GoalVest Advisory LLC Has $54,000 Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

GoalVest Advisory LLC boosted its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 49.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 602 shares of the semiconductor company’s stock after purchasing an additional 200 shares during the quarter. GoalVest Advisory LLC’s holdings in Microchip Technology were worth $54,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCHP. RMR Wealth Builders grew its position in Microchip Technology by 17.6% in the first quarter. RMR Wealth Builders now owns 8,903 shares of the semiconductor company’s stock valued at $799,000 after acquiring an additional 1,333 shares during the last quarter. Sunbelt Securities Inc. grew its position in Microchip Technology by 9.2% in the first quarter. Sunbelt Securities Inc. now owns 9,356 shares of the semiconductor company’s stock valued at $839,000 after acquiring an additional 791 shares during the last quarter. First Financial Corp IN grew its position in Microchip Technology by 46.7% in the first quarter. First Financial Corp IN now owns 1,058 shares of the semiconductor company’s stock valued at $95,000 after acquiring an additional 337 shares during the last quarter. Dynamic Advisor Solutions LLC grew its position in Microchip Technology by 80.7% in the first quarter. Dynamic Advisor Solutions LLC now owns 23,194 shares of the semiconductor company’s stock valued at $2,081,000 after acquiring an additional 10,358 shares during the last quarter. Finally, CGN Advisors LLC grew its position in Microchip Technology by 10.0% in the first quarter. CGN Advisors LLC now owns 28,565 shares of the semiconductor company’s stock valued at $2,563,000 after acquiring an additional 2,586 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MCHP shares. Citigroup lifted their target price on Microchip Technology from $100.00 to $104.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Stifel Nicolaus boosted their price target on Microchip Technology from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Jefferies Financial Group assumed coverage on Microchip Technology in a report on Monday, May 13th. They set a “buy” rating and a $115.00 price target on the stock. Truist Financial boosted their price target on Microchip Technology from $93.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Finally, Piper Sandler restated a “neutral” rating and set a $90.00 price target (up from $80.00) on shares of Microchip Technology in a report on Tuesday, May 7th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.06.

Microchip Technology Price Performance

Shares of MCHP opened at $89.43 on Friday. Microchip Technology Incorporated has a 52-week low of $68.75 and a 52-week high of $100.57. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.67 and a current ratio of 1.20. The business’s 50 day moving average price is $92.72 and its two-hundred day moving average price is $89.08. The firm has a market cap of $48.01 billion, a PE ratio of 25.77 and a beta of 1.55.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Monday, May 6th. The semiconductor company reported $0.57 earnings per share for the quarter, hitting 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 analyst estimates of $1.33 billion. During the same period in the prior year, the firm earned $1.56 earnings per share. Microchip Technology’s revenue for the quarter was down 40.6% on a year-over-year basis. On average, equities analysts anticipate that Microchip Technology Incorporated will post 2.35 EPS for the current year.

Microchip Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd were given a dividend of $0.452 per share. This represents a $1.81 dividend on an annualized basis and a dividend yield of 2.02%. This is a positive change 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 presently 52.16%.

Insider Transactions at Microchip Technology

In other news, 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 transaction of $908,800.00. Following the transaction, the vice president now directly owns 82,203 shares of the company’s stock, valued at $7,470,608.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Stephen V. Drehobl sold 7,830 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $95.06, for a total transaction of $744,319.80. Following the completion of the sale, the vice president now owns 79,509 shares in the company, valued at $7,558,125.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Stephen V. Drehobl sold 10,000 shares of the company’s stock in a transaction 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 sale, the vice president now owns 82,203 shares of the company’s stock, valued at approximately $7,470,608.64. The disclosure for this sale can be found here. Insiders have sold 23,993 shares of company stock valued at $2,251,857 over the last ninety days. 2.07% of the stock is owned by company insiders.

Microchip Technology 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.