EntryPoint Capital LLC reduced its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP – Free Report) by 56.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 600 shares of the semiconductor company’s stock after selling 790 shares during the period. EntryPoint Capital LLC’s holdings in Microchip Technology were worth $54,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Rakuten Securities Inc. acquired a new stake in shares of Microchip Technology during the fourth quarter worth $27,000. Rise Advisors LLC bought a new position in Microchip Technology during the first quarter worth about $28,000. Pineridge Advisors LLC acquired a new stake in Microchip Technology in the 4th quarter worth about $33,000. Steph & Co. boosted its holdings in Microchip Technology by 57.4% in the 1st quarter. Steph & Co. now owns 414 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 151 shares during the period. Finally, Bfsg LLC acquired a new position in shares of Microchip Technology during the 4th quarter worth approximately $45,000. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Price Performance

Shares of NASDAQ:MCHP opened at $86.83 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.67 and a current ratio of 1.20. Microchip Technology Incorporated has a 52 week low of $68.75 and a 52 week high of $100.57. The firm has a market cap of $46.59 billion, a PE ratio of 25.02 and a beta of 1.54. The firm’s fifty day moving average is $92.96 and its 200-day moving average is $89.45.

Microchip Technology (NASDAQ:MCHP – Get Free Report) last released its quarterly earnings results on Monday, May 6th. The semiconductor company reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. Microchip Technology had a return on equity of 36.78% and a net margin of 24.98%. The business’s revenue was down 40.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.56 EPS. Sell-side analysts predict that Microchip Technology Incorporated will post 2.35 earnings per share for the current year.

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd were paid a $0.452 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.81 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Tuesday, May 21st. Microchip Technology’s payout ratio is 52.16%.

Analyst Ratings Changes

MCHP has been the subject of several recent research reports. The Goldman Sachs Group boosted their price target on Microchip Technology from $77.00 to $88.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. UBS Group raised their target price on shares of Microchip Technology from $95.00 to $103.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Jefferies Financial Group initiated coverage on shares of Microchip Technology in a research report on Monday, May 13th. They issued a “buy” rating and a $115.00 target price for the company. Truist Financial lifted their price objective on shares of Microchip Technology from $93.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Finally, Mizuho upgraded Microchip Technology from a “neutral” rating to a “buy” rating and upped their target price for the stock from $85.00 to $115.00 in a research note on Friday, May 24th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Microchip Technology currently has an average rating of “Moderate Buy” and a consensus target price of $102.17.

Check Out Our Latest Analysis on MCHP

Insider Activity

In related news, CFO James Eric Bjornholt sold 3,188 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $99.98, for a total value of $318,736.24. Following the completion of the sale, the chief financial officer now directly owns 33,257 shares of the company’s stock, valued at approximately $3,325,034.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Matthew W. Chapman sold 2,748 shares of Microchip Technology stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $93.88, for a total transaction of $257,982.24. Following the completion of the transaction, the director now directly owns 35,682 shares in the company, valued at $3,349,826.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James Eric Bjornholt sold 3,188 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $99.98, for a total transaction of $318,736.24. Following the sale, the chief financial officer now directly owns 33,257 shares of the company’s stock, valued at $3,325,034.86. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,993 shares of company stock worth $2,251,857. Company insiders own 2.07% of the company’s stock.

Microchip Technology Profile

(Free Report)

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.

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