Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Annis Gardner Whiting Capital Advisors LLC

Annis Gardner Whiting Capital Advisors LLC lessened its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 24.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 963 shares of the semiconductor company’s stock after selling 318 shares during the quarter. Annis Gardner Whiting Capital Advisors LLC’s holdings in Microchip Technology were worth $55,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MCHP. Mainstream Capital Management LLC bought a new stake in shares of Microchip Technology during the 4th quarter valued at about $26,000. Rakuten Securities Inc. boosted its stake in Microchip Technology by 309.5% in the fourth quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 359 shares during the period. OFI Invest Asset Management acquired a new position in Microchip Technology in the fourth quarter valued at approximately $29,000. Financial Life Planners bought a new position in shares of Microchip Technology during the fourth quarter valued at approximately $32,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Microchip Technology during the 4th quarter worth approximately $34,000. Institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on MCHP shares. Raymond James restated a “strong-buy” rating and set a $60.00 price objective (down from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. The Goldman Sachs Group dropped their price objective on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Rosenblatt Securities reissued a “buy” rating and set a $70.00 target price on shares of Microchip Technology in a research note on Tuesday, March 4th. Needham & Company LLC raised their price target on shares of Microchip Technology from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Finally, StockNews.com downgraded Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $74.37.

Insider Buying and Selling

In related news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the completion of the sale, the chief financial officer now directly owns 33,272 shares of the company’s stock, valued at approximately $2,025,599.36. This represents a 10.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.10% of the company’s stock.

Microchip Technology Stock Performance

MCHP opened at $36.22 on Friday. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. The firm has a market cap of $19.48 billion, a PE ratio of 64.68 and a beta of 1.51. The business has a fifty day simple moving average of $54.29 and a 200-day simple moving average of $62.86. Microchip Technology Incorporated has a fifty-two week low of $36.10 and a fifty-two week high of $100.57.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. As a group, equities analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were given a $0.455 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 5.02%. Microchip Technology’s dividend payout ratio (DPR) is presently 325.00%.

Microchip Technology 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.