Greenleaf Trust Sells 178 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Greenleaf Trust trimmed its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 0.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,604 shares of the semiconductor company’s stock after selling 178 shares during the quarter. Greenleaf Trust’s holdings in Microchip Technology were worth $2,216,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC bought a new position in shares of Microchip Technology during the first quarter valued at about $39,000. Richardson Capital Management LLC bought a new position in Microchip Technology during the 1st quarter valued at approximately $45,000. Versant Capital Management Inc lifted its holdings in Microchip Technology by 148.8% in the 2nd quarter. Versant Capital Management Inc now owns 530 shares of the semiconductor company’s stock worth $48,000 after buying an additional 317 shares during the period. Wolff Wiese Magana LLC grew its position in shares of Microchip Technology by 55.2% in the 3rd quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock worth $49,000 after buying an additional 218 shares during the last quarter. Finally, GoalVest Advisory LLC increased its stake in shares of Microchip Technology by 49.8% during the first quarter. GoalVest Advisory LLC now owns 602 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 200 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO James Eric Bjornholt sold 2,154 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $81.50, for a total transaction of $175,551.00. Following the completion of the sale, the chief financial officer now owns 33,257 shares in the company, valued at approximately $2,710,445.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Piper Sandler raised Microchip Technology from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $90.00 to $100.00 in a research note on Friday, August 16th. Susquehanna cut their price objective on Microchip Technology from $105.00 to $95.00 and set a “positive” rating on the stock in a research report on Monday. Rosenblatt Securities reiterated a “buy” rating and set a $100.00 target price on shares of Microchip Technology in a report on Wednesday, July 31st. JPMorgan Chase & Co. dropped their price target on Microchip Technology from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, StockNews.com upgraded Microchip Technology from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $97.89.

Microchip Technology Trading Down 0.2 %

Shares of NASDAQ:MCHP opened at $75.27 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.94 and a quick ratio of 1.08. Microchip Technology Incorporated has a 1 year low of $68.75 and a 1 year high of $100.57. The company has a market cap of $40.38 billion, a P/E ratio of 21.69 and a beta of 1.52. The stock’s fifty day moving average price is $78.13 and its 200-day moving average price is $85.90.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, August 1st. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.01. Microchip Technology had a net margin of 20.80% and a return on equity of 28.33%. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the prior year, the business earned $1.56 EPS. The business’s revenue for the quarter was down 45.8% compared to the same quarter last year. Sell-side analysts expect that Microchip Technology Incorporated will post 1.73 earnings per share for the current year.

Microchip Technology Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were given a $0.454 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Thursday, August 22nd. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s payout ratio is 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.