Microchip Technology Incorporated (NASDAQ:MCHP) Holdings Reduced by Wisconsin Capital Management LLC

Wisconsin Capital Management LLC lessened its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 3.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,676 shares of the semiconductor company’s stock after selling 1,825 shares during the period. Microchip Technology accounts for about 1.9% of Wisconsin Capital Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Wisconsin Capital Management LLC’s holdings in Microchip Technology were worth $3,587,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. SeaCrest Wealth Management LLC raised its holdings in shares of Microchip Technology by 3.3% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 4,147 shares of the semiconductor company’s stock worth $379,000 after purchasing an additional 131 shares in the last quarter. Corundum Group Inc. grew its position in Microchip Technology by 3.4% in the 3rd quarter. Corundum Group Inc. now owns 4,315 shares of the semiconductor company’s stock worth $346,000 after purchasing an additional 143 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its holdings in shares of Microchip Technology by 4.5% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 3,470 shares of the semiconductor company’s stock worth $318,000 after purchasing an additional 148 shares in the last quarter. Busey Bank raised its stake in shares of Microchip Technology by 2.6% in the 2nd quarter. Busey Bank now owns 6,006 shares of the semiconductor company’s stock valued at $550,000 after buying an additional 155 shares in the last quarter. Finally, Financial Advocates Investment Management raised its holdings in shares of Microchip Technology by 1.5% in the 3rd quarter. Financial Advocates Investment Management now owns 10,795 shares of the semiconductor company’s stock worth $867,000 after buying an additional 158 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Stock Up 0.8 %

Microchip Technology stock opened at $75.09 on Wednesday. The company has a current ratio of 1.94, a quick ratio of 1.08 and a debt-to-equity ratio of 0.96. The firm has a market cap of $40.29 billion, a price-to-earnings ratio of 30.04 and a beta of 1.53. The stock has a fifty day simple moving average of $77.17 and a two-hundred day simple moving average of $85.20. Microchip Technology Incorporated has a 12 month low of $71.76 and a 12 month high of $100.57.

Microchip Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 2.42%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio is currently 72.80%.

Insider Buying and Selling

In related news, CFO James Eric Bjornholt sold 2,154 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $81.50, for a total transaction of $175,551.00. Following the completion of the transaction, the chief financial officer now directly owns 33,257 shares of the company’s stock, valued at approximately $2,710,445.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on MCHP. Morgan Stanley downgraded Microchip Technology from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $102.00 to $100.00 in a report on Thursday, July 11th. Piper Sandler raised Microchip Technology from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $90.00 to $100.00 in a research report on Friday, August 16th. JPMorgan Chase & Co. lowered their price target on Microchip Technology from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. TD Cowen cut their target price on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a research note on Wednesday. Finally, Citigroup decreased their price objective on shares of Microchip Technology from $104.00 to $92.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus price target of $96.79.

Microchip Technology Company Profile

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.