Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by RW Investment Management LLC

RW Investment Management LLC lessened its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 3.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,771 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 $388,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in MCHP. Prospera Private Wealth LLC acquired a new stake in shares of Microchip Technology in the 3rd quarter worth $29,000. Financial Life Planners acquired a new stake in shares of Microchip Technology in the 4th quarter worth $32,000. Peterson Financial Group Inc. acquired a new stake in shares of Microchip Technology in the 3rd quarter worth $34,000. Truvestments Capital LLC acquired a new stake in shares of Microchip Technology in the 3rd quarter worth $34,000. Finally, Hobbs Group Advisors LLC lifted its stake in shares of Microchip Technology by 390.6% in the 3rd quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 500 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on MCHP. Piper Sandler reiterated an “overweight” rating and issued a $65.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Evercore ISI reiterated an “outperform” rating and issued a $95.00 price objective (down previously from $101.00) on shares of Microchip Technology in a research note on Wednesday, November 6th. Jefferies Financial Group reduced their price objective on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Bank of America cut shares of Microchip Technology from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $80.00 to $65.00 in a research note on Monday, December 16th. Finally, B. Riley reiterated a “buy” rating and issued a $75.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $77.11.

Microchip Technology Stock Performance

Shares of NASDAQ MCHP opened at $63.59 on Thursday. The company has a market cap of $34.20 billion, a PE ratio of 113.55 and a beta of 1.50. Microchip Technology Incorporated has a 12 month low of $50.21 and a 12 month high of $100.57. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The company has a 50-day simple moving average of $56.58 and a 200-day simple moving average of $68.22.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results 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 analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be issued a $0.455 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a yield of 2.86%. Microchip Technology’s payout ratio is 325.00%.

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.