Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Telemus Capital LLC

Telemus Capital LLC lowered its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 61,559 shares of the semiconductor company’s stock after selling 1,908 shares during the quarter. Telemus Capital LLC’s holdings in Microchip Technology were worth $5,551,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Commerzbank Aktiengesellschaft FI purchased a new position in Microchip Technology in the fourth quarter valued at about $242,000. Cetera Trust Company N.A bought a new position in Microchip Technology during the 4th quarter worth approximately $2,661,000. Handelsbanken Fonder AB lifted its holdings in Microchip Technology by 9.3% during the 4th quarter. Handelsbanken Fonder AB now owns 226,605 shares of the semiconductor company’s stock worth $20,435,000 after buying an additional 19,228 shares during the last quarter. First Command Advisory Services Inc. bought a new position in Microchip Technology during the 4th quarter worth approximately $48,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Microchip Technology by 1.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 52,351 shares of the semiconductor company’s stock worth $4,721,000 after buying an additional 678 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 1,970 shares of Microchip Technology stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total transaction of $165,283.00. Following the sale, the chief financial officer now directly owns 32,893 shares of the company’s stock, valued at $2,759,722.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Karlton D. Johnson sold 370 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total value of $31,080.00. Following the transaction, the director now directly owns 1,789 shares of the company’s stock, valued at approximately $150,276. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James Eric Bjornholt sold 1,970 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total value of $165,283.00. Following the completion of the transaction, the chief financial officer now directly owns 32,893 shares in the company, valued at $2,759,722.70. The disclosure for this sale can be found here. Company insiders own 2.07% of the company’s stock.

Microchip Technology Trading Up 2.3 %

Microchip Technology stock opened at $83.53 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 0.98. The business’s 50-day simple moving average is $86.50 and its 200-day simple moving average is $84.41. The firm has a market capitalization of $45.14 billion, a PE ratio of 19.52, a PEG ratio of 2.49 and a beta of 1.65. Microchip Technology Incorporated has a 52 week low of $68.75 and a 52 week high of $94.30.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.04. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the company posted $1.48 earnings per share. The company’s quarterly revenue was down 18.6% compared to the same quarter last year. Equities research analysts forecast that Microchip Technology Incorporated will post 4.64 earnings per share for the current year.

Microchip Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.15%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 22nd. Microchip Technology’s payout ratio is currently 42.06%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MCHP shares. Stifel Nicolaus increased their target price on Microchip Technology from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Truist Financial cut their price target on Microchip Technology from $97.00 to $93.00 and set a “buy” rating on the stock in a report on Tuesday, January 9th. TD Cowen raised their price target on Microchip Technology from $75.00 to $80.00 and gave the stock a “market perform” rating in a report on Friday, February 2nd. The Goldman Sachs Group cut their price target on Microchip Technology from $87.00 to $77.00 and set a “neutral” rating on the stock in a report on Friday, February 2nd. Finally, Wolfe Research raised Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 price target on the stock in a report on Thursday, January 18th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and a consensus price target of $92.50.

Microchip Technology Profile

Microchip Technology Incorporated develops, manufactures, and sells 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 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.