Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Davis R M Inc.

Davis R M Inc. decreased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 10.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 642,656 shares of the semiconductor company's stock after selling 71,073 shares during the quarter. Davis R M Inc. owned 0.12% of Microchip Technology worth $36,856,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Independent Advisor Alliance increased its stake in Microchip Technology by 136.2% in the 4th quarter. Independent Advisor Alliance now owns 10,627 shares of the semiconductor company's stock valued at $609,000 after buying an additional 6,127 shares during the last quarter. OFI Invest Asset Management purchased a new position in Microchip Technology in the 4th quarter valued at approximately $29,000. Personal CFO Solutions LLC raised its holdings in Microchip Technology by 89.7% during the 4th quarter. Personal CFO Solutions LLC now owns 13,450 shares of the semiconductor company's stock valued at $771,000 after acquiring an additional 6,361 shares during the period. Lifeworks Advisors LLC lifted its position in shares of Microchip Technology by 31.3% during the fourth quarter. Lifeworks Advisors LLC now owns 27,096 shares of the semiconductor company's stock worth $1,554,000 after acquiring an additional 6,458 shares in the last quarter. Finally, Larson Financial Group LLC boosted its holdings in shares of Microchip Technology by 14.6% in the fourth quarter. Larson Financial Group LLC now owns 3,366 shares of the semiconductor company's stock worth $193,000 after acquiring an additional 428 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Microchip Technology Stock Up 0.1 %

Shares of NASDAQ:MCHP traded up $0.04 during midday trading on Wednesday, reaching $52.28. The company's stock had a trading volume of 2,772,337 shares, compared to its average volume of 9,997,288. 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 firm has a 50 day moving average of $56.80 and a 200-day moving average of $66.17. The firm has a market capitalization of $28.12 billion, a P/E ratio of 93.31 and a beta of 1.52. Microchip Technology Incorporated has a 12-month low of $50.21 and a 12-month high of $100.57.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released 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 net margin of 6.49% and a return on equity of 12.62%. On average, research analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology's dividend payout ratio is presently 325.00%.

Insider Buying and Selling at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology 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 completion of the transaction, the chief financial officer now owns 33,272 shares in the company, valued at approximately $2,025,599.36. This trade represents a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

MCHP has been the topic of a number of analyst reports. Piper Sandler reaffirmed an "overweight" rating and set a $65.00 target price (down previously from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Mizuho lifted their price objective on Microchip Technology from $58.00 to $68.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. Evercore ISI upped their target price on Microchip Technology from $65.00 to $71.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 4th. The Goldman Sachs Group lowered their price target on Microchip Technology from $72.00 to $63.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. Finally, KeyCorp decreased their price target on shares of Microchip Technology from $70.00 to $60.00 and set an "overweight" rating on the stock in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Microchip Technology has an average rating of "Moderate Buy" and a consensus target price of $74.37.

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.