Mount Yale Investment Advisors LLC Increases Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Mount Yale Investment Advisors LLC raised its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 17.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,919 shares of the semiconductor company’s stock after purchasing an additional 3,569 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Microchip Technology were worth $2,146,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Bleakley Financial Group LLC boosted its position in shares of Microchip Technology by 1.3% during the fourth quarter. Bleakley Financial Group LLC now owns 9,415 shares of the semiconductor company’s stock valued at $849,000 after purchasing an additional 119 shares in the last quarter. Financial Counselors Inc. boosted its holdings in shares of Microchip Technology by 1.1% during the 1st quarter. Financial Counselors Inc. now owns 10,689 shares of the semiconductor company’s stock valued at $959,000 after buying an additional 119 shares in the last quarter. RFG Advisory LLC grew its position in shares of Microchip Technology by 3.2% in the 4th quarter. RFG Advisory LLC now owns 3,910 shares of the semiconductor company’s stock worth $353,000 after buying an additional 123 shares during the period. Meridian Wealth Management LLC increased its stake in shares of Microchip Technology by 5.1% in the 1st quarter. Meridian Wealth Management LLC now owns 2,810 shares of the semiconductor company’s stock worth $252,000 after acquiring an additional 137 shares in the last quarter. Finally, Horizon Bancorp Inc. IN lifted its position in Microchip Technology by 11.8% during the 1st quarter. Horizon Bancorp Inc. IN now owns 1,370 shares of the semiconductor company’s stock valued at $123,000 after acquiring an additional 145 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Stock Performance

Microchip Technology stock traded up $1.13 during mid-day trading on Monday, reaching $87.96. 4,525,310 shares of the stock traded hands, compared to its average volume of 5,773,732. The stock has a market capitalization of $47.19 billion, a PE ratio of 25.22 and a beta of 1.54. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.20 and a quick ratio of 0.67. The business’s 50-day moving average is $92.96 and its 200-day moving average is $89.48. Microchip Technology Incorporated has a 12-month low of $68.75 and a 12-month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Monday, May 6th. The semiconductor company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Microchip Technology had a net margin of 24.98% and a return on equity of 36.78%. The business’s quarterly revenue was down 40.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.56 EPS. As a group, sell-side analysts predict that Microchip Technology Incorporated will post 2.35 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were issued a $0.452 dividend. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.81 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Tuesday, May 21st. Microchip Technology’s dividend payout ratio (DPR) is currently 52.16%.

Insider Activity

In other Microchip Technology news, VP Stephen V. Drehobl sold 7,830 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $95.06, for a total value of $744,319.80. Following the completion of the sale, the vice president now owns 79,509 shares in the company, valued at approximately $7,558,125.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Microchip Technology news, VP Stephen V. Drehobl sold 10,000 shares of Microchip Technology stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $90.88, for a total value of $908,800.00. Following the sale, the vice president now directly owns 82,203 shares in the company, valued at approximately $7,470,608.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Stephen V. Drehobl sold 7,830 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $95.06, for a total value of $744,319.80. Following the completion of the sale, the vice president now owns 79,509 shares in the company, valued at $7,558,125.54. The disclosure for this sale can be found here. Insiders have sold a total of 23,993 shares of company stock valued at $2,251,857 in the last ninety days. Corporate insiders own 2.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on MCHP. KeyCorp raised their target price on shares of Microchip Technology from $90.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Truist Financial raised their price objective on Microchip Technology from $93.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Citigroup boosted their target price on Microchip Technology from $100.00 to $104.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Needham & Company LLC raised their price target on Microchip Technology from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Finally, TD Cowen lifted their price target on Microchip Technology from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Tuesday, May 7th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Microchip Technology presently has an average rating of “Moderate Buy” and an average price target of $102.17.

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.