Kestra Advisory Services LLC sells 3,428 shares of Microchip Technology Incorporated (NASDAQ: MCHP)


Kestra Advisory Services LLC reduced its position in Microchip Technology Incorporated (NASDAQ: MCHP – Get Rating) by 13.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The company held 21,343 shares of the semiconductor company after selling 3,428 shares during the quarter. Kestra Advisory Services LLC’s holdings in Microchip Technology were worth $1,604,000 at the end of the last quarter.

Other institutional investors have also recently changed their positions in the company. Emfo LLC increased its equity stake in Microchip Technology by 100.0% in the fourth quarter. Emfo LLC now owns 290 shares of the semiconductor company worth $25,000 after purchasing an additional 145 shares during the period. Catalyst Capital Advisors LLC increased its stake in Microchip Technology by 83.6% in the fourth quarter. Catalyst Capital Advisors LLC now owns 303 shares of the semiconductor company valued at $26,000 after acquiring 138 additional shares in the last quarter. Riverview Trust Co bought a new position in Microchip Technology in the first quarter worth $26,000. TCI Wealth Advisors Inc. increased its stake in Microchip Technology by 142.1% in the fourth quarter. TCI Wealth Advisors Inc. now owns 305 shares of the semiconductor company valued at $27,000 after acquiring 179 additional shares in the last quarter. Finally, AdvisorNet Financial Inc increased its stake in Microchip Technology by 1,083.3% in the first quarter. AdvisorNet Financial Inc now owns 355 shares of the semiconductor company valued at $27,000 after acquiring 325 additional shares in the last quarter. Institutional investors hold 89.36% of the company’s shares.

Wall Street analysts predict growth

MCHP has been the subject of a number of reports by research analysts. BMO Capital Markets reduced its target price on Microchip Technology from $95.00 to $85.00 in a Tuesday, May 10 research note. Needham & Company LLC reduced its target price on Microchip Technology to $75.00 in a Tuesday, July 5 research note. Goldman Sachs Group cut its price target on Microchip Technology from $76.00 to $61.00 in a research note on Friday. Truist Financial cut its price target on Microchip Technology from $94.00 to $79.00 and set a “buy” rating on the stock in a research note on Friday, April 8. Finally, Citigroup reduced its price target on Microchip Technology from $78.00 to $72.00 in a Tuesday, May 10 research note. Four investment analysts gave the stock a hold rating, sixteen gave the stock a buy rating and one gave the stock a high buy rating. Based on data from MarketBeat.com, Microchip Technology currently has an average rating of “Moderate Buy” and a consensus price target of $89.30.

Microchip Technology Stock Performance

Shares of MCHP opened at $62.38 on Friday. The company has a debt ratio of 1.30, a current ratio of 1.75 and a quick ratio of 1.14. Microchip Technology Incorporated has a one-year minimum of $54.33 and a one-year maximum of $90.00. The company has a 50-day simple moving average of $63.63 and a two-hundred-day simple moving average of $70.19. The company has a market capitalization of $34.59 billion, a PE ratio of 27.54, a growth price-earnings ratio of 0.92 and a beta of 1.60.

Microchip Technology Inc (NASDAQ:MCHP – Get Rating) last released quarterly earnings data on Monday, May 9. The semiconductor company reported EPS of $1.26 for the quarter, beating the consensus estimate of $1.17 by $0.09. Microchip Technology achieved a net margin of 18.85% and a return on equity of 41.89%. The company posted revenue of $1.84 billion in the quarter, against analyst estimates of $1.82 billion. During the same period last year, the company posted earnings per share of $0.82. Microchip Technology’s quarterly revenue increased 25.6% compared to the same quarter last year. On average, analysts expect Microchip Technology Incorporated to post an EPS of 5.14 for the current fiscal year.

Microchip technology increases dividends

The company also recently announced a quarterly dividend, which was paid on Friday, June 3. Shareholders of record on Friday, May 20 received a dividend of $0.276 per share. This is an increase from Microchip Technology’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, May 19. This represents a dividend of $1.10 on an annualized basis and a dividend yield of 1.77%. Microchip Technology’s dividend payout ratio (DPR) is currently 48.57%.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CEO Ganesh Moorthy purchased 8,000 shares of the company in a trade on Friday, June 17. The shares were acquired at an average price of $57.29 per share, with a total value of $458,320.00. Following the completion of the purchase, the CEO now owns 720,313 shares of the company, valued at $41,266,731.77. The acquisition was disclosed in a filing with the SEC, which is available on the SEC’s website. In other Microchip Technology news, CEO Ganesh Moorthy purchased 8,000 shares of the company in a trade on Friday, June 17. The shares were acquired at an average price of $57.29 per share, with a total value of $458,320.00. Following the completion of the purchase, the CEO now owns 720,313 shares of the company, valued at $41,266,731.77. The acquisition was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, Vice Chairman Mitchell R. Little sold 3,674 shares of the company in a transaction that took place on Monday, May 23. The shares were sold at an average price of $66.66, for a total transaction of $244,908.84. Following the sale, the vice president now directly owns 13,056 shares of the company, valued at approximately $870,312.96. The disclosure of this sale can be found here. During the last quarter, insiders sold 9,564 shares of the company valued at $637,217. Company insiders own 2.03% of the company’s shares.

About microchip technology

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Microchip Technology Incorporated develops, manufactures and sells smart, connected and secure embedded control solutions in America, Europe and Asia. The company offers 8-bit, 16-bit, and 32-bit general-purpose microcontrollers; 32-bit embedded microprocessor markets; and specialty microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human-machine interface, security, wired connectivity, and wireless connectivity applications thread.

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Institutional ownership by quarter for Microchip Technology (NASDAQ:MCHP)



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