Quadrant Capital Group LLC Acquires 177 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Quadrant Capital Group LLC grew its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,707 shares of the semiconductor company’s stock after purchasing an additional 177 shares during the period. Quadrant Capital Group LLC’s holdings in Microchip Technology were worth $424,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of MCHP. Mizuho Markets Americas LLC bought a new position in shares of Microchip Technology in the third quarter valued at approximately $225,800,000. Truist Financial Corp grew its position in Microchip Technology by 324.0% during the fourth quarter. Truist Financial Corp now owns 1,815,013 shares of the semiconductor company’s stock worth $163,678,000 after buying an additional 1,386,924 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in shares of Microchip Technology by 122.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,529,186 shares of the semiconductor company’s stock valued at $119,353,000 after acquiring an additional 840,526 shares during the last quarter. Van ECK Associates Corp raised its stake in Microchip Technology by 16.0% in the fourth quarter. Van ECK Associates Corp now owns 5,177,014 shares of the semiconductor company’s stock valued at $466,863,000 after purchasing an additional 714,376 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its stake in Microchip Technology by 173.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 1,062,611 shares of the semiconductor company’s stock worth $82,937,000 after buying an additional 673,924 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Microchip Technology Stock Performance

Shares of NASDAQ:MCHP opened at $94.33 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.67 and a debt-to-equity ratio of 0.75. The company has a 50-day moving average price of $89.44 and a 200-day moving average price of $86.32. The company has a market cap of $50.98 billion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 3.29 and a beta of 1.60. Microchip Technology Incorporated has a 12 month low of $68.75 and a 12 month high of $96.14.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Monday, May 6th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. Microchip Technology had a return on equity of 36.78% and a net margin of 24.98%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the business earned $1.56 EPS. Microchip Technology’s revenue was down 40.6% compared to the same quarter last year. As a group, equities analysts anticipate that Microchip Technology Incorporated will post 2.38 EPS for the current year.

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd will be paid 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 dividend on an annualized basis and a yield of 1.92%. Microchip Technology’s dividend payout ratio (DPR) is presently 51.87%.

Insider Activity at Microchip Technology

In other Microchip Technology news, VP Stephen V. Drehobl sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $90.88, for a total value of $908,800.00. Following the completion of the transaction, the vice president now directly owns 82,203 shares in the company, valued at approximately $7,470,608.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Microchip Technology news, CFO James Eric Bjornholt sold 1,970 shares of Microchip Technology stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total transaction of $165,283.00. Following the sale, the chief financial officer now directly owns 32,893 shares of the company’s stock, valued at approximately $2,759,722.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Stephen V. Drehobl sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $90.88, for a total value of $908,800.00. Following the transaction, the vice president now owns 82,203 shares in the company, valued at approximately $7,470,608.64. The disclosure for this sale can be found here. Insiders have sold a total of 19,800 shares of company stock worth $1,818,403 over the last quarter. Corporate insiders own 2.07% of the company’s stock.

Analyst Ratings Changes

MCHP has been the subject of a number of research analyst reports. KeyCorp lifted their price objective on shares of Microchip Technology from $90.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. TD Cowen lifted their price target on Microchip Technology from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Tuesday, May 7th. Stifel Nicolaus upped their price objective on Microchip Technology from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Needham & Company LLC raised their price objective on Microchip Technology from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Finally, B. Riley upped their target price on Microchip Technology from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $99.39.

Microchip Technology Company 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.