Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Xponance Inc.

Xponance Inc. lowered its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 32.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 71,801 shares of the semiconductor company’s stock after selling 34,725 shares during the period. Xponance Inc.’s holdings in Microchip Technology were worth $6,570,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MCHP. Gilbert & Cook Inc. raised its position in Microchip Technology by 8.5% in the fourth quarter. Gilbert & Cook Inc. now owns 5,354 shares of the semiconductor company’s stock valued at $483,000 after purchasing an additional 421 shares during the period. D.A. Davidson & CO. raised its position in Microchip Technology by 82.6% in the fourth quarter. D.A. Davidson & CO. now owns 11,284 shares of the semiconductor company’s stock valued at $1,018,000 after purchasing an additional 5,103 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in Microchip Technology by 5.4% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 41,269 shares of the semiconductor company’s stock valued at $3,722,000 after purchasing an additional 2,107 shares during the period. SageView Advisory Group LLC purchased a new stake in shares of Microchip Technology in the 4th quarter valued at $245,000. Finally, Orion Portfolio Solutions LLC raised its holdings in shares of Microchip Technology by 8.1% in the 4th quarter. Orion Portfolio Solutions LLC now owns 26,275 shares of the semiconductor company’s stock valued at $2,250,000 after buying an additional 1,977 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 2,154 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $81.50, for a total value of $175,551.00. Following the completion of the sale, the chief financial officer now directly owns 33,257 shares of the company’s stock, valued at approximately $2,710,445.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.07% of the company’s stock.

Microchip Technology Trading Up 0.6 %

NASDAQ:MCHP opened at $77.50 on Wednesday. The stock has a 50-day simple moving average of $80.50 and a 200-day simple moving average of $87.55. The stock has a market cap of $41.58 billion, a P/E ratio of 22.33 and a beta of 1.53. Microchip Technology Incorporated has a 1 year low of $68.75 and a 1 year high of $100.57. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.08 and a current ratio of 1.94.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, August 1st. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Microchip Technology had a return on equity of 28.33% and a net margin of 20.80%. The business’s revenue was down 45.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.56 EPS. As a group, analysts anticipate that Microchip Technology Incorporated will post 1.74 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were given a $0.454 dividend. The ex-dividend date was Thursday, August 22nd. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.34%. Microchip Technology’s dividend payout ratio is 52.45%.

Analysts Set New Price Targets

Several research firms recently issued reports on MCHP. Needham & Company LLC cut their price objective on Microchip Technology from $100.00 to $96.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Morgan Stanley downgraded Microchip Technology from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $102.00 to $100.00 in a report on Thursday, July 11th. Truist Financial downgraded Microchip Technology from a “buy” rating to a “hold” rating and cut their price objective for the company from $89.00 to $80.00 in a report on Monday. Rosenblatt Securities restated a “buy” rating and set a $100.00 price target on shares of Microchip Technology in a report on Wednesday, July 31st. Finally, StockNews.com downgraded Microchip Technology from a “hold” rating to a “sell” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.47.

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.