Ethic Inc. Decreases Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Ethic Inc. lessened its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 6.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,750 shares of the semiconductor company’s stock after selling 4,373 shares during the quarter. Ethic Inc.’s holdings in Microchip Technology were worth $3,656,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MCHP. First Manhattan CO. LLC. grew its holdings in shares of Microchip Technology by 23.6% in the fourth quarter. First Manhattan CO. LLC. now owns 5,549 shares of the semiconductor company’s stock valued at $318,000 after purchasing an additional 1,059 shares in the last quarter. Fiduciary Trust Co grew its stake in shares of Microchip Technology by 3.0% in the 4th quarter. Fiduciary Trust Co now owns 56,548 shares of the semiconductor company’s stock worth $3,243,000 after buying an additional 1,621 shares in the last quarter. FORA Capital LLC increased its holdings in shares of Microchip Technology by 362.2% in the 4th quarter. FORA Capital LLC now owns 243,725 shares of the semiconductor company’s stock worth $13,978,000 after buying an additional 190,990 shares during the last quarter. Dean Capital Management bought a new stake in shares of Microchip Technology in the 4th quarter worth about $1,340,000. Finally, Crestline Management LP lifted its holdings in shares of Microchip Technology by 227.7% in the 4th quarter. Crestline Management LP now owns 65,547 shares of the semiconductor company’s stock valued at $3,759,000 after acquiring an additional 45,547 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction on 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 directly owns 33,272 shares of the company’s stock, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is owned by insiders.

Microchip Technology Stock Up 12.6 %

Shares of Microchip Technology stock opened at $55.33 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The stock has a market cap of $29.76 billion, a price-to-earnings ratio of 98.80 and a beta of 1.42. The firm’s 50-day moving average is $47.06 and its two-hundred day moving average is $56.44. Microchip Technology Incorporated has a 1 year low of $34.13 and a 1 year high of $100.57.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. The company had revenue of $970.50 million for the quarter, compared to analyst estimates of $962.86 million. Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. Microchip Technology’s revenue was down 26.8% compared to the same quarter last year. During the same period last year, the company posted $0.57 earnings per share. As a group, research analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 22nd will be given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Thursday, May 22nd. Microchip Technology’s payout ratio is currently -18,200.00%.

Analyst Ratings Changes

Several brokerages have weighed in on MCHP. B. Riley boosted their price objective on Microchip Technology from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday. TD Cowen increased their price target on Microchip Technology from $35.00 to $55.00 and gave the company a “hold” rating in a report on Friday. UBS Group lifted their price objective on shares of Microchip Technology from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday. StockNews.com downgraded shares of Microchip Technology from a “hold” rating to a “sell” rating in a research note on Monday, February 10th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $65.00 price target (down from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $67.42.

Microchip Technology 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.