Schechter Investment Advisors LLC Sells 347 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Schechter Investment Advisors LLC reduced its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,566 shares of the semiconductor company’s stock after selling 347 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Microchip Technology were worth $1,223,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings in shares of Microchip Technology by 1.9% during the first quarter. Geode Capital Management LLC now owns 11,714,851 shares of the semiconductor company’s stock valued at $979,918,000 after acquiring an additional 217,223 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Microchip Technology by 1.7% during the first quarter. Northern Trust Corp now owns 7,553,578 shares of the semiconductor company’s stock valued at $567,576,000 after acquiring an additional 123,806 shares in the last quarter. Norges Bank bought a new stake in shares of Microchip Technology during the fourth quarter valued at approximately $412,120,000. Van ECK Associates Corp increased its holdings in shares of Microchip Technology by 7.8% during the third quarter. Van ECK Associates Corp now owns 4,462,638 shares of the semiconductor company’s stock valued at $348,309,000 after acquiring an additional 322,540 shares in the last quarter. Finally, Mizuho Markets Americas LLC bought a new stake in shares of Microchip Technology during the third quarter valued at approximately $225,800,000. 91.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MCHP has been the subject of several recent research reports. Stifel Nicolaus restated a “buy” rating and set a $94.00 price objective on shares of Microchip Technology in a report on Thursday, March 14th. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 target price on shares of Microchip Technology in a research report on Tuesday, January 30th. Wolfe Research raised Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 target price on the stock in a research report on Thursday, January 18th. Piper Sandler cut Microchip Technology from an “overweight” rating to a “neutral” rating and set a $80.00 target price on the stock. in a research report on Thursday, January 4th. Finally, StockNews.com cut Microchip Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 29th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Microchip Technology currently has an average rating of “Moderate Buy” and an average price target of $91.33.

Microchip Technology Stock Up 3.4 %

Shares of NASDAQ MCHP opened at $89.19 on Thursday. Microchip Technology Incorporated has a one year low of $68.75 and a one year high of $94.30. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.58. The business’s fifty day moving average price is $86.19 and its 200-day moving average price is $83.13. The stock has a market capitalization of $48.20 billion, a PE ratio of 20.84, a P/E/G ratio of 1.54 and a beta of 1.65.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $1.08 EPS for the quarter, beating 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 firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the firm earned $1.48 EPS. The business’s revenue for the quarter was down 18.6% compared to the same quarter last year. On average, equities research analysts anticipate that Microchip Technology Incorporated will post 4.64 EPS for the current year.

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.02%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 22nd. Microchip Technology’s payout ratio is presently 42.06%.

Insider Activity at Microchip Technology

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

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.