Madison Asset Management LLC increases share position in Microchip Technology Incorporated (NASDAQ:MCHP)

Madison Asset Management LLC increased its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP – Free Report) by 4.5% during the fourth quarter, the company disclosed in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 324,726 shares of the semiconductor company after acquiring an additional 13,962 shares during the same period. Madison Asset Management LLC owned about 0.06% of Microchip Technology worth $29,284,000, according to its most recent SEC filing.

Other major investors have also been buying and selling shares of the company. BKM Wealth Management LLC acquired a new stake in shares of Microchip Technology in the 4th quarter valued at $27,000. Rakuten Securities Inc. acquired a new stake in shares of Microchip Technology in the 4th quarter valued at $27,000. Fortitude Family Office LLC acquired a new stake in shares of Microchip Technology in the 4th quarter valued at $29,000. Milestone Investment Advisors LLC acquired a new stake in shares of Microchip Technology in the 3rd quarter valued at $36,000. Finally, Operose Advisors LLC increased its stake in shares of Microchip Technology by 79.3% in the 3rd quarter. Operose Advisors LLC now owns 502 shares of the semiconductor company's stock valued at $39,000 after purchasing an additional 222 shares in the last quarter. 91.51% of the shares are currently owned by institutional investors.

Insider transactions at Microchip Technology

In other news, Vice President Stephen V. Drehobl sold 10,000 shares of Microchip Technology stock in a transaction that occurred 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 owns 82,203 shares of the company's stock, valued at approximately $7,470,608.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC's website. In related news, Vice President Stephen V. Drehobl sold 10,000 shares of the company's stock in a transaction that occurred 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 owns 82,203 shares of the company's stock, valued at approximately $7,470,608.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James Eric Bjornholt sold 3,188 shares of the company's stock on Thursday, May 23. The shares were sold at an average price of $99.98, for a total value of $318,736.24. Following the transaction, the chief financial officer now owns 33,257 shares of the company's stock, valued at approximately $3,325,034.86. The disclosure of this sale can be found here. In the last 90 days, insiders sold 21,018 shares of the company's stock, valued at $1,971,856. 2.07% of the shares are currently owned by company insiders.

Price-performance ratio from Microchip Technology

MCHP rose $0.90 on Friday, reaching $97.23. 7,410,643 shares of the company traded hands, compared to an average volume of 5,265,853. The company's 50-day moving average is $91.10 and its 200-day moving average is $87.91. The company has a market cap of $52.20 billion, a price-to-earnings ratio of 28.02 and a beta of 1.60. Microchip Technology Incorporated has a one year low of $68.75 and a one year high of $100.57. The company has a current ratio of 1.20, a quick ratio of 0.67 and a debt-to-equity ratio of 0.75.

Microchip Technology (NASDAQ:MCHP – Free Report) last released its quarterly earnings results on Monday, May 6. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. Microchip Technology had a return on equity of 36.78% and a net margin of 24.98%. The company's revenue declined 40.6% compared to the year-ago quarter. In the year-ago quarter, the company posted earnings per share of $1.56. As a group, research analysts expect that Microchip Technology Incorporated will report earnings per share of $2.35 for the current year.

Microchip Technology increases dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd will receive a dividend of $0.452. This is an increase from Microchip Technology's previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Tuesday, May 21st. This represents an annualized dividend of $1.81 and a dividend yield of 1.86%. Microchip Technology's payout ratio is 52.16%.

Wall Street analysts predict growth

Several equities analysts have recently issued reports on MCHP shares. B. Riley increased their price target on Microchip Technology from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. TD Cowen increased their price target on Microchip Technology from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Tuesday, May 7th. Susquehanna increased their price target on Microchip Technology from $100.00 to $105.00 and gave the stock a “positive” rating in a report on Tuesday, May 7th. Stifel Nicolaus increased 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. Finally, KeyCorp raised their price target on Microchip Technology from $90.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7. Five equities analysts have rated the stock with a “hold” rating and fourteen have given the company a “buy” rating. According to MarketBeat.com, Microchip Technology currently has an average rating of “Moderate Buy” and a consensus price target of $101.06.

Read our latest report on microchip technology

About Microchip Technology

(Free report)

Microchip Technology Incorporated designs, manufactures and markets intelligent, 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, embedded 32-bit mixed-signal microprocessors and specialty microcontrollers for automotive, industrial, computing, communications, lighting, power, motor control, human-machine interface, security, wired connectivity and wireless connectivity applications.

Further information

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