Strategy Asset Managers LLC Lowers Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Strategy Asset Managers LLC lowered its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 81,772 shares of the semiconductor company’s stock after selling 1,235 shares during the quarter. Strategy Asset Managers LLC’s holdings in Microchip Technology were worth $4,690,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Mainstream Capital Management LLC acquired a new position in shares of Microchip Technology during the fourth quarter worth about $26,000. Rakuten Securities Inc. increased its stake in Microchip Technology by 309.5% in the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 359 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of Microchip Technology in the 4th quarter worth about $29,000. Financial Life Planners acquired a new position in Microchip Technology during the fourth quarter worth about $32,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Microchip Technology in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Buying and Selling at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction on Tuesday, February 25th. The shares were 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 owns 33,272 shares of the company’s stock, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.10% of the company’s stock.

Microchip Technology Stock Down 4.1 %

Shares of Microchip Technology stock opened at $48.70 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The business has a 50-day moving average of $55.65 and a 200-day moving average of $63.98. The company has a market capitalization of $26.19 billion, a PE ratio of 86.96 and a beta of 1.52. Microchip Technology Incorporated has a 1-year low of $48.27 and a 1-year 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 for the quarter, missing the consensus estimate 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 forecast that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were paid a $0.455 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a yield of 3.74%. Microchip Technology’s dividend payout ratio is currently 325.00%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MCHP. Rosenblatt Securities reaffirmed a “buy” rating and issued a $70.00 target price on shares of Microchip Technology in a research note on Tuesday, March 4th. Raymond James reaffirmed a “strong-buy” rating and set a $60.00 price objective (down previously from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. Stifel Nicolaus dropped their price objective on Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, December 3rd. Mizuho upped their target price on shares of Microchip Technology from $58.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. Finally, Evercore ISI lifted their price target on shares of Microchip Technology from $65.00 to $71.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $74.37.

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.