Microchip Technology Incorporated (NASDAQ:MCHP) Stock Holdings Lowered by STF Management LP

STF Management LP lowered its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 4.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 8,550 shares of the semiconductor company’s stock after selling 361 shares during the period. STF Management LP’s holdings in Microchip Technology were worth $782,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of MCHP. Swedbank AB acquired a new stake in Microchip Technology in the first quarter worth about $1,079,000. Caxton Associates LP lifted its holdings in Microchip Technology by 4,511.5% in the fourth quarter. Caxton Associates LP now owns 400,000 shares of the semiconductor company’s stock worth $36,072,000 after purchasing an additional 391,326 shares during the period. SageView Advisory Group LLC lifted its holdings in Microchip Technology by 507.5% in the first quarter. SageView Advisory Group LLC now owns 17,307 shares of the semiconductor company’s stock worth $1,553,000 after purchasing an additional 14,458 shares during the period. RFG Advisory LLC lifted its holdings in Microchip Technology by 228.4% in the first quarter. RFG Advisory LLC now owns 12,841 shares of the semiconductor company’s stock worth $1,152,000 after purchasing an additional 8,931 shares during the period. Finally, Hennessy Advisors Inc. lifted its holdings in Microchip Technology by 2,194.5% in the first quarter. Hennessy Advisors Inc. now owns 33,454 shares of the semiconductor company’s stock worth $3,001,000 after purchasing an additional 31,996 shares during the period. Institutional investors own 91.51% of the company’s stock.

Insider Activity

In other news, CFO James Eric Bjornholt sold 2,154 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $81.50, for a total value of $175,551.00. Following the transaction, the chief financial officer now owns 33,257 shares in the company, valued at approximately $2,710,445.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.07% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Microchip Technology from $110.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price target on shares of Microchip Technology in a report on Wednesday, July 31st. Citigroup cut their price target on shares of Microchip Technology from $104.00 to $92.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Morgan Stanley downgraded shares of Microchip Technology from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $102.00 to $100.00 in a report on Thursday, July 11th. Finally, Bank of America downgraded shares of Microchip Technology from a “buy” rating to a “neutral” rating and cut their price target for the company from $110.00 to $90.00 in a report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $99.95.

Microchip Technology Price Performance

NASDAQ MCHP opened at $77.00 on Tuesday. The company has a market cap of $41.31 billion, a PE ratio of 22.19 and a beta of 1.53. Microchip Technology Incorporated has a 1 year low of $68.75 and a 1 year high of $100.57. The company has a current ratio of 1.94, a quick ratio of 1.08 and a debt-to-equity ratio of 0.96. The stock’s 50-day moving average price is $82.43 and its two-hundred day moving average price is $88.01.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, August 1st. The semiconductor company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. Microchip Technology had a return on equity of 28.33% and a net margin of 20.80%. The firm’s quarterly revenue was down 45.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.56 EPS. On average, analysts predict that Microchip Technology Incorporated will post 1.74 EPS for the current year.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were issued a $0.454 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.36%. Microchip Technology’s dividend payout ratio is currently 52.16%.

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.