Aspire Private Capital LLC Lowers Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Aspire Private Capital LLC reduced its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 84.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,490 shares of the semiconductor company’s stock after selling 8,071 shares during the quarter. Aspire Private Capital LLC’s holdings in Microchip Technology were worth $134,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. OFI Invest Asset Management acquired a new stake in shares of Microchip Technology in the 3rd quarter valued at approximately $26,000. BKM Wealth Management LLC acquired a new position in Microchip Technology during the fourth quarter worth $27,000. Rakuten Securities Inc. acquired a new position in Microchip Technology during the fourth quarter worth $27,000. Fortitude Family Office LLC acquired a new position in Microchip Technology during the fourth quarter worth $29,000. Finally, Milestone Investment Advisors LLC acquired a new position in Microchip Technology during the third quarter worth $36,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price objective on shares of Microchip Technology in a report on Tuesday, January 30th. Susquehanna reaffirmed a “positive” rating and set a $100.00 price objective on shares of Microchip Technology in a report on Monday, April 8th. Needham & Company LLC lifted their price objective on Microchip Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. UBS Group reduced their price objective on Microchip Technology from $105.00 to $95.00 and set a “buy” rating for the company in a report on Friday, February 2nd. Finally, Truist Financial reduced their price objective on Microchip Technology from $97.00 to $93.00 and set a “buy” rating on the stock in a research report on Tuesday, January 9th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $92.50.

Insider Activity

In other news, CFO James Eric Bjornholt sold 1,970 shares of the 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 sale, the chief financial officer now owns 32,893 shares in the company, valued at $2,759,722.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Karlton D. Johnson sold 370 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James Eric Bjornholt sold 1,970 shares of the stock in a transaction dated Friday, February 23rd. The shares were 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 of the company’s stock, valued at approximately $2,759,722.70. The disclosure for this sale can be found here. Insiders own 2.07% of the company’s stock.

Microchip Technology Trading Up 3.0 %

Microchip Technology stock traded up $2.47 during trading on Tuesday, hitting $86.00. The company’s stock had a trading volume of 802,210 shares, compared to its average volume of 5,470,284. The stock has a market capitalization of $46.47 billion, a price-to-earnings ratio of 19.52, a P/E/G ratio of 2.49 and a beta of 1.65. The stock’s fifty day moving average is $86.50 and its 200 day moving average is $84.41. Microchip Technology Incorporated has a 1-year low of $68.75 and a 1-year high of $94.30. 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 (NASDAQ:MCHP) last released its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.04 by $0.04. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.77 billion. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The business’s quarterly revenue was down 18.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.48 earnings per share. As a group, equities research analysts predict that Microchip Technology Incorporated will post 4.64 EPS for the current 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 paid a $0.45 dividend. The ex-dividend date was Thursday, February 22nd. 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. Microchip Technology’s dividend payout ratio (DPR) is 42.06%.

Microchip Technology Company 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.