First National Advisers LLC Has $4.20 Million Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

First National Advisers LLC raised its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 73,290 shares of the semiconductor company’s stock after buying an additional 1,737 shares during the quarter. First National Advisers LLC’s holdings in Microchip Technology were worth $4,203,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Pallas Capital Advisors LLC bought a new position in shares of Microchip Technology during the fourth quarter worth about $5,917,000. Consolidated Planning Corp acquired a new stake in shares of Microchip Technology in the fourth quarter valued at approximately $308,000. Quadrature Capital Ltd acquired a new stake in Microchip Technology during the 3rd quarter worth approximately $3,312,000. Symphony Financial Ltd. Co. acquired a new stake in Microchip Technology during the 4th quarter worth approximately $520,000. Finally, Benjamin Edwards Inc. lifted its holdings in Microchip Technology by 5,185.4% during the 3rd quarter. Benjamin Edwards Inc. now owns 9,408 shares of the semiconductor company’s stock worth $755,000 after purchasing an additional 9,230 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Price Performance

Shares of MCHP opened at $53.50 on Friday. Microchip Technology Incorporated has a twelve month low of $50.21 and a twelve month high of $100.57. The company has a 50 day moving average of $56.51 and a two-hundred day moving average of $65.68. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. The company has a market cap of $28.77 billion, a price-to-earnings ratio of 95.54 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. As a group, analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were issued a $0.455 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.40%. Microchip Technology’s payout ratio is 325.00%.

Wall Street Analysts Forecast Growth

MCHP has been the topic of a number of recent research reports. B. Riley restated a “buy” rating and set a $75.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Morgan Stanley cut their target price on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Needham & Company LLC lifted their target price on Microchip Technology from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. StockNews.com downgraded Microchip Technology from a “hold” rating to a “sell” rating in a research note on Monday, February 10th. Finally, The Goldman Sachs Group decreased their target price on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $74.37.

Insider Buying and Selling at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the sale, the chief financial officer now directly owns 33,272 shares of the company’s stock, valued at $2,025,599.36. This represents a 10.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.10% of the stock is currently owned by company insiders.

Microchip Technology Company 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.