12,867 Shares in Microchip Technology Incorporated (NASDAQ:MCHP) Bought by Potomac Fund Management Inc. ADV

Potomac Fund Management Inc. ADV bought a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,867 shares of the semiconductor company’s stock, valued at approximately $738,000.

Other hedge funds also recently bought and sold shares of the company. Mainstream Capital Management LLC bought a new stake in shares of Microchip Technology in the 4th quarter valued at approximately $26,000. Rakuten Securities Inc. lifted its stake in Microchip Technology by 309.5% in the fourth quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 359 shares during the last quarter. OFI Invest Asset Management acquired a new stake in Microchip Technology in the fourth quarter valued at approximately $29,000. Financial Life Planners bought a new stake in Microchip Technology in the fourth quarter worth approximately $32,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Microchip Technology during the 4th quarter worth $34,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the transaction, the chief financial officer now directly owns 33,272 shares in the company, valued at $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.10% of the company’s stock.

Microchip Technology Trading Up 0.2 %

Shares of Microchip Technology stock opened at $48.50 on Wednesday. Microchip Technology Incorporated has a 52-week low of $47.21 and a 52-week high of $100.57. The firm has a market capitalization of $26.08 billion, a PE ratio of 86.61 and a beta of 1.52. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The company’s fifty day moving average price is $55.26 and its two-hundred day moving average price is $63.40.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. On average, analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were paid a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 3.75%. The ex-dividend date was Monday, February 24th. Microchip Technology’s dividend payout ratio is 325.00%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MCHP shares. Needham & Company LLC upped their price objective on shares of Microchip Technology from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Evercore ISI upped their price target on Microchip Technology from $65.00 to $71.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 4th. Mizuho raised their price objective on Microchip Technology from $58.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Bank of America cut Microchip Technology from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $80.00 to $65.00 in a research report on Monday, December 16th. Finally, KeyCorp dropped their price target on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $74.37.

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.