RW Investment Management LLC Sells 221 Shares of Microchip Technology Incorporated $MCHP

RW Investment Management LLC lessened its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 3.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,550 shares of the semiconductor company’s stock after selling 221 shares during the period. RW Investment Management LLC’s holdings in Microchip Technology were worth $317,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Commerce Bank boosted its stake in shares of Microchip Technology by 4.2% in the fourth quarter. Commerce Bank now owns 162,817 shares of the semiconductor company’s stock valued at $9,338,000 after buying an additional 6,490 shares during the period. Forum Financial Management LP boosted its stake in shares of Microchip Technology by 56.6% in the fourth quarter. Forum Financial Management LP now owns 5,384 shares of the semiconductor company’s stock valued at $309,000 after buying an additional 1,945 shares during the period. First Trust Advisors LP boosted its stake in shares of Microchip Technology by 7.2% in the fourth quarter. First Trust Advisors LP now owns 3,068,828 shares of the semiconductor company’s stock valued at $175,997,000 after buying an additional 206,672 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Microchip Technology by 19.1% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 29,509 shares of the semiconductor company’s stock valued at $1,692,000 after buying an additional 4,740 shares during the period. Finally, Ossiam boosted its stake in shares of Microchip Technology by 138.9% in the fourth quarter. Ossiam now owns 41,233 shares of the semiconductor company’s stock valued at $2,365,000 after buying an additional 23,971 shares during the period. Institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MCHP. B. Riley boosted their price target on Microchip Technology from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Wall Street Zen upgraded Microchip Technology from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. KeyCorp boosted their price target on Microchip Technology from $70.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. The Goldman Sachs Group began coverage on Microchip Technology in a research note on Thursday, July 10th. They set a “buy” rating and a $88.00 target price for the company. Finally, Rosenblatt Securities upped their target price on Microchip Technology from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, May 30th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $76.58.

Insiders Place Their Bets

In related news, CFO James Eric Bjornholt sold 2,015 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $55.78, for a total value of $112,396.70. Following the completion of the sale, the chief financial officer directly owned 34,313 shares in the company, valued at $1,913,979.14. This represents a 5.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Karlton D. Johnson sold 494 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $60.69, for a total value of $29,980.86. Following the completion of the sale, the director owned 3,468 shares of the company’s stock, valued at $210,472.92. The trade was a 12.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.94% of the company’s stock.

Microchip Technology Stock Down 0.4%

Shares of NASDAQ:MCHP opened at $65.71 on Monday. The company has a fifty day moving average of $69.75 and a 200-day moving average of $58.38. The company has a market capitalization of $35.46 billion, a PE ratio of -193.26, a price-to-earnings-growth ratio of 1.94 and a beta of 1.55. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.33 and a current ratio of 2.31. Microchip Technology Incorporated has a 52-week low of $34.13 and a 52-week high of $82.87.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.03. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.05 billion. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The company’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 earnings per share. On average, equities analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, August 22nd. Microchip Technology’s dividend payout ratio is presently -535.29%.

Microchip Technology 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.