Bank of New Hampshire Reduces Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Bank of New Hampshire lowered its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 6.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,710 shares of the semiconductor company’s stock after selling 500 shares during the period. Bank of New Hampshire’s holdings in Microchip Technology were worth $373,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Mainstream Capital Management LLC purchased a new stake in shares of Microchip Technology in the 4th quarter worth about $26,000. Rakuten Securities Inc. lifted its position in shares of Microchip Technology by 309.5% in the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 359 shares during the period. OFI Invest Asset Management purchased a new stake in shares of Microchip Technology in the 4th quarter worth about $29,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Microchip Technology in the 4th quarter worth about $34,000. Finally, Millstone Evans Group LLC purchased a new stake in shares of Microchip Technology in the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $65.25 on Monday. The company has a 50 day moving average price of $49.94 and a 200-day moving average price of $54.81. Microchip Technology Incorporated has a 52 week low of $34.13 and a 52 week high of $96.98. The firm has a market capitalization of $35.20 billion, a PE ratio of 116.52 and a beta of 1.48. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. The firm had revenue of $970.50 million during the quarter, compared to analyst estimates of $962.86 million. During the same period in the previous year, the business posted $0.57 earnings per share. The business’s revenue for the quarter was down 26.8% on a year-over-year basis. As a group, equities research analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd were paid a $0.455 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.79%. Microchip Technology’s dividend payout ratio is presently -18,200.00%.

Wall Street Analysts Forecast Growth

MCHP has been the subject of a number of recent research reports. Bank of America raised shares of Microchip Technology from an “underperform” rating to a “neutral” rating and set a $56.00 price target for the company in a research report on Friday, May 9th. TD Cowen lifted their price target on shares of Microchip Technology from $35.00 to $55.00 and gave the company a “hold” rating in a research report on Friday, May 9th. Raymond James lifted their price target on shares of Microchip Technology from $60.00 to $65.00 and gave the company a “strong-buy” rating in a research report on Friday, May 9th. Stifel Nicolaus lifted their price target on shares of Microchip Technology from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Finally, Evercore ISI lifted their price target on shares of Microchip Technology from $65.00 to $71.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.68.

Insider Transactions at Microchip Technology

In related news, CFO James Eric Bjornholt sold 2,015 shares of the firm’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $55.78, for a total value of $112,396.70. Following the transaction, the chief financial officer now owns 34,313 shares of the company’s stock, valued at approximately $1,913,979.14. This trade represents a 5.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Karlton D. Johnson sold 494 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $60.69, for a total transaction of $29,980.86. Following the completion of the transaction, the director now directly owns 3,468 shares in the company, valued at approximately $210,472.92. The trade was a 12.47% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

Microchip Technology Profile

Microchip Technology Incorporated engages in the development, manufacture, and sale of 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 mixed-signal 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.