Green Alpha Advisors LLC Has $717,000 Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Green Alpha Advisors LLC lifted its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 4.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,933 shares of the semiconductor company’s stock after purchasing an additional 375 shares during the quarter. Green Alpha Advisors LLC’s holdings in Microchip Technology were worth $717,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Swedbank AB acquired a new position in Microchip Technology in the 1st quarter valued at $1,079,000. Caxton Associates LP lifted its position in Microchip Technology by 4,511.5% during the fourth quarter. Caxton Associates LP now owns 400,000 shares of the semiconductor company’s stock worth $36,072,000 after purchasing an additional 391,326 shares during the period. SageView Advisory Group LLC lifted its position in Microchip Technology by 507.5% during the first quarter. SageView Advisory Group LLC now owns 17,307 shares of the semiconductor company’s stock worth $1,553,000 after purchasing an additional 14,458 shares during the period. RFG Advisory LLC grew its stake in Microchip Technology by 228.4% during the first quarter. RFG Advisory LLC now owns 12,841 shares of the semiconductor company’s stock worth $1,152,000 after buying an additional 8,931 shares in the last quarter. Finally, Hennessy Advisors Inc. increased its stake in Microchip Technology by 2,194.5% in the first quarter. Hennessy Advisors Inc. now owns 33,454 shares of the semiconductor company’s stock valued at $3,001,000 after acquiring an additional 31,996 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Trading Down 1.6 %

Shares of MCHP stock traded down $1.23 during mid-day trading on Monday, hitting $76.45. The company’s stock had a trading volume of 5,245,122 shares, compared to its average volume of 6,038,046. 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 0.96, a quick ratio of 1.08 and a current ratio of 1.94. The company’s fifty day simple moving average is $78.80 and its 200-day simple moving average is $86.94. The company has a market cap of $41.02 billion, a PE ratio of 21.87 and a beta of 1.52.

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

Microchip Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were paid a $0.454 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a dividend yield of 2.38%. Microchip Technology’s dividend payout ratio (DPR) is currently 52.16%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MCHP shares. StockNews.com downgraded Microchip Technology from a “hold” rating to a “sell” rating in a report on Tuesday, September 24th. Truist Financial lowered Microchip Technology from a “buy” rating to a “hold” rating and reduced their price objective for the company from $89.00 to $80.00 in a research note on Monday, September 23rd. Rosenblatt Securities reissued a “buy” rating and set a $100.00 target price on shares of Microchip Technology in a research note on Wednesday, July 31st. Bank of America cut shares of Microchip Technology from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $110.00 to $90.00 in a report on Friday, August 2nd. Finally, Citigroup decreased their price target on shares of Microchip Technology from $104.00 to $92.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $99.47.

Insider Activity

In related news, CFO James Eric Bjornholt sold 2,154 shares of Microchip Technology stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $81.50, for a total value of $175,551.00. Following the completion of the sale, the chief financial officer now owns 33,257 shares of the company’s stock, valued at approximately $2,710,445.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.07% of the company’s stock.

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.