Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Schechter Investment Advisors LLC

Schechter Investment Advisors LLC decreased its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 32.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,066 shares of the semiconductor company’s stock after selling 3,375 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Microchip Technology were worth $405,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Van ECK Associates Corp increased its stake in shares of Microchip Technology by 39.3% during the fourth quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company’s stock worth $636,184,000 after buying an additional 3,131,807 shares during the period. Assenagon Asset Management S.A. grew its holdings in Microchip Technology by 9,901.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock worth $163,886,000 after acquiring an additional 2,829,082 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Microchip Technology by 30.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company’s stock valued at $264,430,000 after purchasing an additional 776,408 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Microchip Technology by 20.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,751,987 shares of the semiconductor company’s stock valued at $220,957,000 after purchasing an additional 460,697 shares in the last quarter. Finally, DF Dent & Co. Inc. purchased a new stake in shares of Microchip Technology during the 3rd quarter worth $27,744,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Jefferies Financial Group dropped their target price on Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. TD Cowen raised their target price on Microchip Technology from $50.00 to $60.00 and gave the stock a “hold” rating in a research report on Tuesday. B. Riley reaffirmed a “buy” rating and issued a $75.00 price target (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Piper Sandler reiterated an “overweight” rating and issued a $65.00 price target (down from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Finally, Mizuho boosted their price objective on shares of Microchip Technology from $58.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.37.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $59.64 on Thursday. The stock’s 50-day moving average price is $56.95 and its 200 day moving average price is $66.99. 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 stock has a market capitalization of $32.08 billion, a PE ratio of 106.50 and a beta of 1.52. Microchip Technology Incorporated has a 52-week low of $50.21 and a 52-week high of $100.57.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) 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 research analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be paid a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is presently 325.00%.

Insider Activity

In other news, CFO James Eric Bjornholt sold 3,724 shares of the firm’s stock in a transaction that occurred on 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 $2,025,599.36. This trade represents a 10.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.10% of the company’s stock.

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.