Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by J. Goldman & Co LP

J. Goldman & Co LP lessened its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 80.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,432 shares of the semiconductor company’s stock after selling 97,334 shares during the quarter. J. Goldman & Co LP’s holdings in Microchip Technology were worth $1,344,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pallas Capital Advisors LLC acquired a new stake in Microchip Technology during the fourth quarter valued at $5,917,000. Consolidated Planning Corp acquired a new stake in Microchip Technology during the fourth quarter valued at $308,000. one8zero8 LLC acquired a new stake in Microchip Technology during the fourth quarter valued at $384,000. Symphony Financial Ltd. Co. acquired a new stake in Microchip Technology during the fourth quarter valued at $520,000. Finally, Truist Financial Corp grew its position in Microchip Technology by 5.8% during the fourth quarter. Truist Financial Corp now owns 959,439 shares of the semiconductor company’s stock valued at $55,024,000 after buying an additional 52,222 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MCHP shares. Morgan Stanley increased their price objective on shares of Microchip Technology from $39.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday. Stifel Nicolaus increased their price objective on shares of Microchip Technology from $60.00 to $70.00 and gave the company a “buy” rating in a report on Friday. B. Riley increased their price objective on shares of Microchip Technology from $60.00 to $75.00 and gave the company a “buy” rating in a report on Friday. Bank of America raised shares of Microchip Technology from an “underperform” rating to a “neutral” rating and set a $56.00 price objective on the stock in a report on Friday. Finally, Evercore ISI increased their price objective on shares of Microchip Technology from $65.00 to $71.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $67.42.

Insiders Place Their Bets

In other news, CFO James Eric Bjornholt sold 3,724 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,025,599.36. The trade was a 10.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.10% of the stock is owned by insiders.

Microchip Technology Price Performance

Shares of MCHP stock opened at $55.33 on Monday. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The firm’s 50-day moving average is $47.06 and its two-hundred day moving average is $56.31. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $100.57. The company has a market capitalization of $29.76 billion, a PE ratio of 98.80 and a beta of 1.42.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, May 8th. The semiconductor company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. The company had revenue of $970.50 million for the quarter, compared to the consensus estimate of $962.86 million. During the same period in the previous year, the firm earned $0.57 earnings per share. Microchip Technology’s quarterly revenue was down 26.8% compared to the same quarter last year. Analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd will be paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Thursday, May 22nd. Microchip Technology’s dividend payout ratio (DPR) is presently -18,200.00%.

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.