Microchip Technology Incorporated (MCHP) Shares Bought by Sigma Planning Corp
Sigma Planning Corp boosted its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 33.3% during the second quarter, Holdings Channel reports. The firm owned 5,415 shares of the semiconductor company’s stock after buying an additional 1,352 shares during the period. Sigma Planning Corp’s holdings in Microchip Technology were worth $418,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Smithfield Trust Co. raised its stake in shares of Microchip Technology by 0.4% in the second quarter. Smithfield Trust Co. now owns 1,626 shares of the semiconductor company’s stock valued at $126,000 after buying an additional 7 shares during the period. Keel Point LLC raised its stake in Microchip Technology by 0.3% in the first quarter. Keel Point LLC now owns 3,575 shares of the semiconductor company’s stock worth $264,000 after buying an additional 11 shares during the last quarter. Nicolet Bankshares Inc. raised its stake in Microchip Technology by 0.3% in the second quarter. Nicolet Bankshares Inc. now owns 3,641 shares of the semiconductor company’s stock worth $281,000 after buying an additional 11 shares during the last quarter. Mission Wealth Management LLC raised its stake in Microchip Technology by 0.7% in the first quarter. Mission Wealth Management LLC now owns 3,616 shares of the semiconductor company’s stock worth $267,000 after buying an additional 26 shares during the last quarter. Finally, Cleararc Capital Inc. raised its stake in Microchip Technology by 0.8% in the first quarter. Cleararc Capital Inc. now owns 5,295 shares of the semiconductor company’s stock worth $391,000 after buying an additional 43 shares during the last quarter. 98.67% of the stock is currently owned by institutional investors and hedge funds.
Shares of Microchip Technology Incorporated (MCHP) opened at 84.29 on Wednesday. Microchip Technology Incorporated has a one year low of $57.52 and a one year high of $87.49. The firm has a market capitalization of $19.62 billion, a P/E ratio of 45.41 and a beta of 1.06. The company has a 50-day moving average price of $80.70 and a 200 day moving average price of $77.18.
Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.17. The business had revenue of $972.10 million for the quarter, compared to the consensus estimate of $944.87 million. Microchip Technology had a net margin of 12.53% and a return on equity of 34.33%. Microchip Technology’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 EPS. Analysts expect that Microchip Technology Incorporated will post $5.27 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Monday, August 21st will be issued a dividend of $0.362 per share. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $1.45 dividend on an annualized basis and a dividend yield of 1.72%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s dividend payout ratio (DPR) is currently 77.54%.
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A number of equities research analysts recently issued reports on MCHP shares. ValuEngine lowered Microchip Technology from a “buy” rating to a “hold” rating in a research note on Thursday, June 1st. Jefferies Group LLC reaffirmed a “buy” rating on shares of Microchip Technology in a research note on Monday, July 10th. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $100.00 target price on shares of Microchip Technology in a research note on Wednesday, May 10th. Citigroup Inc. set a $95.00 target price on Microchip Technology and gave the company a “buy” rating in a research note on Wednesday, May 10th. Finally, Stifel Nicolaus upped their target price on Microchip Technology from $83.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, May 10th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Microchip Technology presently has a consensus rating of “Buy” and an average target price of $88.80.
In other news, VP Stephen V. Drehobl sold 3,974 shares of the firm’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $80.29, for a total transaction of $319,072.46. Following the transaction, the vice president now owns 14,263 shares in the company, valued at approximately $1,145,176.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wade F. Meyercord sold 1,300 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $83.95, for a total transaction of $109,135.00. The disclosure for this sale can be found here. Insiders have sold a total of 7,784 shares of company stock worth $629,735 in the last 90 days. 2.13% of the stock is owned by insiders.
Microchip Technology Company Profile
Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The Company operates through two segments: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, manufactures and markets microcontrollers, development tools and analog, interface, mixed signal and timing products.
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