Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Schechter Investment Advisors LLC

Schechter Investment Advisors LLC decreased its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,566 shares of the semiconductor company’s stock after selling 347 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Microchip Technology were worth $1,223,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Tectonic Advisors LLC increased its stake in shares of Microchip Technology by 5.6% in the fourth quarter. Tectonic Advisors LLC now owns 14,567 shares of the semiconductor company’s stock valued at $1,314,000 after purchasing an additional 775 shares during the period. Bar Harbor Wealth Management acquired a new stake in shares of Microchip Technology in the fourth quarter valued at approximately $216,000. Assenagon Asset Management S.A. increased its stake in shares of Microchip Technology by 1,082.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 715,875 shares of the semiconductor company’s stock valued at $64,558,000 after purchasing an additional 655,332 shares during the period. Fort Washington Investment Advisors Inc. OH increased its stake in shares of Microchip Technology by 1.9% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 89,915 shares of the semiconductor company’s stock valued at $8,109,000 after purchasing an additional 1,700 shares during the period. Finally, Armstrong Advisory Group Inc. increased its stake in shares of Microchip Technology by 682.2% in the fourth quarter. Armstrong Advisory Group Inc. now owns 1,056 shares of the semiconductor company’s stock valued at $95,000 after purchasing an additional 921 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MCHP shares. Piper Sandler lowered shares of Microchip Technology from an “overweight” rating to a “neutral” rating and set a $80.00 price target on the stock. in a research note on Thursday, January 4th. UBS Group lowered their price objective on shares of Microchip Technology from $105.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. TD Cowen raised their price objective on shares of Microchip Technology from $75.00 to $80.00 and gave the company a “market perform” rating in a research note on Friday, February 2nd. The Goldman Sachs Group lowered their price objective on shares of Microchip Technology from $87.00 to $77.00 and set a “neutral” rating on the stock in a research note on Friday, February 2nd. Finally, Wolfe Research upgraded shares of Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 price objective on the stock in a research note on Thursday, January 18th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $91.33.

Insider Buying and Selling

In related news, Director Karlton D. Johnson sold 370 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total value of $31,080.00. Following the completion of the transaction, the director now owns 1,789 shares of the company’s stock, valued at approximately $150,276. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Microchip Technology news, CFO James Eric Bjornholt sold 1,970 shares of Microchip Technology stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $83.90, for a total transaction of $165,283.00. Following the completion of the sale, the chief financial officer now owns 32,893 shares of the company’s stock, valued at approximately $2,759,722.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Karlton D. Johnson sold 370 shares of Microchip Technology stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total transaction of $31,080.00. Following the sale, the director now directly owns 1,789 shares of the company’s stock, valued at approximately $150,276. The disclosure for this sale can be found here. Company insiders own 2.07% of the company’s stock.

Microchip Technology Trading Up 3.4 %

Shares of NASDAQ:MCHP opened at $89.19 on Thursday. The stock has a market capitalization of $48.20 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 1.54 and a beta of 1.65. Microchip Technology Incorporated has a 1-year low of $68.75 and a 1-year high of $94.30. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 0.98. The company has a 50 day moving average price of $86.19 and a 200 day moving average price of $83.13.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the business posted $1.48 EPS. The company’s revenue was down 18.6% on a year-over-year basis. On average, research analysts anticipate that Microchip Technology Incorporated will post 4.64 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were paid a $0.45 dividend. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 22nd. This represents a $1.80 dividend on an annualized basis and a yield of 2.02%. Microchip Technology’s dividend payout ratio (DPR) is currently 42.06%.

Microchip Technology Profile

Microchip Technology Incorporated develops, manufactures, and sells 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 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.