Compass Wealth Management LLC Sells 7,358 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Compass Wealth Management LLC decreased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 70.9% in the 1st quarter, HoldingsChannel reports. The firm owned 3,026 shares of the semiconductor company’s stock after selling 7,358 shares during the quarter. Compass Wealth Management LLC’s holdings in Microchip Technology were worth $271,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Envestnet Portfolio Solutions Inc. acquired a new position in Microchip Technology during the third quarter worth about $3,469,000. Robertson Stephens Wealth Management LLC increased its stake in shares of Microchip Technology by 9.4% in the third quarter. Robertson Stephens Wealth Management LLC now owns 5,414 shares of the semiconductor company’s stock valued at $423,000 after buying an additional 466 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Microchip Technology in the third quarter valued at approximately $185,000. Brandywine Global Investment Management LLC acquired a new position in shares of Microchip Technology in the third quarter valued at approximately $5,764,000. Finally, LPL Financial LLC increased its position in Microchip Technology by 23.9% during the 3rd quarter. LPL Financial LLC now owns 238,990 shares of the semiconductor company’s stock valued at $18,653,000 after purchasing an additional 46,150 shares during the period. Institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on MCHP. Stifel Nicolaus increased their target price on shares of Microchip Technology from $98.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. B. Riley increased their target price on shares of Microchip Technology from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Truist Financial increased their price target on Microchip Technology from $93.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. UBS Group increased their price target on Microchip Technology from $95.00 to $103.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Finally, Evercore ISI started coverage on Microchip Technology in a report on Tuesday, April 16th. They set an “outperform” rating and a $106.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.06.

Insiders Place Their Bets

In other Microchip Technology news, VP Stephen V. Drehobl sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $90.88, for a total value of $908,800.00. Following the completion of the transaction, the vice president now owns 82,203 shares in the company, valued at approximately $7,470,608.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Matthew W. Chapman sold 2,748 shares of Microchip Technology stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $93.88, for a total transaction of $257,982.24. Following the completion of the sale, the director now owns 35,682 shares in the company, valued at approximately $3,349,826.16. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Stephen V. Drehobl sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $90.88, for a total value of $908,800.00. Following the completion of the sale, the vice president now owns 82,203 shares of the company’s stock, valued at approximately $7,470,608.64. The disclosure for this sale can be found here. Insiders sold a total of 23,993 shares of company stock worth $2,251,857 in the last quarter. 2.07% of the stock is owned by company insiders.

Microchip Technology Trading Up 2.7 %

Shares of MCHP opened at $93.45 on Thursday. The business has a 50-day moving average of $92.37 and a 200 day moving average of $88.91. Microchip Technology Incorporated has a fifty-two week low of $68.75 and a fifty-two week high of $100.57. The firm has a market cap of $50.17 billion, a P/E ratio of 26.93 and a beta of 1.55. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.67 and a current ratio of 1.20.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Monday, May 6th. The semiconductor company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. Microchip Technology had a return on equity of 36.78% and a net margin of 24.98%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the company earned $1.56 EPS. The firm’s revenue was down 40.6% compared to the same quarter last year. As a group, research analysts forecast that Microchip Technology Incorporated will post 2.35 EPS for the current year.

Microchip Technology Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd were paid a $0.452 dividend. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $1.81 annualized dividend and a yield of 1.93%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio (DPR) is currently 52.16%.

Microchip Technology Profile

Microchip Technology Incorporated develops, manufactures, and sells 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 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.