Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Aptus Capital Advisors LLC

Aptus Capital Advisors LLC trimmed its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 4.0% in the third quarter, HoldingsChannel reports. The firm owned 4,857 shares of the semiconductor company’s stock after selling 203 shares during the period. Aptus Capital Advisors LLC’s holdings in Microchip Technology were worth $390,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MCHP. Pathway Financial Advisers LLC acquired a new stake in shares of Microchip Technology in the 1st quarter worth approximately $39,000. Versant Capital Management Inc lifted its stake in shares of Microchip Technology by 148.8% in the 2nd quarter. Versant Capital Management Inc now owns 530 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 317 shares during the period. TruNorth Capital Management LLC acquired a new stake in shares of Microchip Technology in the 2nd quarter worth approximately $55,000. Wolff Wiese Magana LLC raised its holdings in shares of Microchip Technology by 55.2% in the 3rd quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 218 shares in the last quarter. Finally, Family Firm Inc. bought a new stake in shares of Microchip Technology in the 2nd quarter worth approximately $62,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,154 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $81.50, for a total value of $175,551.00. Following the completion of the sale, the chief financial officer now directly owns 33,257 shares of the company’s stock, valued at $2,710,445.50. This represents a 6.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $90.00 target price on shares of Microchip Technology in a report on Wednesday, November 6th. Citigroup cut their price target on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. B. Riley cut their price target on shares of Microchip Technology from $110.00 to $103.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Jefferies Financial Group cut their price target on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, KeyCorp dropped their price objective on shares of Microchip Technology from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $92.00.

Microchip Technology Price Performance

NASDAQ MCHP opened at $62.86 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71. The company has a fifty day simple moving average of $75.88 and a 200 day simple moving average of $84.33. The company has a market cap of $33.76 billion, a P/E ratio of 43.96 and a beta of 1.53. Microchip Technology Incorporated has a 1 year low of $62.63 and a 1 year high of $100.57.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. Microchip Technology’s quarterly revenue was down 48.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.54 EPS. On average, sell-side analysts predict that Microchip Technology Incorporated will post 1.38 EPS for the current year.

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a $0.455 dividend. The ex-dividend date is Friday, November 22nd. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 dividend on an annualized basis and a yield of 2.90%. Microchip Technology’s dividend payout ratio is 127.27%.

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.