Carl P. Sherr & Co. LLC Has $1.04 Million Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Carl P. Sherr & Co. LLC lifted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 1.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,570 shares of the semiconductor company’s stock after acquiring an additional 165 shares during the period. Carl P. Sherr & Co. LLC’s holdings in Microchip Technology were worth $1,043,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Geode Capital Management LLC grew its stake in shares of Microchip Technology by 1.9% in the first quarter. Geode Capital Management LLC now owns 11,714,851 shares of the semiconductor company’s stock valued at $979,918,000 after acquiring an additional 217,223 shares in the last quarter. Northern Trust Corp lifted its position in Microchip Technology by 1.7% during the first quarter. Northern Trust Corp now owns 7,553,578 shares of the semiconductor company’s stock worth $567,576,000 after purchasing an additional 123,806 shares during the period. Norges Bank bought a new stake in Microchip Technology during the fourth quarter worth about $412,120,000. Van ECK Associates Corp lifted its position in Microchip Technology by 7.8% during the third quarter. Van ECK Associates Corp now owns 4,462,638 shares of the semiconductor company’s stock worth $348,309,000 after purchasing an additional 322,540 shares during the period. Finally, Mizuho Markets Americas LLC bought a new stake in Microchip Technology during the third quarter worth about $225,800,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MCHP has been the subject of several recent analyst reports. Susquehanna reaffirmed a “positive” rating and set a $100.00 price objective on shares of Microchip Technology in a research report on Monday, April 8th. Truist Financial cut their price objective on shares of Microchip Technology from $97.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, January 9th. UBS Group cut their price objective on shares of Microchip Technology from $105.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, February 2nd. StockNews.com cut shares of Microchip Technology from a “buy” rating to a “hold” rating in a report on Friday, December 29th. Finally, Piper Sandler cut shares of Microchip Technology from an “overweight” rating to a “neutral” rating and set a $80.00 target price for the company. in a report on Thursday, January 4th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Microchip Technology currently has a consensus rating of “Moderate Buy” and an average price target of $92.25.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 1,970 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $83.90, for a total transaction of $165,283.00. Following the completion of the sale, the chief financial officer now owns 32,893 shares of the company’s stock, valued at approximately $2,759,722.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 approximately $150,276. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO James Eric Bjornholt sold 1,970 shares of the firm’s stock in a transaction that occurred 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 sale, 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. Insiders own 2.07% of the company’s stock.

Microchip Technology Trading Up 0.3 %

NASDAQ MCHP traded up $0.29 during trading hours on Wednesday, reaching $86.22. The company’s stock had a trading volume of 593,649 shares, compared to its average volume of 5,474,323. The firm has a fifty day simple moving average of $86.55 and a 200-day simple moving average of $84.24. The stock has a market cap of $46.59 billion, a P/E ratio of 20.08, a P/E/G ratio of 2.62 and a beta of 1.65. Microchip Technology Incorporated has a 52 week low of $68.75 and a 52 week high of $94.30. 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 issued its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.77 billion. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The firm’s quarterly revenue was down 18.6% on a year-over-year basis. During the same quarter last year, the business earned $1.48 EPS. Equities analysts forecast that Microchip Technology Incorporated will post 4.64 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend was Thursday, February 22nd. This is an increase from Microchip Technology’s previous quarterly dividend of $0.44. Microchip Technology’s dividend payout ratio is currently 42.06%.

Microchip Technology Profile

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.