Kintegral Advisory LLC Sells 559 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Kintegral Advisory LLC cut its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,001 shares of the semiconductor company’s stock after selling 559 shares during the quarter. Kintegral Advisory LLC’s holdings in Microchip Technology were worth $688,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Carl P. Sherr & Co. LLC grew its stake in Microchip Technology by 3.5% in the 4th quarter. Carl P. Sherr & Co. LLC now owns 11,970 shares of the semiconductor company’s stock worth $686,000 after acquiring an additional 400 shares in the last quarter. Waterfront Wealth Inc. boosted its holdings in shares of Microchip Technology by 47.5% in the fourth quarter. Waterfront Wealth Inc. now owns 19,409 shares of the semiconductor company’s stock valued at $1,113,000 after purchasing an additional 6,251 shares during the period. Handelsbanken Fonder AB grew its stake in Microchip Technology by 17.0% in the fourth quarter. Handelsbanken Fonder AB now owns 277,224 shares of the semiconductor company’s stock worth $15,899,000 after purchasing an additional 40,274 shares in the last quarter. Private Advisor Group LLC increased its holdings in Microchip Technology by 0.6% during the 4th quarter. Private Advisor Group LLC now owns 60,169 shares of the semiconductor company’s stock worth $3,451,000 after purchasing an additional 373 shares during the period. Finally, Bank of Jackson Hole Trust bought a new stake in Microchip Technology during the 4th quarter valued at $461,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Price Performance

Shares of NASDAQ MCHP opened at $61.07 on Friday. Microchip Technology Incorporated has a fifty-two week low of $50.21 and a fifty-two week high of $100.57. The company has a market cap of $32.84 billion, a PE ratio of 109.05 and a beta of 1.50. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. The business has a 50-day simple moving average of $56.70 and a two-hundred day simple moving average of $68.03.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. As a group, equities analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be given a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 2.98%. The ex-dividend date is Monday, February 24th. Microchip Technology’s payout ratio is 325.00%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Morgan Stanley cut their price target on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Raymond James reissued a “strong-buy” rating and set a $60.00 target price (down previously from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. Jefferies Financial Group lowered their price target on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Piper Sandler reissued an “overweight” rating and set a $65.00 price objective (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Finally, StockNews.com lowered Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average price target of $77.11.

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.