Microchip Technology Incorporated (NASDAQ:MCHP) Shares Bought by Williams Jones Wealth Management LLC.

Williams Jones Wealth Management LLC. lifted its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 4.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 249,411 shares of the semiconductor company’s stock after purchasing an additional 10,917 shares during the quarter. Williams Jones Wealth Management LLC.’s holdings in Microchip Technology were worth $14,304,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank acquired a new position in shares of Microchip Technology during the 4th quarter valued at about $452,627,000. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Microchip Technology by 273.2% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,345,096 shares of the semiconductor company’s stock valued at $306,541,000 after purchasing an additional 3,912,895 shares during the period. Van ECK Associates Corp grew its holdings in Microchip Technology by 39.3% in the fourth quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company’s stock valued at $636,184,000 after purchasing an additional 3,131,807 shares during the period. Franklin Resources Inc. increased its position in Microchip Technology by 90.0% during the fourth quarter. Franklin Resources Inc. now owns 6,360,805 shares of the semiconductor company’s stock worth $364,792,000 after purchasing an additional 3,013,162 shares during the last quarter. Finally, Meritage Group LP purchased a new position in Microchip Technology during the fourth quarter worth approximately $145,033,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total transaction of $226,717.12. Following the sale, the chief financial officer now owns 33,272 shares of the company’s stock, valued at $2,025,599.36. The trade was a 10.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.10% of the company’s stock.

Microchip Technology Stock Down 1.0%

Shares of Microchip Technology stock opened at $60.57 on Tuesday. The stock has a market capitalization of $32.63 billion, a price-to-earnings ratio of 108.16 and a beta of 1.42. The business’s 50 day simple moving average is $47.68 and its 200-day simple moving average is $55.68. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. Microchip Technology Incorporated has a twelve month low of $34.13 and a twelve month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. The company had revenue of $970.50 million for the quarter, compared to analyst estimates of $962.86 million. Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. Microchip Technology’s revenue was down 26.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.57 earnings per share. Equities research analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Thursday, May 22nd. Microchip Technology’s dividend payout ratio (DPR) is -18,200.00%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Piper Sandler reissued an “overweight” rating and set a $65.00 price objective (down from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Evercore ISI boosted their price target on Microchip Technology from $65.00 to $71.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Needham & Company LLC restated a “buy” rating and set a $66.00 price target on shares of Microchip Technology in a research note on Friday, May 9th. Mizuho lifted 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. Finally, Bank of America raised shares of Microchip Technology from an “underperform” rating to a “neutral” rating and set a $56.00 target price for the company in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Microchip Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.42.

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.