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 institutional investors and hedge funds have also recently bought and sold shares of the business. Halpern Financial Inc. boosted its holdings in Microchip Technology by 83.5% during the second quarter. Halpern Financial Inc. now owns 290 shares of the semiconductor company’s stock worth $26,000 after buying an additional 132 shares in the last quarter. BKM Wealth Management LLC bought a new stake in Microchip Technology during the fourth quarter worth approximately $27,000. Fortitude Family Office LLC bought a new stake in Microchip Technology during the fourth quarter worth approximately $29,000. OFI Invest Asset Management acquired a new position in Microchip Technology in the 3rd quarter worth approximately $26,000. Finally, VitalStone Financial LLC acquired a new position in Microchip Technology in the 1st quarter worth approximately $38,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Buying and Selling at Microchip Technology

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

Analysts Set New Price Targets

A number of equities analysts recently commented on MCHP shares. StockNews.com lowered shares of Microchip Technology from a “buy” rating to a “hold” rating in a research note on Friday, December 29th. UBS Group decreased their price objective on shares of Microchip Technology from $105.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, February 2nd. Truist Financial decreased their price objective on shares of Microchip Technology from $97.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, January 9th. The Goldman Sachs Group decreased their price objective on shares of Microchip Technology from $87.00 to $77.00 and set a “neutral” rating for the company in a research note on Friday, February 2nd. Finally, Piper Sandler lowered shares of Microchip Technology from an “overweight” rating to a “neutral” rating and set a $80.00 target price for the company. in a research note on Thursday, January 4th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.33.

Microchip Technology Stock Performance

Shares of MCHP opened at $89.19 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.58. The company has a market capitalization of $48.20 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 1.54 and a beta of 1.65. The company’s fifty day moving average price is $86.19 and its 200 day moving average price is $83.13. Microchip Technology Incorporated has a one year low of $68.75 and a one year high of $94.30.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.04. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the business earned $1.48 EPS. The firm’s revenue was down 18.6% on a year-over-year basis. As a group, analysts expect that Microchip Technology Incorporated will post 4.64 earnings per share for the current year.

Microchip Technology Increases Dividend

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