Yousif Capital Management LLC Has $6.46 Million Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Yousif Capital Management LLC reduced its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 4.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 71,628 shares of the semiconductor company’s stock after selling 3,632 shares during the quarter. Yousif Capital Management LLC’s holdings in Microchip Technology were worth $6,459,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MCHP. OFI Invest Asset Management bought a new position in Microchip Technology during the third quarter valued at $26,000. BKM Wealth Management LLC bought a new position in Microchip Technology during the fourth quarter valued at $27,000. Rakuten Securities Inc. bought a new position in Microchip Technology during the fourth quarter valued at $27,000. Fortitude Family Office LLC bought a new position in Microchip Technology during the fourth quarter valued at $29,000. Finally, Milestone Investment Advisors LLC bought a new position in Microchip Technology during the third quarter valued at $36,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Trading Up 1.7 %

NASDAQ MCHP opened at $92.21 on Friday. The stock’s 50-day simple moving average is $87.00 and its two-hundred day simple moving average is $84.55. Microchip Technology Incorporated has a twelve month low of $68.75 and a twelve month high of $94.30. The company has a market capitalization of $49.83 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 2.77 and a beta of 1.65. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 0.57.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.77 billion. During the same period last year, the firm earned $1.48 earnings per share. The company’s revenue for the quarter was down 18.6% compared to the same quarter last year. Research analysts forecast that Microchip Technology Incorporated will post 4.64 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were paid a dividend of $0.45 per share. This is a boost from Microchip Technology’s previous quarterly dividend of $0.44. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Thursday, February 22nd. Microchip Technology’s dividend payout ratio (DPR) is 42.06%.

Insider Buying and Selling

In related news, CFO James Eric Bjornholt sold 1,970 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $83.90, for a total value 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Karlton D. Johnson sold 370 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total value of $31,080.00. Following the sale, the director now directly owns 1,789 shares of the company’s stock, valued at $150,276. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James Eric Bjornholt sold 1,970 shares of the firm’s stock in a transaction dated 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 sale, 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. 2.07% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. The Goldman Sachs Group reduced their price objective on Microchip Technology from $87.00 to $77.00 and set a “neutral” rating for the company in a report on Friday, February 2nd. Wolfe Research upgraded Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 target price on the stock in a research report on Thursday, January 18th. Truist Financial dropped their target price on Microchip Technology from $97.00 to $93.00 and set a “buy” rating on the stock in a research report on Tuesday, January 9th. StockNews.com downgraded Microchip Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 29th. Finally, Needham & Company LLC increased their target price on Microchip Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Microchip Technology currently 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.