Semanteon Capital Management LP Makes New Investment in Microchip Technology Incorporated (NASDAQ:MCHP)

Semanteon Capital Management LP acquired a new position in Microchip Technology Incorporated (NASDAQ:MCHP) in the 4th quarter, Holdings Channel.com reports. The firm acquired 25,022 shares of the semiconductor company’s stock, valued at approximately $1,435,000.

Other large investors have also recently bought and sold shares of the company. Mainstream Capital Management LLC purchased a new position in Microchip Technology in the fourth quarter worth $26,000. Rakuten Securities Inc. raised its stake 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 worth $27,000 after buying an additional 359 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Microchip Technology during the 3rd quarter worth $29,000. OFI Invest Asset Management acquired a new position in shares of Microchip Technology during the 4th quarter worth $29,000. Finally, Financial Life Planners acquired a new position in shares of Microchip Technology during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Trading Down 6.5 %

Shares of MCHP opened at $51.00 on Friday. Microchip Technology Incorporated has a twelve month low of $50.21 and a twelve month high of $100.57. The firm has a market capitalization of $27.43 billion, a P/E ratio of 91.07 and a beta of 1.52. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. The stock’s fifty day simple moving average is $56.24 and its 200 day simple moving average is $65.03.

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

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were paid a dividend of $0.455 per share. The ex-dividend date was Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.57%. Microchip Technology’s dividend payout ratio is currently 325.00%.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the sale, the chief financial officer now directly owns 33,272 shares in the company, valued at $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.10% of the stock is owned by insiders.

Analyst Ratings Changes

MCHP has been the subject of several research reports. Stifel Nicolaus cut their price target on Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, December 3rd. Bank of America downgraded Microchip Technology from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $80.00 to $65.00 in a research note on Monday, December 16th. KeyCorp cut their price target on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. Raymond James reaffirmed a “strong-buy” rating and set a $60.00 price target (down previously from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. Finally, Piper Sandler reissued an “overweight” rating and issued a $65.00 target price (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Microchip Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.37.

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.