Unique Wealth Strategies LLC Makes New $763,000 Investment in Microchip Technology Incorporated (NASDAQ:MCHP)

Unique Wealth Strategies LLC acquired a new position in Microchip Technology Incorporated (NASDAQ:MCHP) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 8,461 shares of the semiconductor company’s stock, valued at approximately $763,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mizuho Markets Americas LLC purchased a new position in shares of Microchip Technology during the third quarter valued at approximately $225,800,000. Truist Financial Corp lifted its holdings in shares of Microchip Technology by 324.0% during the fourth quarter. Truist Financial Corp now owns 1,815,013 shares of the semiconductor company’s stock valued at $163,678,000 after purchasing an additional 1,386,924 shares during the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of Microchip Technology by 122.1% during the third quarter. Qube Research & Technologies Ltd now owns 1,529,186 shares of the semiconductor company’s stock valued at $119,353,000 after purchasing an additional 840,526 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Microchip Technology by 173.4% during the third quarter. Public Sector Pension Investment Board now owns 1,062,611 shares of the semiconductor company’s stock valued at $82,937,000 after purchasing an additional 673,924 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Microchip Technology by 1,082.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 715,875 shares of the semiconductor company’s stock valued at $64,558,000 after purchasing an additional 655,332 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MCHP has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Microchip Technology from a “buy” rating to a “hold” rating in a report on Friday, December 29th. Wolfe Research upgraded shares of Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 price objective for the company in a report on Thursday, January 18th. Evercore ISI initiated coverage on shares of Microchip Technology in a report on Tuesday, April 16th. They issued an “outperform” rating and a $106.00 price objective for the company. TD Cowen boosted their price objective on shares of Microchip Technology from $75.00 to $80.00 and gave the stock a “market perform” rating in a report on Friday, February 2nd. Finally, The Goldman Sachs Group decreased their price objective on shares of Microchip Technology from $87.00 to $77.00 and set a “neutral” rating for the company in a report on Friday, February 2nd. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.50.

Insider Activity

In related news, Director Karlton D. Johnson sold 370 shares of Microchip Technology stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total transaction of $31,080.00. Following the transaction, the director now owns 1,789 shares in the company, valued at approximately $150,276. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO James Eric Bjornholt sold 1,970 shares of Microchip Technology stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $83.90, for a total transaction of $165,283.00. Following the transaction, the chief financial officer now owns 32,893 shares in the company, valued at approximately $2,759,722.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Karlton D. Johnson sold 370 shares of Microchip Technology stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total transaction of $31,080.00. Following the transaction, the director now owns 1,789 shares in the company, valued at approximately $150,276. The disclosure for this sale can be found here. Insiders own 2.07% of the company’s stock.

Microchip Technology Stock Performance

Shares of MCHP stock traded up $1.39 during mid-day trading on Friday, reaching $93.60. 5,621,114 shares of the company’s stock traded hands, compared to its average volume of 4,575,927. Microchip Technology Incorporated has a 12 month low of $68.75 and a 12 month high of $94.63. The firm has a 50 day moving average price of $87.24 and a two-hundred day moving average price of $84.65. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 0.98. The firm has a market capitalization of $50.58 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 2.81 and a beta of 1.65.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the firm posted $1.48 EPS. The company’s revenue for the quarter was down 18.6% compared to the same quarter last year. On average, research analysts forecast that Microchip Technology Incorporated will post 4.64 EPS for the current year.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were given a dividend of $0.45 per share. This is an increase from Microchip Technology’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 22nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.92%. Microchip Technology’s payout ratio is presently 42.06%.

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.