Xponance Inc. Sells 1,117 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Xponance Inc. trimmed its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 1.0% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 105,401 shares of the semiconductor company’s stock after selling 1,117 shares during the quarter. Xponance Inc.’s holdings in Microchip Technology were worth $9,505,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. AIA Group Ltd increased its holdings in Microchip Technology by 80.4% in the 4th quarter. AIA Group Ltd now owns 29,910 shares of the semiconductor company’s stock worth $2,697,000 after buying an additional 13,326 shares in the last quarter. Waterfront Wealth Inc. increased its holdings in Microchip Technology by 1.7% in the 4th quarter. Waterfront Wealth Inc. now owns 12,081 shares of the semiconductor company’s stock worth $1,089,000 after buying an additional 203 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Microchip Technology by 0.7% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 68,230 shares of the semiconductor company’s stock worth $6,153,000 after purchasing an additional 500 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Microchip Technology by 0.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 125,536 shares of the semiconductor company’s stock worth $11,321,000 after purchasing an additional 399 shares during the last quarter. Finally, Rakuten Securities Inc. purchased a new position in Microchip Technology in the fourth quarter worth about $27,000. 91.51% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Karlton D. Johnson sold 370 shares of the business’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 transaction of $31,080.00. Following the transaction, the director now owns 1,789 shares of the company’s stock, valued at approximately $150,276. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Karlton D. Johnson sold 370 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total transaction of $31,080.00. Following the completion of the transaction, the director now owns 1,789 shares in the company, valued at approximately $150,276. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James Eric Bjornholt sold 1,970 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 32,893 shares of the company’s stock, valued at approximately $2,759,722.70. The disclosure for this sale can be found here. Corporate insiders own 2.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 target price on shares of Microchip Technology in a research report on Tuesday, January 30th. TD Cowen raised their target price on Microchip Technology from $75.00 to $80.00 and gave the stock a “market perform” rating in a research report on Friday, February 2nd. Piper Sandler cut Microchip Technology from an “overweight” rating to a “neutral” rating and set a $80.00 price objective on the stock. in a research report on Thursday, January 4th. UBS Group lowered their price objective on Microchip Technology from $105.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. Finally, Evercore ISI initiated coverage on Microchip Technology in a research report on Tuesday. They set an “outperform” rating and a $106.00 price objective on the stock. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $92.50.

Microchip Technology Price Performance

NASDAQ:MCHP traded down $0.45 during trading hours on Friday, reaching $83.76. The stock had a trading volume of 321,516 shares, compared to its average volume of 5,460,283. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 0.98. Microchip Technology Incorporated has a 52 week low of $68.75 and a 52 week high of $94.30. The company has a 50 day moving average price of $86.58 and a two-hundred day moving average price of $84.24. The stock has a market capitalization of $45.26 billion, a PE ratio of 19.68, a PEG ratio of 2.60 and a beta of 1.65.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data 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 the consensus estimate of $1.77 billion. During the same quarter in the previous year, the company posted $1.48 EPS. The company’s revenue was down 18.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Microchip Technology Incorporated will post 4.64 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The business 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. The ex-dividend date was Thursday, February 22nd. This represents a $1.80 annualized dividend and a dividend yield of 2.15%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.44. Microchip Technology’s payout ratio is currently 42.06%.

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.