Wisconsin Capital Management LLC Sells 35,446 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Wisconsin Capital Management LLC trimmed its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 79.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,230 shares of the semiconductor company's stock after selling 35,446 shares during the quarter. Wisconsin Capital Management LLC's holdings in Microchip Technology were worth $529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Mainstream Capital Management LLC purchased a new position in Microchip Technology during the fourth quarter worth about $26,000. Rakuten Securities Inc. boosted its stake in shares of Microchip Technology by 309.5% in the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company's stock worth $27,000 after buying an additional 359 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of Microchip Technology in the fourth quarter valued at approximately $29,000. Financial Life Planners purchased a new stake in shares of Microchip Technology during the fourth quarter valued at approximately $32,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in Microchip Technology during the fourth quarter worth $34,000. Institutional investors own 91.51% of the company's stock.

Insider Buying and Selling

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

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Microchip Technology Price Performance

Microchip Technology stock traded down $4.49 during midday trading on Friday, reaching $36.22. 26,402,713 shares of the stock were exchanged, compared to its average volume of 7,622,366. Microchip Technology Incorporated has a 52 week low of $36.10 and a 52 week high of $100.57. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. The firm has a market cap of $19.48 billion, a PE ratio of 64.68 and a beta of 1.51. The company's fifty day moving average is $54.29 and its 200-day moving average is $62.76.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share 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%. On average, sell-side analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 5.02%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology's payout ratio is 325.00%.

Wall Street Analysts Forecast Growth

MCHP has been the subject of several research analyst reports. Morgan Stanley decreased their target price on Microchip Technology from $71.00 to $58.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. Mizuho raised their price objective on shares of Microchip Technology from $58.00 to $68.00 and gave the stock an "outperform" rating in a report on Tuesday, March 4th. Bank of America cut shares of Microchip Technology from a "neutral" rating to an "underperform" rating and dropped their target price for the company from $80.00 to $65.00 in a research note on Monday, December 16th. KeyCorp decreased their price target on shares of Microchip Technology from $70.00 to $60.00 and set an "overweight" rating for the company in a research note on Friday, February 7th. Finally, The Goldman Sachs Group dropped their price objective on Microchip Technology from $72.00 to $63.00 and set a "neutral" rating on the stock in a research note on Friday, January 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Microchip Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.37.

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.