M. Kraus & Co Has $5.62 Million Position in Microchip Technology Incorporated (NASDAQ:MCHP)

M. Kraus & Co increased its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHPGet Rating) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 96,688 shares of the semiconductor company’s stock after acquiring an additional 773 shares during the period. Microchip Technology comprises about 2.2% of M. Kraus & Co’s investment portfolio, making the stock its 21st biggest position. M. Kraus & Co’s holdings in Microchip Technology were worth $5,616,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Landmark Wealth Management LLC bought a new position in Microchip Technology during the 1st quarter valued at about $30,000. Riverview Trust Co bought a new position in shares of Microchip Technology in the first quarter worth about $26,000. AdvisorNet Financial Inc raised its stake in shares of Microchip Technology by 1,083.3% in the first quarter. AdvisorNet Financial Inc now owns 355 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 325 shares during the last quarter. Kessler Investment Group LLC bought a new position in shares of Microchip Technology in the first quarter worth about $32,000. Finally, Rockbridge Investment Management LCC raised its stake in shares of Microchip Technology by 633.3% in the fourth quarter. Rockbridge Investment Management LCC now owns 440 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 380 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

Microchip Technology Stock Down 3.4 %

Shares of Microchip Technology stock traded down $2.15 on Friday, hitting $61.16. The company had a trading volume of 156,111 shares, compared to its average volume of 4,583,577. The firm has a market capitalization of $33.79 billion, a P/E ratio of 23.28, a P/E/G ratio of 0.82 and a beta of 1.62. Microchip Technology Incorporated has a twelve month low of $54.33 and a twelve month high of $90.00. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.78 and a quick ratio of 1.17. The stock has a 50-day moving average of $67.40 and a 200-day moving average of $67.11.

Microchip Technology (NASDAQ:MCHPGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The semiconductor company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.10. Microchip Technology had a net margin of 21.34% and a return on equity of 44.90%. During the same period in the previous year, the firm earned $0.88 earnings per share. Research analysts predict that Microchip Technology Incorporated will post 5.42 earnings per share for the current year.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Friday, August 19th were given a $0.301 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Thursday, August 18th. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.28. Microchip Technology’s payout ratio is currently 44.12%.

Insider Transactions at Microchip Technology

In other news, Director Matthew W. Chapman sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $68.21, for a total value of $68,210.00. Following the sale, the director now owns 37,682 shares of the company’s stock, valued at $2,570,289.22. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Microchip Technology news, CFO James Eric Bjornholt sold 2,379 shares of the company’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $68.21, for a total transaction of $162,271.59. Following the sale, the chief financial officer now directly owns 35,333 shares of the company’s stock, valued at $2,410,063.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew W. Chapman sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $68.21, for a total transaction of $68,210.00. Following the sale, the director now directly owns 37,682 shares in the company, valued at $2,570,289.22. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Microchip Technology from $60.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 3rd. Bank of America lowered their price target on shares of Microchip Technology from $85.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, June 29th. Stifel Nicolaus upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating and lifted their price target for the stock from $70.00 to $75.00 in a research report on Tuesday, June 28th. B. Riley lifted their price target on shares of Microchip Technology from $78.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Finally, Needham & Company LLC lifted their price target on shares of Microchip Technology from $75.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Microchip Technology has a consensus rating of “Moderate Buy” and a consensus target price of $89.73.

Microchip Technology Profile

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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 microprocessors markets; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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