Keel Point LLC Has $309,000 Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Keel Point LLC boosted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 6.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,427 shares of the semiconductor company’s stock after buying an additional 214 shares during the period. Keel Point LLC’s holdings in Microchip Technology were worth $309,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MCHP. Bleakley Financial Group LLC lifted its holdings in shares of Microchip Technology by 1.3% during the 4th quarter. Bleakley Financial Group LLC now owns 9,415 shares of the semiconductor company’s stock valued at $849,000 after buying an additional 119 shares during the last quarter. Aspire Private Capital LLC lifted its position in Microchip Technology by 3.2% during the 4th quarter. Aspire Private Capital LLC now owns 3,904 shares of the semiconductor company’s stock worth $274,266,959,000 after acquiring an additional 120 shares during the last quarter. RFG Advisory LLC boosted its holdings in Microchip Technology by 3.2% during the fourth quarter. RFG Advisory LLC now owns 3,910 shares of the semiconductor company’s stock valued at $353,000 after acquiring an additional 123 shares during the period. Twelve Points Wealth Management LLC grew its position in shares of Microchip Technology by 1.0% in the fourth quarter. Twelve Points Wealth Management LLC now owns 12,229 shares of the semiconductor company’s stock valued at $1,103,000 after purchasing an additional 125 shares during the last quarter. Finally, Merit Financial Group LLC lifted its position in shares of Microchip Technology by 1.9% during the 3rd quarter. Merit Financial Group LLC now owns 7,096 shares of the semiconductor company’s stock worth $554,000 after purchasing an additional 134 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Microchip Technology

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

Wall Street Analysts Forecast Growth

MCHP has been the topic of several recent analyst reports. TD Cowen lifted their price target on Microchip Technology from $75.00 to $80.00 and gave the stock a “market perform” rating in a research report on Friday, February 2nd. UBS Group dropped their target price on shares of Microchip Technology from $105.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. Needham & Company LLC increased their price target on shares of Microchip Technology from $85.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Stifel Nicolaus restated a “buy” rating and set a $94.00 price objective on shares of Microchip Technology in a report on Thursday, March 14th. Finally, Wolfe Research upgraded shares of Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 target price for the company in a research note on Thursday, January 18th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Microchip Technology has an average rating of “Moderate Buy” and an average target price of $92.25.

Microchip Technology Trading Up 0.3 %

Shares of MCHP opened at $85.93 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.58 and a debt-to-equity ratio of 0.57. The stock has a market cap of $46.44 billion, a PE ratio of 20.08, a PEG ratio of 2.62 and a beta of 1.65. Microchip Technology Incorporated has a 1 year low of $68.75 and a 1 year high of $94.30. The stock has a 50 day simple moving average of $86.55 and a 200-day simple moving average of $84.24.

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 return on equity of 45.59% and a net margin of 27.59%. 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 prior year, the business posted $1.48 earnings per share. The business’s revenue was down 18.6% compared to the same quarter last year. On average, sell-side analysts predict that Microchip Technology Incorporated will post 4.64 EPS for the current fiscal year.

Microchip Technology Increases Dividend

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

Microchip Technology Company 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.