4,300 Shares in Microchip Technology Incorporated (NASDAQ:MCHP) Acquired by TradeLink Capital LLC

TradeLink Capital LLC acquired a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,300 shares of the semiconductor company’s stock, valued at approximately $393,000.

Other hedge funds have also recently modified their holdings of the company. Rise Advisors LLC bought a new stake in Microchip Technology in the 1st quarter valued at $28,000. Pineridge Advisors LLC purchased a new stake in shares of Microchip Technology in the fourth quarter worth about $33,000. Steph & Co. lifted its position in shares of Microchip Technology by 57.4% in the first quarter. Steph & Co. now owns 414 shares of the semiconductor company’s stock worth $37,000 after buying an additional 151 shares in the last quarter. Pathway Financial Advisers LLC purchased a new position in Microchip Technology during the 1st quarter valued at approximately $39,000. Finally, Richardson Capital Management LLC purchased a new position in Microchip Technology during the 1st quarter valued at approximately $45,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In other news, CFO James Eric Bjornholt sold 2,154 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $81.50, for a total transaction of $175,551.00. Following the transaction, the chief financial officer now directly owns 33,257 shares in the company, valued at $2,710,445.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.07% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MCHP. Mizuho upgraded Microchip Technology from a “neutral” rating to a “buy” rating and increased their target price for the company from $85.00 to $115.00 in a research report on Friday, May 24th. Citigroup dropped their price objective on shares of Microchip Technology from $104.00 to $92.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Bank of America downgraded shares of Microchip Technology from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $110.00 to $90.00 in a report on Friday, August 2nd. B. Riley lowered their price target on shares of Microchip Technology from $110.00 to $103.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, Rosenblatt Securities reissued a “buy” rating and set a $100.00 price objective on shares of Microchip Technology in a research note on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $99.95.

Microchip Technology Trading Down 1.8 %

Shares of MCHP opened at $76.08 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 firm has a market capitalization of $40.82 billion, a price-to-earnings ratio of 21.93 and a beta of 1.53. The company has a 50-day moving average of $83.04 and a 200 day moving average of $88.02. Microchip Technology Incorporated has a 1-year low of $68.75 and a 1-year high of $100.57.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.24 billion. Microchip Technology had a return on equity of 28.33% and a net margin of 20.80%. Microchip Technology’s quarterly revenue was down 45.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.56 earnings per share. On average, research analysts expect that Microchip Technology Incorporated will post 1.74 EPS for the current year.

Microchip Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were paid a dividend of $0.454 per share. The ex-dividend date was Thursday, August 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.39%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio (DPR) is currently 52.45%.

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.