Princeton Capital Management LLC Has $959,000 Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Princeton Capital Management LLC reduced its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 41.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,727 shares of the semiconductor company’s stock after selling 11,791 shares during the period. Princeton Capital Management LLC’s holdings in Microchip Technology were worth $959,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Microchip Technology by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 68,912,345 shares of the semiconductor company’s stock worth $3,952,123,000 after buying an additional 569,699 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Microchip Technology by 39.3% in the fourth quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company’s stock worth $636,184,000 after acquiring an additional 3,131,807 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Microchip Technology by 30.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company’s stock valued at $264,430,000 after purchasing an additional 776,408 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Microchip Technology by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,143,769 shares of the semiconductor company’s stock valued at $180,295,000 after purchasing an additional 116,823 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Microchip Technology by 9,901.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock worth $163,886,000 after purchasing an additional 2,829,082 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Price Performance

Shares of MCHP opened at $53.89 on Tuesday. The firm has a market cap of $28.98 billion, a PE ratio of 96.23 and a beta of 1.52. Microchip Technology Incorporated has a 52-week low of $49.92 and a 52-week high of $100.57. The business’s 50 day moving average price is $56.13 and its two-hundred day moving average price is $64.49. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) 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%. On average, equities analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology’s payout ratio is 325.00%.

Wall Street Analysts Forecast Growth

MCHP has been the topic of a number of research analyst reports. B. Riley restated a “buy” rating and issued a $75.00 target price (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. TD Cowen boosted their price objective on Microchip Technology from $50.00 to $60.00 and gave the stock a “hold” rating in a research report on Tuesday, March 4th. The Goldman Sachs Group dropped their target price on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Piper Sandler reissued an “overweight” rating and set a $65.00 price target (down from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Finally, Morgan Stanley lowered their price objective on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $74.37.

Insider Buying and Selling

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the business’s stock in a transaction 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 owns 33,272 shares in the company, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.10% of the stock is owned by company insiders.

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.