Compass Ion Advisors LLC Decreases Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Compass Ion Advisors LLC lowered its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 43.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 13,006 shares of the semiconductor company’s stock after selling 10,196 shares during the quarter. Compass Ion Advisors LLC’s holdings in Microchip Technology were worth $1,167,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. BKM Wealth Management LLC acquired a new position in Microchip Technology in the fourth quarter valued at approximately $27,000. Rakuten Securities Inc. acquired a new stake in Microchip Technology during the 4th quarter worth $27,000. Rise Advisors LLC purchased a new stake in Microchip Technology in the first quarter valued at $28,000. Fortitude Family Office LLC acquired a new position in Microchip Technology in the fourth quarter valued at $29,000. Finally, Pineridge Advisors LLC purchased a new position in shares of Microchip Technology during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insiders Place Their Bets

In other news, Director Matthew W. Chapman sold 2,748 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $93.88, for a total value of $257,982.24. Following the completion of the transaction, the director now owns 35,682 shares in the company, valued at $3,349,826.16. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Matthew W. Chapman sold 2,748 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $93.88, for a total transaction of $257,982.24. Following the completion of the transaction, the director now directly owns 35,682 shares of the company’s stock, valued at approximately $3,349,826.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO James Eric Bjornholt sold 3,188 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $99.98, for a total value of $318,736.24. Following the completion of the sale, the chief financial officer now directly owns 33,257 shares in the company, valued at approximately $3,325,034.86. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,993 shares of company stock worth $2,251,857. 2.07% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MCHP shares. Stifel Nicolaus boosted their target price on Microchip Technology from $98.00 to $102.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Citigroup boosted their price objective on Microchip Technology from $100.00 to $104.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. TD Cowen raised their target price on shares of Microchip Technology from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Tuesday, May 7th. UBS Group upped their price target on shares of Microchip Technology from $95.00 to $103.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Finally, Truist Financial lifted their price objective on shares of Microchip Technology from $93.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.06.

Microchip Technology Price Performance

Shares of NASDAQ MCHP opened at $91.50 on Monday. The company’s fifty day moving average is $93.02 and its two-hundred day moving average is $89.10. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.67 and a current ratio of 1.20. The firm has a market capitalization of $49.13 billion, a P/E ratio of 26.37 and a beta of 1.54. Microchip Technology Incorporated has a one year low of $68.75 and a one year high of $100.57.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Monday, May 6th. The semiconductor company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. Microchip Technology had a net margin of 24.98% and a return on equity of 36.78%. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the firm earned $1.56 earnings per share. The firm’s revenue was down 40.6% on a year-over-year basis. Analysts forecast that Microchip Technology Incorporated will post 2.35 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were paid a $0.452 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.81 annualized dividend and a yield of 1.98%. The ex-dividend date was Tuesday, May 21st. Microchip Technology’s dividend payout ratio (DPR) is presently 52.16%.

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.