Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. decreased its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 17.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,372 shares of the semiconductor company’s stock after selling 292 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Microchip Technology were worth $79,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MCHP. Prospera Private Wealth LLC acquired a new position in Microchip Technology during the 3rd quarter worth approximately $29,000. Peterson Financial Group Inc. purchased a new stake in shares of Microchip Technology during the third quarter valued at approximately $34,000. Truvestments Capital LLC acquired a new position in shares of Microchip Technology during the third quarter worth $34,000. Wolff Wiese Magana LLC boosted its stake in shares of Microchip Technology by 55.2% in the third quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 218 shares during the period. Finally, Hobbs Group Advisors LLC grew its holdings in Microchip Technology by 390.6% during the 3rd quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Trading Up 1.9 %

Microchip Technology stock opened at $59.57 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88. Microchip Technology Incorporated has a 1 year low of $54.47 and a 1 year high of $100.57. The firm’s 50-day moving average is $60.53 and its 200-day moving average is $72.98. The company has a market cap of $31.99 billion, a P/E ratio of 41.66 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. Microchip Technology’s revenue was down 48.4% on a year-over-year basis. During the same quarter last year, the company posted $1.54 earnings per share. On average, equities analysts expect that Microchip Technology Incorporated will post 1.31 earnings per share for the current year.

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were paid a dividend of $0.455 per share. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Friday, November 22nd. Microchip Technology’s dividend payout ratio is presently 127.27%.

Analyst Ratings Changes

A number of equities analysts have commented on MCHP shares. The Goldman Sachs Group cut their price objective on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. TD Cowen cut their price target on Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Rosenblatt Securities reissued a “buy” rating and issued a $90.00 price target on shares of Microchip Technology in a report on Wednesday, November 6th. Piper Sandler dropped their price objective on Microchip Technology from $100.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. Finally, Bank of America cut Microchip Technology from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $80.00 to $65.00 in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus price target of $85.00.

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.