WoodTrust Financial Corp Has $5.35 Million Position in Microchip Technology Incorporated (NASDAQ:MCHP)

WoodTrust Financial Corp lifted its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 7.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 66,629 shares of the semiconductor company’s stock after purchasing an additional 4,593 shares during the quarter. WoodTrust Financial Corp’s holdings in Microchip Technology were worth $5,350,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. SeaCrest Wealth Management LLC grew its position in Microchip Technology by 3.3% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 4,147 shares of the semiconductor company’s stock worth $379,000 after acquiring an additional 131 shares during the last quarter. Corundum Group Inc. boosted its stake in Microchip Technology by 3.4% in the third quarter. Corundum Group Inc. now owns 4,315 shares of the semiconductor company’s stock worth $346,000 after purchasing an additional 143 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its holdings in shares of Microchip Technology by 4.5% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 3,470 shares of the semiconductor company’s stock worth $318,000 after purchasing an additional 148 shares during the last quarter. Busey Bank increased its stake in shares of Microchip Technology by 2.6% in the second quarter. Busey Bank now owns 6,006 shares of the semiconductor company’s stock valued at $550,000 after buying an additional 155 shares in the last quarter. Finally, Financial Advocates Investment Management raised its holdings in shares of Microchip Technology by 1.5% in the third quarter. Financial Advocates Investment Management now owns 10,795 shares of the semiconductor company’s stock valued at $867,000 after buying an additional 158 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 2,154 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $81.50, for a total transaction of $175,551.00. Following the sale, the chief financial officer now owns 33,257 shares of the company’s stock, valued at $2,710,445.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.10% of the stock is currently owned by insiders.

Microchip Technology Price Performance

Microchip Technology stock opened at $73.75 on Thursday. Microchip Technology Incorporated has a one year low of $71.76 and a one year high of $100.57. The stock’s fifty day moving average price is $77.05 and its two-hundred day moving average price is $85.12. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.94 and a quick ratio of 1.08. The firm has a market cap of $39.57 billion, a PE ratio of 51.57 and a beta of 1.53.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Friday, November 22nd. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio (DPR) is currently 126.57%.

Analyst Ratings Changes

MCHP has been the subject of several research reports. Jefferies Financial Group lowered their price objective on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday. Needham & Company LLC dropped their price objective on shares of Microchip Technology from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday. Piper Sandler decreased their price objective on Microchip Technology from $100.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday. B. Riley dropped their target price on Microchip Technology from $110.00 to $103.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, Evercore ISI reiterated an “outperform” rating and issued a $95.00 price target (down previously from $101.00) on shares of Microchip Technology in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Microchip Technology currently has a consensus rating of “Moderate Buy” and an average target price of $92.00.

About Microchip Technology

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.