Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by SVB Wealth LLC

SVB Wealth LLC lessened its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 4.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 81,988 shares of the semiconductor company’s stock after selling 4,266 shares during the quarter. SVB Wealth LLC’s holdings in Microchip Technology were worth $7,394,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. OFI Invest Asset Management acquired a new stake in shares of Microchip Technology during the third quarter worth $26,000. BKM Wealth Management LLC acquired a new stake in shares of Microchip Technology during the fourth quarter worth $27,000. Fortitude Family Office LLC acquired a new stake in shares of Microchip Technology during the fourth quarter worth $29,000. Almanack Investment Partners LLC. acquired a new stake in shares of Microchip Technology during the third quarter worth $29,000. Finally, Live Oak Investment Partners acquired a new stake in shares of Microchip Technology during the fourth quarter worth $30,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Stock Up 0.3 %

Shares of NASDAQ MCHP opened at $85.93 on Wednesday. Microchip Technology Incorporated has a 1 year low of $68.75 and a 1 year high of $94.30. The firm has a market cap of $46.44 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 2.62 and a beta of 1.65. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 0.98. The stock’s 50-day simple moving average is $86.55 and its 200-day simple moving average is $84.24.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the company earned $1.48 earnings per share. The company’s revenue for the quarter was down 18.6% compared to the same quarter last year. As a group, equities analysts anticipate that Microchip Technology Incorporated will post 4.64 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.09%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 22nd. Microchip Technology’s payout ratio is presently 42.06%.

Insider Transactions at Microchip Technology

In related news, Director Karlton D. Johnson sold 370 shares of Microchip Technology stock in a transaction dated 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 in the company, valued at $150,276. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO James Eric Bjornholt sold 1,970 shares of Microchip Technology stock in a transaction dated 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 transaction, the chief financial officer now directly owns 32,893 shares in the company, valued at $2,759,722.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karlton D. Johnson sold 370 shares of Microchip Technology stock in a transaction dated 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 owns 1,789 shares of the company’s stock, valued at $150,276. The disclosure for this sale can be found here. Corporate insiders own 2.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MCHP shares. Needham & Company LLC lifted their target price on Microchip Technology from $85.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 2nd. UBS Group reduced their target price on Microchip Technology from $105.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, February 2nd. Evercore ISI started coverage on Microchip Technology in a report on Tuesday. They issued an “outperform” rating and a $106.00 target price on the stock. Truist Financial reduced their target price on Microchip Technology from $97.00 to $93.00 and set a “buy” rating on the stock in a report on Tuesday, January 9th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $94.00 target price on shares of Microchip Technology in a report on Thursday, March 14th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $92.25.

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.