Signaturefd LLC Has $839,000 Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Signaturefd LLC lessened its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 9.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,446 shares of the semiconductor company’s stock after selling 1,154 shares during the quarter. Signaturefd LLC’s holdings in Microchip Technology were worth $839,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wealthcare Advisory Partners LLC raised its stake in shares of Microchip Technology by 15.0% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 2,704 shares of the semiconductor company’s stock worth $243,000 after purchasing an additional 352 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Microchip Technology by 1.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 295,427 shares of the semiconductor company’s stock valued at $26,503,000 after acquiring an additional 4,734 shares in the last quarter. Hennessy Advisors Inc. lifted its stake in Microchip Technology by 2,194.5% in the first quarter. Hennessy Advisors Inc. now owns 33,454 shares of the semiconductor company’s stock valued at $3,001,000 after acquiring an additional 31,996 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its position in Microchip Technology by 7.9% in the first quarter. Fifth Third Wealth Advisors LLC now owns 4,101 shares of the semiconductor company’s stock worth $368,000 after acquiring an additional 299 shares in the last quarter. Finally, Indiana Trust & Investment Management CO increased its stake in shares of Microchip Technology by 18.4% during the 1st quarter. Indiana Trust & Investment Management CO now owns 999 shares of the semiconductor company’s stock worth $90,000 after purchasing an additional 155 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,154 shares of the business’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 transaction, the chief financial officer now owns 33,257 shares of the company’s stock, valued at approximately $2,710,445.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.07% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on MCHP shares. B. Riley lowered their target price on shares of Microchip Technology from $110.00 to $103.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. TD Cowen cut their price objective on Microchip Technology from $90.00 to $80.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Morgan Stanley cut Microchip Technology from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $102.00 to $100.00 in a research report on Thursday, July 11th. Truist Financial lowered shares of Microchip Technology from a “buy” rating to a “hold” rating and dropped their price target for the company from $89.00 to $80.00 in a research report on Monday, September 23rd. Finally, Mizuho set a $95.00 price objective on shares of Microchip Technology in a report on Friday, October 18th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $97.89.

Microchip Technology Price Performance

Shares of MCHP stock opened at $75.86 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.94 and a quick ratio of 1.08. The stock’s fifty day simple moving average is $78.13 and its 200 day simple moving average is $85.90. Microchip Technology Incorporated has a one year low of $68.75 and a one year high of $100.57. The firm has a market cap of $40.70 billion, a price-to-earnings ratio of 21.86 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, August 1st. The semiconductor company reported $0.53 earnings per share 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 analyst estimates of $1.24 billion. Microchip Technology had a net margin of 20.80% and a return on equity of 28.33%. The firm’s quarterly revenue was down 45.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.56 EPS. On average, analysts expect that Microchip Technology Incorporated will post 1.73 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were issued a $0.454 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a dividend yield of 2.39%. The ex-dividend date was Thursday, August 22nd. Microchip Technology’s payout ratio is presently 52.16%.

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.