Americana Partners LLC Acquires 179 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Americana Partners LLC grew its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 5.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,441 shares of the semiconductor company’s stock after acquiring an additional 179 shares during the quarter. Americana Partners LLC’s holdings in Microchip Technology were worth $276,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MCHP. Norden Group LLC boosted its position in Microchip Technology by 23.9% during the first quarter. Norden Group LLC now owns 3,418 shares of the semiconductor company’s stock valued at $307,000 after buying an additional 660 shares during the period. Private Advisor Group LLC boosted its holdings in Microchip Technology by 3.9% during the 1st quarter. Private Advisor Group LLC now owns 63,552 shares of the semiconductor company’s stock valued at $5,701,000 after acquiring an additional 2,388 shares during the period. Mission Wealth Management LP grew its position in Microchip Technology by 4.0% during the 1st quarter. Mission Wealth Management LP now owns 4,289 shares of the semiconductor company’s stock worth $385,000 after acquiring an additional 163 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in Microchip Technology by 6.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 225,633 shares of the semiconductor company’s stock worth $20,242,000 after purchasing an additional 13,304 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. lifted its position in Microchip Technology by 4.3% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 12,720 shares of the semiconductor company’s stock valued at $1,141,000 after purchasing an additional 526 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MCHP has been the topic of several recent analyst reports. Morgan Stanley cut shares of Microchip Technology from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $102.00 to $100.00 in a report on Thursday, July 11th. Bank of America cut shares of Microchip Technology from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $110.00 to $90.00 in a research report on Friday, August 2nd. Mizuho set a $95.00 target price on shares of Microchip Technology in a report on Friday, October 18th. StockNews.com raised Microchip Technology from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Finally, Piper Sandler raised Microchip Technology from a “neutral” rating to an “overweight” rating and upped their price target for the company from $90.00 to $100.00 in a research report on Friday, August 16th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $97.89.

Microchip Technology Price Performance

Shares of NASDAQ MCHP opened at $74.81 on Friday. 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 has a 50 day simple moving average of $77.40 and a two-hundred day simple moving average of $85.32. Microchip Technology Incorporated has a fifty-two week low of $71.76 and a fifty-two week high of $100.57. The company has a market capitalization of $40.14 billion, a price-to-earnings ratio of 29.92 and a beta of 1.53.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. Microchip Technology had a return on equity of 28.33% and a net margin of 20.80%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the previous year, the business earned $1.56 earnings per share. The firm’s quarterly revenue was down 45.8% compared to the same quarter last year. Analysts expect that Microchip Technology Incorporated will post 1.73 EPS for the current fiscal year.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,154 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $81.50, for a total transaction of $175,551.00. Following the completion of the sale, the chief financial officer now directly owns 33,257 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 2.10% of the stock is owned by insiders.

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.