Hosking Partners LLP Has $4.55 Million Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Hosking Partners LLP lowered its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 13.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 79,259 shares of the semiconductor company’s stock after selling 12,586 shares during the period. Hosking Partners LLP’s holdings in Microchip Technology were worth $4,546,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Prospera Private Wealth LLC acquired a new stake in shares of Microchip Technology in the third quarter valued at approximately $29,000. Financial Life Planners bought a new stake in shares of Microchip Technology during the fourth quarter worth $32,000. Peterson Financial Group Inc. acquired a new position in shares of Microchip Technology during the third quarter valued at $34,000. Truvestments Capital LLC bought a new position in Microchip Technology in the third quarter valued at about $34,000. Finally, Hobbs Group Advisors LLC increased its position in Microchip Technology by 390.6% in the third quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 500 shares during the period. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Trading Down 4.4 %

MCHP opened at $57.12 on Friday. The stock has a market capitalization of $30.72 billion, a P/E ratio of 102.00 and a beta of 1.50. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. Microchip Technology Incorporated has a 12 month low of $50.21 and a 12 month high of $100.57. The firm’s fifty day simple moving average is $56.87 and its 200 day simple moving average is $67.64.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS 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%. As a group, research analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is currently 325.00%.

Insider Buying and Selling at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the completion of the sale, the chief financial officer now owns 33,272 shares of the company’s stock, valued at approximately $2,025,599.36. This represents a 10.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

MCHP has been the topic of several recent research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $65.00 target price (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Jefferies Financial Group dropped their target price on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. B. Riley reaffirmed a “buy” rating and set a $75.00 price objective (down from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. 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. Finally, Bank of America lowered Microchip Technology from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $80.00 to $65.00 in a research report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Microchip Technology has a consensus rating of “Moderate Buy” and a consensus price target of $77.11.

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.