Lindbrook Capital LLC Reduces Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Lindbrook Capital LLC lessened its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 22.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,238 shares of the semiconductor company’s stock after selling 350 shares during the period. Lindbrook Capital LLC’s holdings in Microchip Technology were worth $112,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Horizon Bancorp Inc. IN purchased a new position in shares of Microchip Technology during the 4th quarter valued at $110,000. Rockline Wealth Management LLC bought a new stake in shares of Microchip Technology during the 4th quarter valued at $4,449,000. 17 Capital Partners LLC bought a new stake in shares of Microchip Technology during the 4th quarter valued at $1,827,000. AIA Group Ltd raised its stake in shares of Microchip Technology by 80.4% during the 4th quarter. AIA Group Ltd now owns 29,910 shares of the semiconductor company’s stock valued at $2,697,000 after purchasing an additional 13,326 shares during the period. Finally, GAM Holding AG raised its stake in shares of Microchip Technology by 13.9% during the 4th quarter. GAM Holding AG now owns 145,575 shares of the semiconductor company’s stock valued at $13,128,000 after purchasing an additional 17,776 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 1,970 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total value of $165,283.00. Following the completion of the sale, the chief financial officer now owns 32,893 shares in the company, valued at approximately $2,759,722.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Microchip Technology news, CFO James Eric Bjornholt sold 1,970 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total value of $165,283.00. Following the completion of the sale, the chief financial officer now owns 32,893 shares in the company, valued at approximately $2,759,722.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Karlton D. Johnson sold 370 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total value of $31,080.00. Following the completion of the sale, the director now 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.

Analysts Set New Price Targets

A number of analysts recently issued reports on MCHP shares. TD Cowen boosted their price objective on Microchip Technology from $75.00 to $80.00 and gave the company a “market perform” rating in a research note on Friday, February 2nd. StockNews.com lowered Microchip Technology from a “buy” rating to a “hold” rating in a research note on Friday, December 29th. Stifel Nicolaus upped their target price on Microchip Technology from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Truist Financial decreased their target price on Microchip Technology from $97.00 to $93.00 and set a “buy” rating on the stock in a research note on Tuesday, January 9th. Finally, Needham & Company LLC upped their target price on Microchip Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.50.

Microchip Technology Trading Up 3.2 %

Shares of MCHP stock opened at $86.19 on Wednesday. The stock has a market capitalization of $46.58 billion, a PE ratio of 20.14, a P/E/G ratio of 2.55 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 business has a 50-day moving average of $86.61 and a 200 day moving average of $84.46. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.58.

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. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. Microchip Technology’s quarterly revenue was down 18.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.48 EPS. As a group, sell-side analysts anticipate that Microchip Technology Incorporated will post 4.64 earnings per share for the current year.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were issued a $0.45 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $1.80 annualized dividend and a yield of 2.09%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.44. Microchip Technology’s dividend payout ratio (DPR) 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.