Entropy Technologies LP Takes Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Entropy Technologies LP bought a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,390 shares of the semiconductor company's stock, valued at approximately $1,316,000.

Several other large investors also recently modified their holdings of MCHP. Pathway Financial Advisers LLC bought a new stake in shares of Microchip Technology in the first quarter valued at $39,000. Versant Capital Management Inc lifted its holdings in Microchip Technology by 148.8% during the second quarter. Versant Capital Management Inc now owns 530 shares of the semiconductor company's stock valued at $48,000 after purchasing an additional 317 shares during the last quarter. Wolff Wiese Magana LLC boosted its position in Microchip Technology by 55.2% during the third quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company's stock worth $49,000 after purchasing an additional 218 shares during the period. TruNorth Capital Management LLC purchased a new position in shares of Microchip Technology in the second quarter worth about $55,000. Finally, Family Firm Inc. bought a new stake in shares of Microchip Technology in the second quarter valued at approximately $62,000. Hedge funds and other institutional investors 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 stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $81.50, for a total value of $175,551.00. Following the completion of the transaction, the chief financial officer now directly owns 33,257 shares of the company's stock, valued at $2,710,445.50. This represents a 6.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MCHP shares. Mizuho set a $95.00 price objective on shares of Microchip Technology in a research note on Friday, October 18th. B. Riley reduced their price target 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. Truist Financial cut Microchip Technology from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $89.00 to $80.00 in a report on Monday, September 23rd. Piper Sandler decreased their price target on Microchip Technology from $100.00 to $85.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 6th. Finally, Bank of America lowered shares of Microchip Technology from a "buy" rating to a "neutral" rating and cut their price objective for the company from $110.00 to $90.00 in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $92.00.

Microchip Technology Trading Down 1.5 %

NASDAQ:MCHP traded down $0.99 during midday trading on Thursday, reaching $65.60. 6,114,599 shares of the stock traded hands, compared to its average volume of 5,993,271. The stock has a market capitalization of $35.23 billion, a P/E ratio of 46.57 and a beta of 1.53. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88. The company has a fifty day moving average of $76.10 and a 200 day moving average of $84.46. Microchip Technology Incorporated has a 12 month low of $65.48 and a 12 month high of $100.57.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the firm posted $1.54 earnings per share. The company's quarterly revenue was down 48.4% compared to the same quarter last year. On average, research analysts predict that Microchip Technology Incorporated will post 1.38 EPS for the current year.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.455 per share. The ex-dividend date is Friday, November 22nd. This is a boost from Microchip Technology's previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a dividend yield of 2.77%. Microchip Technology's payout ratio is 127.27%.

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.