Microchip Technology Incorporated (NASDAQ:MCHP) Shares Acquired by Apollon Wealth Management LLC

Apollon Wealth Management LLC increased its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 226.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,390 shares of the semiconductor company’s stock after buying an additional 16,224 shares during the period. Apollon Wealth Management LLC’s holdings in Microchip Technology were worth $2,109,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Bleakley Financial Group LLC increased its holdings in shares of Microchip Technology by 1.3% in the 4th quarter. Bleakley Financial Group LLC now owns 9,415 shares of the semiconductor company’s stock valued at $849,000 after acquiring an additional 119 shares during the last quarter. RFG Advisory LLC lifted its position in shares of Microchip Technology by 3.2% in the 4th quarter. RFG Advisory LLC now owns 3,910 shares of the semiconductor company’s stock worth $353,000 after buying an additional 123 shares during the last quarter. Twelve Points Wealth Management LLC boosted its holdings in shares of Microchip Technology by 1.0% in the 4th quarter. Twelve Points Wealth Management LLC now owns 12,229 shares of the semiconductor company’s stock valued at $1,103,000 after buying an additional 125 shares during the period. Merit Financial Group LLC grew its position in shares of Microchip Technology by 1.9% during the 3rd quarter. Merit Financial Group LLC now owns 7,096 shares of the semiconductor company’s stock valued at $554,000 after buying an additional 134 shares during the last quarter. Finally, Financial Advocates Investment Management raised its stake in Microchip Technology by 4.1% during the third quarter. Financial Advocates Investment Management now owns 3,607 shares of the semiconductor company’s stock worth $281,000 after acquiring an additional 142 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Microchip Technology

In related news, CFO James Eric Bjornholt sold 1,970 shares of Microchip Technology stock in a transaction on Friday, February 23rd. The stock was 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 in the company, valued at approximately $2,759,722.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.07% of the stock is owned by corporate insiders.

Microchip Technology Price Performance

Shares of MCHP stock traded down $1.69 during mid-day trading on Wednesday, hitting $90.37. 1,242,823 shares of the stock traded hands, compared to its average volume of 5,593,786. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 0.98. The firm has a market cap of $48.84 billion, a price-to-earnings ratio of 21.51, a price-to-earnings-growth ratio of 2.79 and a beta of 1.60. The company’s 50-day simple moving average is $88.45 and its 200-day simple moving average is $85.37. Microchip Technology Incorporated has a twelve month low of $68.75 and a twelve month high of $96.14.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Monday, May 6th. The semiconductor company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the previous year, the business earned $1.56 earnings per share. Microchip Technology’s revenue for the quarter was down 40.6% compared to the same quarter last year. As a group, equities research analysts expect that Microchip Technology Incorporated will post 4.64 earnings per share for the current year.

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd will be given a $0.452 dividend. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date is Tuesday, May 21st. This represents a $1.81 annualized dividend and a yield of 2.00%. Microchip Technology’s payout ratio is 42.06%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MCHP. Citigroup lifted their target price on Microchip Technology from $100.00 to $104.00 and gave the company a “buy” rating in a research note on Tuesday. TD Cowen upped their price objective on Microchip Technology from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Tuesday. UBS Group raised their target price on Microchip Technology from $95.00 to $103.00 and gave the company a “buy” rating in a research note on Tuesday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Microchip Technology in a report on Tuesday, January 30th. Finally, Stifel Nicolaus boosted their target price on shares of Microchip Technology from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.47.

Microchip Technology Profile

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.