Microchip Technology Inc. (NASDAQ:MCHP) Shares Sold by Wasatch Advisors Inc.

Wasatch Advisors Inc. decreased its position in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 42.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,100 shares of the semiconductor company’s stock after selling 10,441 shares during the period. Wasatch Advisors Inc.’s holdings in Microchip Technology were worth $1,239,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Keel Point LLC boosted its position in Microchip Technology by 3.3% in the second quarter. Keel Point LLC now owns 3,694 shares of the semiconductor company’s stock valued at $285,000 after buying an additional 119 shares in the last quarter. QS Investors LLC boosted its position in Microchip Technology by 6.5% in the second quarter. QS Investors LLC now owns 2,999 shares of the semiconductor company’s stock valued at $231,000 after buying an additional 182 shares in the last quarter. Veritable L.P. boosted its position in Microchip Technology by 15.6% in the second quarter. Veritable L.P. now owns 3,883 shares of the semiconductor company’s stock valued at $300,000 after buying an additional 524 shares in the last quarter. Flinton Capital Management LLC boosted its position in Microchip Technology by 4.7% in the second quarter. Flinton Capital Management LLC now owns 12,000 shares of the semiconductor company’s stock valued at $926,000 after buying an additional 544 shares in the last quarter. Finally, First United Bank Trust boosted its position in Microchip Technology by 2.5% in the third quarter. First United Bank Trust now owns 23,470 shares of the semiconductor company’s stock valued at $2,107,000 after buying an additional 575 shares in the last quarter.

In related news, CFO James Eric Bjornholt sold 1,801 shares of Microchip Technology stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $91.66, for a total transaction of $165,079.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Stephen V. Drehobl sold 2,852 shares of Microchip Technology stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $91.66, for a total transaction of $261,414.32. Following the transaction, the vice president now directly owns 15,767 shares of the company’s stock, valued at approximately $1,445,203.22. The disclosure for this sale can be found here. 2.13% of the stock is owned by company insiders.

A number of analysts have weighed in on the stock. Morgan Stanley cut their target price on shares of Microchip Technology from $99.00 to $96.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Argus restated a “buy” rating and issued a $90.00 target price (up previously from $79.90) on shares of Microchip Technology in a research report on Friday. Bank of America cut their target price on shares of Microchip Technology from $120.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday. BidaskClub lowered shares of Microchip Technology from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 26th. Finally, B. Riley restated a “buy” rating and issued a $123.00 target price (up previously from $120.00) on shares of Microchip Technology in a research report on Tuesday, November 7th. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $102.35.

Shares of Microchip Technology Inc. (MCHP) traded up $1.14 during trading hours on Friday, hitting $81.04. 5,423,879 shares of the stock were exchanged, compared to its average volume of 3,263,647. The firm has a market capitalization of $18,991.16, a price-to-earnings ratio of 83.55, a PEG ratio of 1.08 and a beta of 1.05. The company has a current ratio of 2.98, a quick ratio of 2.71 and a debt-to-equity ratio of 0.95. Microchip Technology Inc. has a 52 week low of $69.76 and a 52 week high of $99.17.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.01. Microchip Technology had a net margin of 6.33% and a return on equity of 36.54%. The company had revenue of $994.10 million for the quarter, compared to analyst estimates of $992.10 million. During the same quarter in the previous year, the business earned $1.05 earnings per share. Microchip Technology’s revenue was up 19.1% compared to the same quarter last year. research analysts anticipate that Microchip Technology Inc. will post 5.13 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Wednesday, February 21st will be paid a dividend of $0.363 per share. This represents a $1.45 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Tuesday, February 20th. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s dividend payout ratio (DPR) is currently 149.49%.

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Microchip Technology Company Profile

Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The Company operates through two segments: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, manufactures and markets microcontrollers, development tools and analog, interface, mixed signal and timing products.

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

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