Bryn Mawr Capital Management LLC Boosts Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Bryn Mawr Capital Management LLC lifted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 11.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,392 shares of the semiconductor company’s stock after buying an additional 2,398 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Microchip Technology were worth $2,109,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. OFI Invest Asset Management acquired a new stake in Microchip Technology during the third quarter worth about $26,000. BKM Wealth Management LLC acquired a new stake in Microchip Technology during the fourth quarter worth about $27,000. Rakuten Securities Inc. acquired a new stake in Microchip Technology during the fourth quarter worth about $27,000. Fortitude Family Office LLC acquired a new stake in Microchip Technology during the fourth quarter worth about $29,000. Finally, Milestone Investment Advisors LLC acquired a new stake in Microchip Technology during the third quarter worth about $36,000. 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 business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $83.90, for a total value of $165,283.00. Following the transaction, the chief financial officer now directly owns 32,893 shares of the company’s stock, valued at approximately $2,759,722.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Karlton D. Johnson sold 370 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 1,789 shares of the company’s stock, valued at approximately $150,276. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO James Eric Bjornholt sold 1,970 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 32,893 shares in the company, valued at $2,759,722.70. The disclosure for this sale can be found here. 2.07% of the stock is currently owned by corporate insiders.

Microchip Technology Stock Up 1.5 %

Shares of NASDAQ:MCHP traded up $1.39 during trading on Friday, hitting $93.60. 5,620,228 shares of the company were exchanged, compared to its average volume of 5,559,520. The stock has a market capitalization of $50.58 billion, a P/E ratio of 21.87, a PEG ratio of 2.77 and a beta of 1.65. 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 Incorporated has a 12-month low of $68.75 and a 12-month high of $94.63. The firm’s 50 day moving average price is $87.24 and its 200-day moving average price is $84.65.

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 for 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 company’s quarterly revenue was down 18.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.48 EPS. On average, research analysts predict that Microchip Technology Incorporated will post 4.64 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were paid a $0.45 dividend. This is a boost from Microchip Technology’s previous quarterly dividend of $0.44. This represents a $1.80 annualized dividend and a yield of 1.92%. The ex-dividend date was Thursday, February 22nd. Microchip Technology’s payout ratio is currently 42.06%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wolfe Research upgraded shares of Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 price target for the company in a research report on Thursday, January 18th. Susquehanna reiterated a “positive” rating and set a $100.00 price target on shares of Microchip Technology in a research report on Monday, April 8th. Piper Sandler cut shares of Microchip Technology from an “overweight” rating to a “neutral” rating and set a $80.00 price target for the company. in a research report on Thursday, January 4th. UBS Group dropped their price target 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. Finally, StockNews.com cut shares of Microchip Technology from a “buy” rating to a “hold” rating in a report on Friday, December 29th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Microchip Technology currently has an average rating of “Moderate Buy” and an average target price of $92.50.

About Microchip Technology

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.