Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Jensen Investment Management Inc.

Jensen Investment Management Inc. decreased its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 17.1% in the 4th quarter, Holdings Channel reports. The fund owned 38,850 shares of the semiconductor company’s stock after selling 8,000 shares during the period. Jensen Investment Management Inc.’s holdings in Microchip Technology were worth $2,228,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of MCHP. Metis Global Partners LLC boosted its stake in shares of Microchip Technology by 1.0% during the 3rd quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company’s stock valued at $1,378,000 after buying an additional 172 shares during the last quarter. Coldstream Capital Management Inc. boosted its stake in shares of Microchip Technology by 2.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 11,052 shares of the semiconductor company’s stock valued at $878,000 after buying an additional 260 shares during the last quarter. EP Wealth Advisors LLC boosted its stake in shares of Microchip Technology by 1.8% during the 3rd quarter. EP Wealth Advisors LLC now owns 14,725 shares of the semiconductor company’s stock valued at $1,182,000 after buying an additional 264 shares during the last quarter. Lebenthal Global Advisors LLC lifted its stake in Microchip Technology by 7.3% during the fourth quarter. Lebenthal Global Advisors LLC now owns 3,894 shares of the semiconductor company’s stock worth $223,000 after purchasing an additional 266 shares during the last quarter. Finally, Leelyn Smith LLC boosted its holdings in Microchip Technology by 2.2% in the third quarter. Leelyn Smith LLC now owns 12,401 shares of the semiconductor company’s stock worth $996,000 after purchasing an additional 268 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Price Performance

Shares of NASDAQ MCHP opened at $53.50 on Monday. Microchip Technology Incorporated has a fifty-two week low of $50.21 and a fifty-two week high of $100.57. The firm’s 50-day simple moving average is $56.51 and its 200 day simple moving average is $65.58. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. The stock has a market cap of $28.77 billion, a P/E ratio of 95.54 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. Equities analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were given a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is presently 325.00%.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the sale, the chief financial officer now directly owns 33,272 shares in the company, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on MCHP shares. Raymond James reaffirmed a “strong-buy” rating and issued a $60.00 price objective (down previously from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $65.00 price objective (down previously from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Mizuho lifted their price objective on shares of Microchip Technology from $58.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Microchip Technology in a report on Tuesday, March 4th. Finally, Evercore ISI lifted their price objective on shares of Microchip Technology from $65.00 to $71.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $74.37.

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.