United Asset Strategies Inc. Acquires 789 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

United Asset Strategies Inc. boosted its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 9.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,965 shares of the semiconductor company’s stock after buying an additional 789 shares during the quarter. United Asset Strategies Inc.’s holdings in Microchip Technology were worth $809,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Horizon Bancorp Inc. IN purchased a new position in Microchip Technology in the fourth quarter worth $110,000. Rockline Wealth Management LLC purchased a new stake in Microchip Technology in the fourth quarter valued at about $4,449,000. 17 Capital Partners LLC acquired a new stake in Microchip Technology in the fourth quarter worth about $1,827,000. GAM Holding AG grew its stake in shares of Microchip Technology by 13.9% during the fourth quarter. GAM Holding AG now owns 145,575 shares of the semiconductor company’s stock worth $13,128,000 after acquiring an additional 17,776 shares during the last quarter. Finally, iA Global Asset Management Inc. increased its holdings in shares of Microchip Technology by 26.5% during the third quarter. iA Global Asset Management Inc. now owns 81,124 shares of the semiconductor company’s stock valued at $6,332,000 after acquiring an additional 16,984 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Activity at Microchip Technology

In related news, Director Karlton D. Johnson sold 370 shares of Microchip Technology stock in a transaction that occurred 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 sale, the director now directly owns 1,789 shares in the company, valued at $150,276. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Microchip Technology news, Director Karlton D. Johnson sold 370 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total transaction of $31,080.00. Following the transaction, the director now directly owns 1,789 shares in the company, valued at $150,276. The sale 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 the 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 completion of the transaction, the chief financial officer now directly 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 owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. UBS Group cut their price objective on Microchip Technology from $105.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, February 2nd. Susquehanna restated a “positive” rating and set a $100.00 price objective on shares of Microchip Technology in a research note on Monday, April 8th. Stifel Nicolaus reiterated a “buy” rating and issued a $94.00 price objective on shares of Microchip Technology in a research note on Thursday, March 14th. Evercore ISI initiated coverage on shares of Microchip Technology in a research report on Tuesday. They set an “outperform” rating and a $106.00 target price for the company. Finally, The Goldman Sachs Group cut their price target 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. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Microchip Technology has an average rating of “Moderate Buy” and an average target price of $92.25.

Microchip Technology Price Performance

Shares of NASDAQ 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 P/E ratio of 20.08, a P/E/G ratio of 2.62 and a beta of 1.65. The stock has a 50 day moving average of $86.55 and a two-hundred day moving average of $84.24. Microchip Technology Incorporated has a twelve month low of $68.75 and a twelve month high of $94.30.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 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 analysts’ expectations of $1.77 billion. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The business’s revenue was down 18.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.48 earnings per share. On average, research analysts forecast that Microchip Technology Incorporated will post 4.64 earnings per share for the current year.

Microchip Technology Increases Dividend

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