Monograph Wealth Advisors LLC Buys Shares of 12,000 Microchip Technology Incorporated (NASDAQ:MCHP)

Monograph Wealth Advisors LLC bought a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHPGet Rating) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 12,000 shares of the semiconductor company’s stock, valued at approximately $1,045,000.

A number of other hedge funds have also made changes to their positions in MCHP. Avity Investment Management Inc. bought a new position in shares of Microchip Technology in the fourth quarter worth approximately $226,000. Redpoint Investment Management Pty Ltd boosted its position in shares of Microchip Technology by 100.0% in the fourth quarter. Redpoint Investment Management Pty Ltd now owns 14,372 shares of the semiconductor company’s stock worth $1,251,000 after purchasing an additional 7,186 shares during the period. Studio Investment Management LLC bought a new position in shares of Microchip Technology in the third quarter worth approximately $3,476,000. HighTower Advisors LLC lifted its position in shares of Microchip Technology by 46.1% in the third quarter. HighTower Advisors LLC now owns 17,442 shares of the semiconductor company’s stock valued at $2,675,000 after acquiring an additional 5,504 shares in the last quarter. Finally, Robeco Schweiz AG lifted its position in shares of Microchip Technology by 102.3% in the fourth quarter. Robeco Schweiz AG now owns 171,565 shares of the semiconductor company’s stock valued at $14,936,000 after acquiring an additional 86,744 shares in the last quarter. 89.36% of the stock is owned by institutional investors and hedge funds.

Microchip Technology stock opened at $67.03 on Friday. The firm has a 50-day moving average price of $70.10 and a 200-day moving average price of $76.49. The firm has a market capitalization of $37.27 billion, a PE ratio of 29.59, a price-to-earnings-growth ratio of 0.60 and a beta of 1.56. The company has a current ratio of 1.75, a quick ratio of 1.18 and a debt-to-equity ratio of 1.30. Microchip Technology Incorporated has a 12-month low of $63.34 and a 12-month high of $90.00.

Microchip Technology (NASDAQ:MCHPGet Rating) last issued its quarterly earnings results on Monday, May 9th. The semiconductor company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.09. Microchip Technology had a return on equity of 41.89% and a net margin of 18.85%. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the business posted $0.82 earnings per share. The company’s revenue for the quarter was up 25.6% on a year-over-year basis. As a group, sell-side analysts predict that Microchip Technology Incorporated will post 4.93 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 3rd. Stockholders of record on Friday, May 20th will be issued a $0.276 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.65%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Thursday, May 19th. Microchip Technology’s dividend payout ratio is presently 44.59%.

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Microchip Technology from $104.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, February 4th. Stifel Nicolaus lifted their price objective on shares of Microchip Technology from $82.00 to $84.00 and gave the company a “hold” rating in a research report on Friday, February 4th. Bank of America reduced their price objective on shares of Microchip Technology from $100.00 to $92.00 and set a “buy” rating on the stock in a research report on Friday, February 4th. UBS Group lifted their price objective on shares of Microchip Technology from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, March 9th. Finally, Truist Financial cut their price objective on Microchip Technology from $94.00 to $79.00 and set a “buy” rating for the company in a research report on Friday, April 8th. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Microchip Technology presently has an average rating of “Buy” and an average target price of $93.81.

In related news, CFO James Eric Bjornholt sold 1,885 shares of the business’s stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $70.93, for a total value of $133,703.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew W. Chapman sold 1,000 shares of the stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $70.93, for a total value of $70,930.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,498 shares of company stock worth $460,903. Company insiders own 2.03% of the company’s stock.

About Microchip Technology (Get Rating)

Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit embedded microprocessors markets; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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