Callan Family Office LLC Acquires 1,072 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Callan Family Office LLC increased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 36.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,040 shares of the semiconductor company’s stock after purchasing an additional 1,072 shares during the period. Callan Family Office LLC’s holdings in Microchip Technology were worth $324,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Microchip Technology by 2.9% during the first quarter. Vanguard Group Inc. now owns 68,583,723 shares of the semiconductor company’s stock valued at $6,152,646,000 after acquiring an additional 1,921,497 shares during the last quarter. Principal Financial Group Inc. increased its position in Microchip Technology by 0.4% during the second quarter. Principal Financial Group Inc. now owns 9,246,403 shares of the semiconductor company’s stock valued at $846,046,000 after acquiring an additional 33,603 shares during the last quarter. Boston Partners increased its position in Microchip Technology by 10.7% during the first quarter. Boston Partners now owns 7,591,471 shares of the semiconductor company’s stock valued at $681,838,000 after acquiring an additional 736,818 shares during the last quarter. Van ECK Associates Corp increased its position in Microchip Technology by 4.9% during the second quarter. Van ECK Associates Corp now owns 6,363,937 shares of the semiconductor company’s stock valued at $582,301,000 after acquiring an additional 295,626 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Microchip Technology by 17.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,527,709 shares of the semiconductor company’s stock valued at $406,182,000 after acquiring an additional 673,992 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Activity

In related 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 value of $175,551.00. Following the transaction, the chief financial officer now owns 33,257 shares in the company, valued at approximately $2,710,445.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.07% of the company’s stock.

Microchip Technology Stock Performance

MCHP stock opened at $77.31 on Wednesday. The firm has a market cap of $41.48 billion, a price-to-earnings ratio of 22.28 and a beta of 1.52. The firm has a 50-day simple moving average of $78.57 and a two-hundred day simple moving average of $86.85. Microchip Technology Incorporated has a one year low of $68.75 and a one year 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.

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

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were issued 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 2.35%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio is 52.16%.

Wall Street Analyst Weigh In

MCHP has been the topic of a number of analyst reports. Needham & Company LLC cut their price objective on shares of Microchip Technology from $100.00 to $96.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. Citigroup lowered their target price 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. Truist Financial lowered shares of Microchip Technology from a “buy” rating to a “hold” rating and lowered their target price for the company from $89.00 to $80.00 in a research note on Monday, September 23rd. JPMorgan Chase & Co. lowered their target price on shares of Microchip Technology from $110.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, TD Cowen lowered their target price on shares of Microchip Technology from $90.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $99.47.

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.