Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Jensen Investment Management Inc.

Jensen Investment Management Inc. reduced its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 17.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 38,850 shares of the semiconductor company’s stock after selling 8,000 shares during the quarter. Jensen Investment Management Inc.’s holdings in Microchip Technology were worth $2,228,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp increased its stake in Microchip Technology by 39.3% in the 4th quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company’s stock valued at $636,184,000 after buying an additional 3,131,807 shares during the period. Franklin Resources Inc. increased its stake in Microchip Technology by 30.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company’s stock valued at $264,430,000 after buying an additional 776,408 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Microchip Technology by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,143,769 shares of the semiconductor company’s stock valued at $180,295,000 after buying an additional 116,823 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Microchip Technology by 9,901.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock worth $163,886,000 after purchasing an additional 2,829,082 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Microchip Technology by 20.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,751,987 shares of the semiconductor company’s stock worth $220,957,000 after purchasing an additional 460,697 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Trading Up 3.1 %

NASDAQ MCHP opened at $53.50 on Monday. Microchip Technology Incorporated has a 12 month low of $50.21 and a 12 month high of $100.57. The company has a 50-day moving average of $56.51 and a 200-day moving average of $65.58. 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 company has a market cap of $28.77 billion, a P/E ratio of 95.54 and a beta of 1.52.

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

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date was Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is presently 325.00%.

Insider Buying and Selling

In related news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the sale, the chief financial officer now owns 33,272 shares of the company’s stock, valued at approximately $2,025,599.36. This represents a 10.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on MCHP. Stifel Nicolaus decreased their target price on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, December 3rd. Piper Sandler restated an “overweight” rating and set a $65.00 target price (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. TD Cowen boosted their target price on shares of Microchip Technology from $50.00 to $60.00 and gave the stock a “hold” rating in a research report on Tuesday, March 4th. Raymond James restated a “strong-buy” rating and set a $60.00 target price (down from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. Finally, Mizuho boosted their target price on shares of Microchip Technology from $58.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.37.

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.