Blueshift Asset Management LLC Acquires Shares of 3,652 Microchip Technology Incorporated (NASDAQ:MCHP)

Blueshift Asset Management LLC acquired a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,652 shares of the semiconductor company’s stock, valued at approximately $209,000.

Several other institutional investors have also modified their holdings of the stock. Coldstream Capital Management Inc. raised its holdings in shares of Microchip Technology by 2.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 11,052 shares of the semiconductor company’s stock worth $878,000 after acquiring an additional 260 shares during the period. EP Wealth Advisors LLC raised its holdings in shares of Microchip Technology by 1.8% during the 3rd quarter. EP Wealth Advisors LLC now owns 14,725 shares of the semiconductor company’s stock worth $1,182,000 after acquiring an additional 264 shares during the period. Lebenthal Global Advisors LLC raised its holdings in shares of Microchip Technology by 7.3% during the 4th quarter. Lebenthal Global Advisors LLC now owns 3,894 shares of the semiconductor company’s stock worth $223,000 after acquiring an additional 266 shares during the period. Leelyn Smith LLC raised its holdings in shares of Microchip Technology by 2.2% during the 3rd quarter. Leelyn Smith LLC now owns 12,401 shares of the semiconductor company’s stock worth $996,000 after acquiring an additional 268 shares during the period. Finally, First Commonwealth Financial Corp PA raised its holdings in shares of Microchip Technology by 2.5% during the 3rd quarter. First Commonwealth Financial Corp PA now owns 11,342 shares of the semiconductor company’s stock worth $911,000 after acquiring an additional 279 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Performance

Shares of Microchip Technology stock opened at $51.72 on Friday. Microchip Technology Incorporated has a one year low of $49.92 and a one year high of $100.57. The company has a market cap of $27.82 billion, a PE ratio of 92.36 and a beta of 1.52. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. The business has a 50-day simple moving average of $56.17 and a 200-day simple moving average of $64.74.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. On average, equities research analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date was Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is 325.00%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MCHP shares. StockNews.com lowered Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 10th. TD Cowen boosted their price objective on shares of Microchip Technology from $50.00 to $60.00 and gave the company a “hold” rating in a report on Tuesday, March 4th. Piper Sandler restated an “overweight” rating and issued a $65.00 price objective (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Mizuho boosted their price objective on shares of Microchip Technology from $58.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. Finally, The Goldman Sachs Group reduced their price objective on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.37.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the completion of the transaction, the chief financial officer now directly owns 33,272 shares of the company’s stock, valued at $2,025,599.36. This represents a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.10% of the stock is currently owned by corporate insiders.

About Microchip Technology

Microchip Technology Incorporated engages in the development, manufacture, and sale of 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 mixed-signal 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.