Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Xponance Inc.

Xponance Inc. reduced its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 1.0% in the 4th quarter, HoldingsChannel reports. The fund owned 105,401 shares of the semiconductor company’s stock after selling 1,117 shares during the quarter. Xponance Inc.’s holdings in Microchip Technology were worth $9,505,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. BKM Wealth Management LLC acquired a new stake in shares of Microchip Technology in the 4th quarter valued at about $27,000. Rakuten Securities Inc. acquired a new stake in shares of Microchip Technology in the 4th quarter valued at about $27,000. Fortitude Family Office LLC acquired a new stake in shares of Microchip Technology in the 4th quarter valued at about $29,000. OFI Invest Asset Management acquired a new stake in shares of Microchip Technology in the 3rd quarter valued at about $26,000. Finally, VitalStone Financial LLC acquired a new stake in shares of Microchip Technology in the 1st quarter valued at about $38,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MCHP shares. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 target price on shares of Microchip Technology in a research report on Tuesday, January 30th. The Goldman Sachs Group decreased their target price on Microchip Technology from $87.00 to $77.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. TD Cowen upped their target price on Microchip Technology from $75.00 to $80.00 and gave the company a “market perform” rating in a research report on Friday, February 2nd. UBS Group reduced their price objective on Microchip Technology from $105.00 to $95.00 and set a “buy” rating for the company in a research note 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 objective for the company in a research note on Thursday, January 18th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $92.50.

Microchip Technology Stock Performance

Shares of MCHP stock traded down $0.45 during trading hours on Friday, reaching $83.76. 321,516 shares of the company’s stock were exchanged, compared to its average volume of 5,460,283. The company has a market cap of $45.26 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 2.60 and a beta of 1.65. The company’s 50 day moving average is $86.58 and its two-hundred day moving average is $84.24. Microchip Technology Incorporated has a 1 year low of $68.75 and a 1 year high of $94.30. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.58.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The company’s revenue for the quarter was down 18.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.48 EPS. Equities research analysts anticipate that Microchip Technology Incorporated will post 4.64 EPS for the current fiscal 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 issued a $0.45 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.15%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.44. Microchip Technology’s dividend payout ratio is currently 42.06%.

Insider Buying and Selling

In related news, Director Karlton D. Johnson sold 370 shares of the company’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 sale, the director now owns 1,789 shares in the company, valued at approximately $150,276. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Karlton D. Johnson sold 370 shares of the company’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 sale, the director now owns 1,789 shares in the company, valued at approximately $150,276. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO James Eric Bjornholt sold 1,970 shares of the company’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 sale, the chief financial officer now owns 32,893 shares in the company, valued at approximately $2,759,722.70. The disclosure for this sale can be found here. Insiders own 2.07% of the company’s stock.

About Microchip Technology

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.