Coign Capital Advisors LLC Takes Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Coign Capital Advisors LLC purchased a new stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,280 shares of the semiconductor company's stock, valued at approximately $532,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCHP. Mainstream Capital Management LLC acquired a new position in Microchip Technology in the fourth quarter valued at about $26,000. Rakuten Securities Inc. raised its position in Microchip Technology by 309.5% during the fourth quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 359 shares in the last quarter. OFI Invest Asset Management acquired a new stake in shares of Microchip Technology in the 4th quarter valued at $29,000. Financial Life Planners acquired a new position in shares of Microchip Technology during the 4th quarter worth $32,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of Microchip Technology during the 4th quarter worth $34,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Stock Down 3.1 %

MCHP traded down $1.19 during midday trading on Wednesday, reaching $37.54. 3,889,389 shares of the company were exchanged, compared to its average volume of 11,335,276. The company's fifty day moving average price is $51.55 and its 200 day moving average price is $60.45. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $100.57. The company has a market cap of $20.19 billion, a price-to-earnings ratio of 67.04 and a beta of 1.51. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25.

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

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were paid a $0.455 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 4.85%. Microchip Technology's payout ratio is presently 325.00%.

Analyst Ratings Changes

A number of research analysts have recently commented on MCHP shares. Rosenblatt Securities reissued a "buy" rating and issued a $70.00 target price on shares of Microchip Technology in a report on Tuesday, March 4th. StockNews.com lowered shares of Microchip Technology from a "hold" rating to a "sell" rating in a research report on Monday, February 10th. Evercore ISI upped their price target on shares of Microchip Technology from $65.00 to $71.00 and gave the stock an "outperform" rating in a report on Tuesday, March 4th. Piper Sandler restated an "overweight" rating and set a $65.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Finally, Citigroup cut their price target on Microchip Technology from $65.00 to $50.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $72.68.

Insider Buying and Selling

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the sale, the chief financial officer now owns 33,272 shares of the company's stock, valued at $2,025,599.36. This trade represents a 10.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.10% of the stock is currently owned by 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.