M. Kraus & Co Has $9.03 Million Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

M. Kraus & Co lifted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHPFree Report) by 1.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 100,638 shares of the semiconductor company’s stock after buying an additional 1,163 shares during the quarter. Microchip Technology comprises approximately 2.7% of M. Kraus & Co’s investment portfolio, making the stock its 15th largest holding. M. Kraus & Co’s holdings in Microchip Technology were worth $9,028,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of MCHP. Envestnet Portfolio Solutions Inc. bought a new position in Microchip Technology during the 3rd quarter valued at $3,469,000. Robertson Stephens Wealth Management LLC raised its stake in shares of Microchip Technology by 9.4% during the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 5,414 shares of the semiconductor company’s stock worth $423,000 after purchasing an additional 466 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Microchip Technology during the 3rd quarter worth $185,000. Brandywine Global Investment Management LLC bought a new stake in shares of Microchip Technology during the 3rd quarter worth $5,764,000. Finally, LPL Financial LLC raised its stake in shares of Microchip Technology by 23.9% during the 3rd quarter. LPL Financial LLC now owns 238,990 shares of the semiconductor company’s stock worth $18,653,000 after purchasing an additional 46,150 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Microchip Technology news, VP Stephen V. Drehobl sold 7,830 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $95.06, for a total transaction of $744,319.80. Following the transaction, the vice president now directly owns 79,509 shares in the company, valued at $7,558,125.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Microchip Technology news, VP Stephen V. Drehobl sold 7,830 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $95.06, for a total transaction of $744,319.80. Following the transaction, the vice president now directly owns 79,509 shares in the company, valued at $7,558,125.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew W. Chapman sold 2,748 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $93.88, for a total transaction of $257,982.24. Following the transaction, the director now owns 35,682 shares in the company, valued at $3,349,826.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,993 shares of company stock worth $2,251,857. Insiders own 2.07% of the company’s stock.

Microchip Technology Price Performance

Shares of MCHP traded up $2.56 during midday trading on Friday, hitting $91.58. 9,783,651 shares of the company traded hands, compared to its average volume of 5,755,465. The stock has a 50-day moving average of $92.48 and a 200-day moving average of $88.96. Microchip Technology Incorporated has a one year low of $68.75 and a one year high of $100.57. The firm has a market cap of $49.17 billion, a P/E ratio of 26.39 and a beta of 1.55. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.20 and a quick ratio of 0.67.

Microchip Technology (NASDAQ:MCHPGet Free Report) last posted its quarterly earnings data on Monday, May 6th. The semiconductor company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Microchip Technology had a net margin of 24.98% and a return on equity of 36.78%. Microchip Technology’s revenue for the quarter was down 40.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.56 earnings per share. As a group, sell-side analysts predict that Microchip Technology Incorporated will post 2.35 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were given a $0.452 dividend. This represents a $1.81 annualized dividend and a dividend yield of 1.97%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Tuesday, May 21st. Microchip Technology’s dividend payout ratio is 52.16%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Needham & Company LLC lifted their target price on Microchip Technology from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Jefferies Financial Group began coverage on Microchip Technology in a research note on Monday, May 13th. They set a “buy” rating and a $115.00 target price on the stock. Truist Financial boosted their price objective on Microchip Technology from $93.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. B. Riley lifted their target price on shares of Microchip Technology from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Finally, Citigroup upped their price target on shares of Microchip Technology from $100.00 to $104.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.06.

View Our Latest Research Report on MCHP

Microchip Technology Company Profile

(Free Report)

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.

See Also

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

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