4,688 Shares in Microchip Technology Incorporated (NASDAQ:MCHP) Acquired by EntryPoint Capital LLC

EntryPoint Capital LLC bought a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,688 shares of the semiconductor company’s stock, valued at approximately $269,000.

Several other hedge funds also recently bought and sold shares of the company. Coldstream Capital Management Inc. grew its holdings in shares of Microchip Technology by 2.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 11,052 shares of the semiconductor company’s stock valued at $878,000 after buying an additional 260 shares during the period. EP Wealth Advisors LLC grew its stake in Microchip Technology by 1.8% in the third quarter. EP Wealth Advisors LLC now owns 14,725 shares of the semiconductor company’s stock valued at $1,182,000 after acquiring an additional 264 shares during the period. Lebenthal Global Advisors LLC increased its holdings in shares of Microchip Technology by 7.3% in the fourth quarter. Lebenthal Global Advisors LLC now owns 3,894 shares of the semiconductor company’s stock worth $223,000 after acquiring an additional 266 shares in the last quarter. Elmwood Wealth Management Inc. raised its position in shares of Microchip Technology by 1.5% during the fourth quarter. Elmwood Wealth Management Inc. now owns 20,558 shares of the semiconductor company’s stock worth $1,179,000 after purchasing an additional 300 shares during the period. Finally, Stratos Wealth Partners LTD. lifted its holdings in shares of Microchip Technology by 7.4% during the 4th quarter. Stratos Wealth Partners LTD. now owns 4,680 shares of the semiconductor company’s stock valued at $268,000 after purchasing an additional 321 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the transaction, the chief financial officer now owns 33,272 shares in the company, valued at approximately $2,025,599.36. This represents a 10.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Morgan Stanley lowered their target price on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. KeyCorp dropped their price objective on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. Needham & Company LLC upped their target price on shares of Microchip Technology from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Raymond James reissued a “strong-buy” rating and issued a $60.00 price target (down previously from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. Finally, Stifel Nicolaus reduced 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. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.37.

Microchip Technology Stock Performance

Shares of MCHP opened at $48.70 on Friday. The company has a market cap of $26.19 billion, a PE ratio of 86.96 and a beta of 1.52. The firm has a 50-day moving average of $55.65 and a 200-day moving average of $63.98. Microchip Technology Incorporated has a one year low of $48.27 and a one year high of $100.57. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly 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 forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

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

About Microchip Technology

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.