RMR Wealth Builders Sells 901 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

RMR Wealth Builders decreased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 14.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,415 shares of the semiconductor company’s stock after selling 901 shares during the quarter. RMR Wealth Builders’ holdings in Microchip Technology were worth $262,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Federated Hermes Inc. boosted its holdings in shares of Microchip Technology by 0.5% in the 4th quarter. Federated Hermes Inc. now owns 39,298 shares of the semiconductor company’s stock valued at $2,254,000 after purchasing an additional 209 shares in the last quarter. Northwest Bank & Trust Co boosted its holdings in shares of Microchip Technology by 3.0% in the 4th quarter. Northwest Bank & Trust Co now owns 7,392 shares of the semiconductor company’s stock valued at $424,000 after purchasing an additional 217 shares in the last quarter. State of Wyoming boosted its holdings in shares of Microchip Technology by 27.3% during the 4th quarter. State of Wyoming now owns 1,300 shares of the semiconductor company’s stock valued at $75,000 after acquiring an additional 279 shares in the last quarter. CreativeOne Wealth LLC boosted its holdings in shares of Microchip Technology by 1.0% during the 4th quarter. CreativeOne Wealth LLC now owns 28,842 shares of the semiconductor company’s stock valued at $1,654,000 after acquiring an additional 283 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its position in Microchip Technology by 4.7% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 6,859 shares of the semiconductor company’s stock worth $393,000 after acquiring an additional 305 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

MCHP has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating and set a $66.00 price objective on shares of Microchip Technology in a research report on Friday, May 9th. Mizuho boosted their price objective on Microchip Technology from $68.00 to $78.00 and gave the stock an “outperform” rating in a research report on Thursday. Rosenblatt Securities boosted their price objective on Microchip Technology from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, May 30th. 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 report on Friday, May 9th. Finally, Raymond James boosted their price objective on Microchip Technology from $60.00 to $65.00 and gave the stock a “strong-buy” rating in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $69.53.

Insider Buying and Selling

In related news, CFO James Eric Bjornholt sold 2,015 shares of the company’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $55.78, for a total transaction of $112,396.70. Following the transaction, the chief financial officer now directly owns 34,313 shares of the company’s stock, valued at approximately $1,913,979.14. This represents a 5.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karlton D. Johnson sold 494 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $60.69, for a total value of $29,980.86. Following the transaction, the director now directly owns 3,468 shares in the company, valued at approximately $210,472.92. This trade represents a 12.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.

Microchip Technology Stock Down 3.2%

Shares of Microchip Technology stock opened at $65.73 on Friday. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $96.98. 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’s 50-day moving average is $52.78 and its 200 day moving average is $54.99. The firm has a market cap of $35.45 billion, a price-to-earnings ratio of 117.38 and a beta of 1.48.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, May 8th. The semiconductor company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. The company had revenue of $970.50 million for the quarter, compared to analyst estimates of $962.86 million. During the same quarter in the prior year, the company earned $0.57 EPS. The firm’s revenue for the quarter was down 26.8% compared to the same quarter last year. Equities research analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date was Thursday, May 22nd. Microchip Technology’s dividend payout ratio (DPR) is currently -18,200.00%.

Microchip Technology Company 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.