West Oak Capital LLC Has $76,000 Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

West Oak Capital LLC reduced its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 50.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 882 shares of the semiconductor company’s stock after selling 898 shares during the period. West Oak Capital LLC’s holdings in Microchip Technology were worth $76,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in MCHP. Halpern Financial Inc. grew its position in shares of Microchip Technology by 83.5% during the 2nd quarter. Halpern Financial Inc. now owns 290 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 132 shares in the last quarter. BKM Wealth Management LLC acquired a new stake in Microchip Technology during the fourth quarter worth approximately $27,000. Fortitude Family Office LLC bought a new position in Microchip Technology during the 4th quarter worth $29,000. OFI Invest Asset Management acquired a new position in Microchip Technology in the 3rd quarter valued at $26,000. Finally, VitalStone Financial LLC bought a new stake in shares of Microchip Technology during the 1st quarter valued at $38,000. 91.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on MCHP shares. Rosenblatt Securities restated a “buy” rating and issued a $100.00 price target on shares of Microchip Technology in a research report on Tuesday, January 30th. TD Cowen upped their price target on shares of Microchip Technology from $75.00 to $80.00 and gave the stock a “market perform” rating in a report on Friday, February 2nd. StockNews.com lowered shares of Microchip Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 29th. Needham & Company LLC boosted their price objective on shares of Microchip Technology from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $94.00 target price on shares of Microchip Technology in a report on Thursday, March 14th. 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, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average price target of $91.33.

Microchip Technology Stock Up 0.4 %

Shares of MCHP traded up $0.32 during trading hours on Thursday, hitting $89.51. The stock had a trading volume of 778,321 shares, compared to its average volume of 5,740,914. Microchip Technology Incorporated has a 1-year low of $68.75 and a 1-year high of $94.30. The firm has a market capitalization of $48.37 billion, a P/E ratio of 20.84, a price-to-earnings-growth ratio of 1.54 and a beta of 1.65. The firm has a 50 day simple moving average of $86.19 and a 200-day simple moving average of $83.13. 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 released its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.04 by $0.04. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the company posted $1.48 earnings per share. The company’s quarterly revenue was down 18.6% on a year-over-year basis. Sell-side analysts predict that Microchip Technology Incorporated will post 4.64 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Thursday, February 22nd. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.44. Microchip Technology’s dividend payout ratio is currently 42.06%.

Insider Activity at Microchip Technology

In other news, 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 directly owns 1,789 shares of the company’s stock, valued at $150,276. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Karlton D. Johnson sold 370 shares of the company’s 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 transaction, the director now directly owns 1,789 shares of the company’s stock, valued at $150,276. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO James Eric Bjornholt sold 1,970 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $83.90, for a total value of $165,283.00. Following the sale, the chief financial officer now directly owns 32,893 shares of the company’s stock, valued at $2,759,722.70. The disclosure for this sale can be found here. 2.07% of the stock is owned by insiders.

About Microchip Technology

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.