Microchip Technology Incorporated (NASDAQ:MCHP) Position Increased by One Capital Management LLC

One Capital Management LLC lifted its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 388.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,413 shares of the semiconductor company’s stock after purchasing an additional 11,462 shares during the quarter. One Capital Management LLC’s holdings in Microchip Technology were worth $1,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Rise Advisors LLC purchased a new stake in shares of Microchip Technology in the first quarter worth approximately $28,000. Pineridge Advisors LLC purchased a new stake in shares of Microchip Technology in the fourth quarter worth approximately $33,000. Steph & Co. increased its holdings in Microchip Technology by 57.4% in the first quarter. Steph & Co. now owns 414 shares of the semiconductor company’s stock worth $37,000 after buying an additional 151 shares during the last quarter. Pathway Financial Advisers LLC acquired a new position in Microchip Technology in the first quarter worth approximately $39,000. Finally, Richardson Capital Management LLC acquired a new position in Microchip Technology in the first quarter worth approximately $45,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Mizuho upgraded Microchip Technology from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $115.00 in a report on Friday, May 24th. Bank of America downgraded Microchip Technology from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $110.00 to $90.00 in a report on Friday, August 2nd. Morgan Stanley downgraded Microchip Technology from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $102.00 to $100.00 in a report on Thursday, July 11th. Susquehanna dropped their price objective on Microchip Technology from $115.00 to $105.00 and set a “positive” rating on the stock in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on Microchip Technology from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $99.95.

Insider Buying and Selling

In related news, CFO James Eric Bjornholt sold 2,154 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $81.50, for a total value of $175,551.00. Following the completion of the transaction, the chief financial officer now directly owns 33,257 shares of the company’s stock, valued at $2,710,445.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.07% of the stock is owned by company insiders.

Microchip Technology Trading Down 0.8 %

Shares of Microchip Technology stock opened at $77.00 on Tuesday. The company’s fifty day simple moving average is $82.43 and its 200-day simple moving average is $88.01. The company has a market cap of $41.31 billion, a price-to-earnings ratio of 22.19 and a beta of 1.53. The company has a current ratio of 1.94, a quick ratio of 1.08 and a debt-to-equity ratio of 0.96. Microchip Technology Incorporated has a 1 year low of $68.75 and a 1 year high of $100.57.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.01. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. Microchip Technology had a net margin of 20.80% and a return on equity of 28.33%. Microchip Technology’s quarterly revenue was down 45.8% on a year-over-year basis. During the same quarter last year, the company posted $1.56 earnings per share. As a group, sell-side analysts expect that Microchip Technology Incorporated will post 1.74 EPS for the current year.

Microchip Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were given a $0.454 dividend. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend was Thursday, August 22nd. Microchip Technology’s dividend payout ratio (DPR) is 52.16%.

About Microchip Technology

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.