Shaker Investments LLC OH Sells 5,197 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Shaker Investments LLC OH lessened its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 21.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,470 shares of the semiconductor company’s stock after selling 5,197 shares during the quarter. Shaker Investments LLC OH’s holdings in Microchip Technology were worth $1,117,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MCHP. Essex Financial Services Inc. lifted its position in shares of Microchip Technology by 19.9% in the fourth quarter. Essex Financial Services Inc. now owns 4,891 shares of the semiconductor company’s stock worth $280,000 after buying an additional 813 shares in the last quarter. Four Tree Island Advisory LLC bought a new position in shares of Microchip Technology during the 4th quarter valued at approximately $385,000. Savant Capital LLC grew its holdings in shares of Microchip Technology by 11.5% in the fourth quarter. Savant Capital LLC now owns 6,158 shares of the semiconductor company’s stock valued at $353,000 after purchasing an additional 636 shares in the last quarter. Stephens Investment Management Group LLC increased its position in Microchip Technology by 31.5% in the fourth quarter. Stephens Investment Management Group LLC now owns 685,455 shares of the semiconductor company’s stock worth $39,311,000 after purchasing an additional 164,254 shares during the last quarter. Finally, Thompson Investment Management Inc. raised its stake in Microchip Technology by 3,762.1% during the fourth quarter. Thompson Investment Management Inc. now owns 82,841 shares of the semiconductor company’s stock valued at $4,751,000 after purchasing an additional 80,696 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MCHP shares. Citigroup dropped their price objective on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Piper Sandler reissued an “overweight” rating and issued a $65.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research note on Friday. B. Riley reaffirmed a “buy” rating and set a $75.00 target price (down previously from $85.00) on shares of Microchip Technology in a research report on Friday. Rosenblatt Securities restated a “buy” rating and set a $90.00 price objective on shares of Microchip Technology in a research note on Thursday, February 6th. Finally, The Goldman Sachs Group cut their target price on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $77.11.

Microchip Technology Trading Up 0.3 %

Shares of MCHP stock opened at $52.05 on Tuesday. The stock has a 50 day simple moving average of $57.71 and a 200-day simple moving average of $69.72. Microchip Technology Incorporated has a 1-year low of $50.21 and a 1-year high of $100.57. The company has a market cap of $27.95 billion, a price-to-earnings ratio of 92.95 and a beta of 1.50. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.41%. On average, equities research analysts expect that Microchip Technology Incorporated will post 1.3 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Monday, February 24th. Microchip Technology’s payout ratio is 325.00%.

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.