Quadrant Capital Group LLC Sells 1,717 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Quadrant Capital Group LLC cut its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 37.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,871 shares of the semiconductor company’s stock after selling 1,717 shares during the quarter. Quadrant Capital Group LLC’s holdings in Microchip Technology were worth $165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Mainstream Capital Management LLC purchased a new stake in Microchip Technology in the 4th quarter worth approximately $26,000. Rakuten Securities Inc. raised its position in shares of Microchip Technology by 309.5% during the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 359 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of Microchip Technology during the 4th quarter valued at $29,000. Financial Life Planners purchased a new stake in shares of Microchip Technology during the 4th quarter valued at $32,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Microchip Technology during the 4th quarter valued at $34,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Microchip Technology Price Performance

Shares of Microchip Technology stock opened at $44.90 on Thursday. The company’s fifty day simple moving average is $52.68 and its two-hundred day simple moving average is $61.56. The firm has a market cap of $24.15 billion, a PE ratio of 80.18 and a beta of 1.51. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. Microchip Technology Incorporated has a 12-month low of $34.13 and a 12-month high of $100.57.

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

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology’s payout ratio is currently 325.00%.

Insider Buying and Selling

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction dated Tuesday, February 25th. The shares were 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 approximately $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MCHP has been the topic of several research reports. Rosenblatt Securities restated a “buy” rating and set a $70.00 price objective on shares of Microchip Technology in a research report on Tuesday, March 4th. Morgan Stanley lowered their price objective on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Piper Sandler restated an “overweight” rating and set a $65.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. The Goldman Sachs Group decreased their target price on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Finally, Evercore ISI lifted their target price on shares of Microchip Technology from $65.00 to $71.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.37.

Microchip Technology Company Profile

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.