Aspire Private Capital LLC Has $134,000 Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Aspire Private Capital LLC lessened its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 84.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,490 shares of the semiconductor company’s stock after selling 8,071 shares during the period. Aspire Private Capital LLC’s holdings in Microchip Technology were worth $134,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Northern Trust Corp boosted its position in shares of Microchip Technology by 1.1% in the third quarter. Northern Trust Corp now owns 7,521,409 shares of the semiconductor company’s stock worth $587,046,000 after buying an additional 80,431 shares during the period. Van ECK Associates Corp boosted its position in Microchip Technology by 7.8% during the third quarter. Van ECK Associates Corp now owns 4,462,638 shares of the semiconductor company’s stock valued at $348,309,000 after purchasing an additional 322,540 shares during the last quarter. Mizuho Markets Americas LLC acquired a new stake in Microchip Technology during the third quarter valued at $225,800,000. Charles Schwab Investment Management Inc. boosted its position in Microchip Technology by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,830,397 shares of the semiconductor company’s stock valued at $220,913,000 after purchasing an additional 25,002 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in Microchip Technology by 0.5% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,457,152 shares of the semiconductor company’s stock valued at $221,586,000 after purchasing an additional 11,163 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Stock Performance

Shares of Microchip Technology stock traded up $2.47 during trading on Tuesday, reaching $86.00. The company’s stock had a trading volume of 802,210 shares, compared to its average volume of 5,470,284. 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 fifty day moving average price is $86.50 and its 200-day moving average price is $84.41. The firm has a market cap of $46.47 billion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 2.49 and a beta of 1.65. Microchip Technology Incorporated has a one year low of $68.75 and a one year high of $94.30.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. The company had revenue of $1.77 billion for 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 quarterly revenue was down 18.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.48 earnings per share. As a group, equities research analysts predict that Microchip Technology Incorporated will post 4.64 earnings per share for the current year.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were issued a $0.45 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.44. This represents a $1.80 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Thursday, February 22nd. Microchip Technology’s payout ratio is presently 42.06%.

Insider Transactions at Microchip Technology

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MCHP. Truist Financial reduced their price objective on Microchip Technology from $97.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, January 9th. Stifel Nicolaus lifted their price objective on Microchip Technology from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Susquehanna reissued a “positive” rating and set a $100.00 price objective on shares of Microchip Technology in a research report on Monday, April 8th. StockNews.com cut Microchip Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 29th. Finally, Rosenblatt Securities restated a “buy” rating and set a $100.00 target price on shares of Microchip Technology in a report on Tuesday, January 30th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.