Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by National Pension Service

National Pension Service lessened its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 35.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 773,396 shares of the semiconductor company’s stock after selling 433,794 shares during the period. National Pension Service owned about 0.14% of Microchip Technology worth $44,354,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pallas Capital Advisors LLC acquired a new stake in shares of Microchip Technology during the 4th quarter valued at $5,917,000. Consolidated Planning Corp purchased a new stake in shares of Microchip Technology in the fourth quarter valued at $308,000. Quadrature Capital Ltd purchased a new stake in shares of Microchip Technology in the third quarter valued at $3,312,000. Symphony Financial Ltd. Co. acquired a new stake in shares of Microchip Technology in the fourth quarter worth $520,000. Finally, Benjamin Edwards Inc. boosted its position in shares of Microchip Technology by 5,185.4% in the third quarter. Benjamin Edwards Inc. now owns 9,408 shares of the semiconductor company’s stock worth $755,000 after buying an additional 9,230 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Price Performance

Shares of NASDAQ:MCHP opened at $57.12 on Friday. Microchip Technology Incorporated has a fifty-two week low of $50.21 and a fifty-two week high of $100.57. The business has a 50-day moving average of $56.87 and a two-hundred day moving average of $67.64. The stock has a market capitalization of $30.72 billion, a P/E ratio of 102.00 and a beta of 1.50. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. On average, equities research analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Monday, February 24th will be given a $0.455 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.19%. Microchip Technology’s dividend payout ratio is currently 325.00%.

Wall Street Analyst Weigh In

Several analysts have recently commented on MCHP shares. KeyCorp decreased their target price on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. Susquehanna decreased their target price on Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, November 6th. Raymond James reaffirmed a “strong-buy” rating and issued a $60.00 target price (down previously from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. Bank of America cut Microchip Technology from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $80.00 to $65.00 in a research report on Monday, December 16th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $95.00 target price (down previously from $101.00) on shares of Microchip Technology in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.11.

Insiders Place Their Bets

In other news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the transaction, the chief financial officer now directly owns 33,272 shares in the company, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.10% of the company’s stock.

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.