Graypoint LLC Has $406,000 Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Graypoint LLC cut its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 7.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,053 shares of the semiconductor company’s stock after selling 395 shares during the period. Graypoint LLC’s holdings in Microchip Technology were worth $406,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new position in shares of Microchip Technology in the 1st quarter worth approximately $39,000. Versant Capital Management Inc boosted its stake in Microchip Technology by 148.8% in the second quarter. Versant Capital Management Inc now owns 530 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 317 shares in the last quarter. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Microchip Technology during the first quarter worth $54,000. TruNorth Capital Management LLC acquired a new stake in shares of Microchip Technology in the second quarter valued at $55,000. Finally, Wolff Wiese Magana LLC raised its holdings in shares of Microchip Technology by 55.2% in the third quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock valued at $49,000 after buying an additional 218 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Microchip Technology Stock Performance

Shares of Microchip Technology stock opened at $72.87 on Friday. The stock’s fifty day simple moving average is $76.73 and its 200 day simple moving average is $84.98. The company has a current ratio of 0.88, a quick ratio of 1.08 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $39.13 billion, a PE ratio of 50.96 and a beta of 1.53. Microchip Technology Incorporated has a 12 month low of $71.76 and a 12 month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the firm posted $1.54 earnings per share. Microchip Technology’s revenue was down 48.4% compared to the same quarter last year. On average, research analysts predict that Microchip Technology Incorporated will post 1.73 EPS for the current year.

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.50%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, November 22nd. Microchip Technology’s dividend payout ratio (DPR) is presently 127.27%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MCHP. Rosenblatt Securities restated a “buy” rating and issued a $90.00 price objective on shares of Microchip Technology in a research report on Wednesday. Jefferies Financial Group decreased their price target on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday. KeyCorp dropped their price objective on shares of Microchip Technology from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday. Piper Sandler dropped their target price on Microchip Technology from $100.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, StockNews.com cut Microchip Technology from a “hold” rating to a “sell” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $92.00.

Insider Buying and Selling

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,154 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $81.50, for a total transaction of $175,551.00. Following the completion of the transaction, the chief financial officer now owns 33,257 shares in the company, valued at approximately $2,710,445.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.10% of the stock is currently owned by company insiders.

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.