Lindbrook Capital LLC Has $112,000 Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Lindbrook Capital LLC lessened its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 22.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,238 shares of the semiconductor company’s stock after selling 350 shares during the quarter. Lindbrook Capital LLC’s holdings in Microchip Technology were worth $112,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Bleakley Financial Group LLC boosted its holdings in shares of Microchip Technology by 1.3% in the 4th quarter. Bleakley Financial Group LLC now owns 9,415 shares of the semiconductor company’s stock valued at $849,000 after buying an additional 119 shares during the last quarter. RFG Advisory LLC raised its stake in Microchip Technology by 3.2% in the 4th quarter. RFG Advisory LLC now owns 3,910 shares of the semiconductor company’s stock valued at $353,000 after acquiring an additional 123 shares during the period. Twelve Points Wealth Management LLC raised its stake in Microchip Technology by 1.0% in the 4th quarter. Twelve Points Wealth Management LLC now owns 12,229 shares of the semiconductor company’s stock valued at $1,103,000 after acquiring an additional 125 shares during the period. Merit Financial Group LLC raised its stake in Microchip Technology by 1.9% in the 3rd quarter. Merit Financial Group LLC now owns 7,096 shares of the semiconductor company’s stock valued at $554,000 after acquiring an additional 134 shares during the period. Finally, Financial Advocates Investment Management raised its stake in Microchip Technology by 4.1% in the 3rd quarter. Financial Advocates Investment Management now owns 3,607 shares of the semiconductor company’s stock valued at $281,000 after acquiring an additional 142 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Activity at Microchip Technology

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

Wall Street Analysts Forecast Growth

MCHP has been the topic of a number of research analyst reports. TD Cowen increased their price target on Microchip Technology from $75.00 to $80.00 and gave the company a “market perform” rating in a research note on Friday, February 2nd. Stifel Nicolaus increased their price objective on Microchip Technology from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Evercore ISI assumed coverage on Microchip Technology in a research report on Tuesday, April 16th. They set an “outperform” rating and a $106.00 price objective on the stock. UBS Group lowered their price objective on Microchip Technology from $105.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. Finally, StockNews.com cut Microchip Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 29th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Microchip Technology has an average rating of “Moderate Buy” and an average price target of $92.50.

Microchip Technology Stock Up 3.2 %

Shares of NASDAQ MCHP opened at $86.19 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 0.98. Microchip Technology Incorporated has a 52 week low of $68.75 and a 52 week high of $94.30. The stock has a market capitalization of $46.58 billion, a P/E ratio of 20.14, a PEG ratio of 2.55 and a beta of 1.65. The stock’s fifty day moving average is $86.61 and its 200 day moving average is $84.46.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.04. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.77 billion. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. Microchip Technology’s revenue was down 18.6% compared to the same quarter last year. During the same period last year, the firm posted $1.48 earnings per share. Sell-side analysts forecast that Microchip Technology Incorporated will post 4.64 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.44. This represents a $1.80 annualized dividend and a yield of 2.09%. Microchip Technology’s dividend payout ratio (DPR) is 42.06%.

About Microchip Technology

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.