Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Claro Advisors LLC

Claro Advisors LLC trimmed its stake in Microchip Technology Incorporated (NASDAQ:MCHPFree Report) by 8.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,779 shares of the semiconductor company’s stock after selling 354 shares during the period. Claro Advisors LLC’s holdings in Microchip Technology were worth $341,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCHP. Halpern Financial Inc. boosted its position in shares of Microchip Technology by 83.5% in the 2nd quarter. Halpern Financial Inc. now owns 290 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 132 shares during the period. OFI Invest Asset Management acquired a new position in shares of Microchip Technology in the 3rd quarter valued at $26,000. BKM Wealth Management LLC acquired a new stake in Microchip Technology during the 4th quarter worth $27,000. Fortitude Family Office LLC purchased a new position in Microchip Technology during the 4th quarter worth $29,000. Finally, Almanack Investment Partners LLC. purchased a new stake in shares of Microchip Technology in the third quarter valued at about $29,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on MCHP shares. StockNews.com downgraded Microchip Technology from a “buy” rating to a “hold” rating in a research note on Friday, December 29th. TD Cowen increased their price target on Microchip Technology from $75.00 to $80.00 and gave the stock a “market perform” rating in a report on Friday, February 2nd. Truist Financial dropped their price objective on shares of Microchip Technology from $97.00 to $93.00 and set a “buy” rating on the stock in a research note on Tuesday, January 9th. The Goldman Sachs Group reduced their target price on shares of Microchip Technology from $87.00 to $77.00 and set a “neutral” rating for the company in a research note on Friday, February 2nd. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $100.00 price target on shares of Microchip Technology in a research note on Tuesday, January 30th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Microchip Technology has a consensus rating of “Moderate Buy” and an average price target of $91.33.

Read Our Latest Report on MCHP

Microchip Technology Stock Up 0.0 %

Shares of NASDAQ MCHP opened at $89.74 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.58. The firm’s 50-day moving average is $86.38 and its two-hundred day moving average is $83.36. Microchip Technology Incorporated has a 12-month low of $68.75 and a 12-month high of $94.30. The company has a market capitalization of $48.50 billion, a PE ratio of 20.97, a price-to-earnings-growth ratio of 1.60 and a beta of 1.65.

Microchip Technology (NASDAQ:MCHPGet Free Report) last announced its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the firm earned $1.48 EPS. Microchip Technology’s quarterly revenue was down 18.6% on a year-over-year basis. Equities analysts anticipate that Microchip Technology Incorporated will post 4.64 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were paid a dividend of $0.45 per share. This is an increase from Microchip Technology’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.80 annualized dividend and a dividend yield of 2.01%. Microchip Technology’s dividend payout ratio is presently 42.06%.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 1,970 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total transaction of $165,283.00. Following the transaction, the chief financial officer now owns 32,893 shares of the company’s stock, valued at approximately $2,759,722.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO James Eric Bjornholt sold 1,970 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $83.90, for a total transaction of $165,283.00. Following the completion of the transaction, the chief financial officer now owns 32,893 shares of the company’s stock, valued at approximately $2,759,722.70. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Karlton D. Johnson sold 370 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total transaction of $31,080.00. Following the completion of the sale, the director now owns 1,789 shares of the company’s stock, valued at $150,276. The disclosure for this sale can be found here. 2.07% of the stock is owned by corporate insiders.

Microchip Technology Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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