Microchip Technology Incorporated (NASDAQ:MCHP) Stake Lowered by Angeles Investment Advisors LLC

Angeles Investment Advisors LLC cut its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHPFree Report) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,960 shares of the semiconductor company’s stock after selling 440 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Microchip Technology were worth $628,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in MCHP. BKM Wealth Management LLC acquired a new stake in Microchip Technology in the fourth quarter worth approximately $27,000. Rakuten Securities Inc. acquired a new stake in Microchip Technology in the fourth quarter worth approximately $27,000. Fortitude Family Office LLC acquired a new stake in Microchip Technology in the fourth quarter worth approximately $29,000. Operose Advisors LLC lifted its position in Microchip Technology by 79.3% in the third quarter. Operose Advisors LLC now owns 502 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 222 shares during the period. Finally, Bfsg LLC acquired a new stake in shares of Microchip Technology during the 4th quarter valued at $45,000. 91.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. KeyCorp increased their price objective on Microchip Technology from $90.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, May 7th. UBS Group boosted their target price on shares of Microchip Technology from $95.00 to $103.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Piper Sandler reissued a “neutral” rating and set a $90.00 target price (up from $80.00) on shares of Microchip Technology in a research note on Tuesday, May 7th. Truist Financial upped their price target on shares of Microchip Technology from $93.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Finally, Susquehanna upped their price target on shares of Microchip Technology from $100.00 to $105.00 and gave the stock a “positive” rating in a research note on Tuesday, May 7th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus price target of $101.06.

Read Our Latest Stock Analysis on MCHP

Microchip Technology Price Performance

Shares of NASDAQ MCHP traded down $0.51 during mid-day trading on Friday, hitting $92.85. 4,605,332 shares of the stock were exchanged, compared to its average volume of 5,764,940. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.67 and a current ratio of 1.20. The company has a market cap of $49.85 billion, a P/E ratio of 26.90 and a beta of 1.55. The stock’s fifty day simple moving average is $91.59 and its two-hundred day simple moving average is $88.24. Microchip Technology Incorporated has a twelve month low of $68.75 and a twelve month high of $100.57.

Microchip Technology (NASDAQ:MCHPGet Free Report) last announced its quarterly earnings data on Monday, May 6th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Microchip Technology had a net margin of 24.98% and a return on equity of 36.78%. The business’s revenue for the quarter was down 40.6% on a year-over-year basis. During the same period last year, the firm earned $1.56 earnings per share. As a group, analysts forecast that Microchip Technology Incorporated will post 2.35 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd were given a dividend of $0.452 per share. This represents a $1.81 dividend on an annualized basis and a dividend yield of 1.95%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date was Tuesday, May 21st. Microchip Technology’s dividend payout ratio (DPR) is currently 52.16%.

Insider Transactions at Microchip Technology

In related news, VP Stephen V. Drehobl sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $90.88, for a total value of $908,800.00. Following the sale, the vice president now directly owns 82,203 shares of the company’s stock, valued at approximately $7,470,608.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Stephen V. Drehobl sold 7,830 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $95.06, for a total transaction of $744,319.80. Following the transaction, the vice president now directly owns 79,509 shares in the company, valued at approximately $7,558,125.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Stephen V. Drehobl sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $90.88, for a total transaction of $908,800.00. Following the transaction, the vice president now owns 82,203 shares in the company, valued at $7,470,608.64. The disclosure for this sale can be found here. Insiders have sold a total of 21,245 shares of company stock valued at $1,993,875 over the last three months. 2.07% of the stock is currently owned by corporate insiders.

Microchip Technology 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.

Further Reading

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

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