period. WoodTrust Financial Corp’s holdings in Microchip Technology were worth $5,504,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCHP. Panagora Asset Management Inc. lifted its position in Microchip Technology by 31.8% during the 1st quarter. Panagora Asset Management Inc. now owns 21,731 shares of the semiconductor company’s stock worth $1,633,000 after acquiring an additional 5,237 shares in the last quarter. Cibc World Market Inc. lifted its position in Microchip Technology by 292.9% during the 1st quarter. Cibc World Market Inc. now owns 44,324 shares of the semiconductor company’s stock worth $3,331,000 after acquiring an additional 33,044 shares in the last quarter. Vontobel Holding Ltd. lifted its position in Microchip Technology by 4.1% during the 1st quarter. Vontobel Holding Ltd. now owns 29,572 shares of the semiconductor company’s stock worth $2,259,000 after acquiring an additional 1,159 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Microchip Technology by 34.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,455 shares of the semiconductor company’s stock worth $335,000 after acquiring an additional 1,133 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its position in shares of Microchip Technology by 1,272.4% in the 1st quarter. Loomis Sayles & Co. L P now owns 326,717 shares of the semiconductor company’s stock valued at $24,550,000 after purchasing an additional 302,910 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO James Eric Bjornholt sold 1,970 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total transaction of $165,283.00. Following the completion of the transaction, the chief financial officer now directly owns 32,893 shares in the company, valued at approximately $2,759,722.70. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Karlton D. Johnson sold 370 shares of the stock in a transaction on Tuesday, February 6th. The stock was 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 owns 1,789 shares of the company’s stock, valued at $150,276. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO James Eric Bjornholt sold 1,970 shares of the stock in a transaction on Friday, February 23rd. The stock was 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 directly owns 32,893 shares of the company’s stock, valued at approximately $2,759,722.70. The disclosure for this sale can be found here. 2.07% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on MCHP. Susquehanna cut their target price on Microchip Technology from $105.00 to $100.00 and set a “positive” rating on the stock in a research report on Friday, February 2nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $94.00 target price on shares of Microchip Technology in a research report on Thursday, March 14th. StockNews.com lowered Microchip Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 29th. The Goldman Sachs Group cut their target price on Microchip Technology from $87.00 to $77.00 and set a “neutral” rating on the stock in a research report on Friday, February 2nd. Finally, UBS Group cut their target price on Microchip Technology from $105.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $91.33.

View Our Latest Report on MCHP

Microchip Technology Stock Performance

Shares of MCHP stock traded up $0.17 on Wednesday, hitting $88.15. 1,400,497 shares of the stock traded hands, compared to its average volume of 5,652,387. The company has a market capitalization of $47.64 billion, a PE ratio of 20.76, a PEG ratio of 2.74 and a beta of 1.65. The company’s fifty day moving average is $86.28 and its 200 day moving average is $83.50. 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 Incorporated has a 1-year low of $68.75 and a 1-year high of $94.30.

Microchip Technology (NASDAQ:MCHPGet Free Report) last issued its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The firm’s revenue was down 18.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.48 EPS. On average, equities research analysts predict that Microchip Technology Incorporated will post 4.64 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were paid a dividend of $0.45 per share. This is an increase from Microchip Technology’s previous quarterly dividend of $0.44. This represents a $1.80 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend was Thursday, February 22nd. Microchip Technology’s dividend payout ratio is presently 42.06%.

Microchip Technology Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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