Richard P Slaughter Associates Inc Has $274,000 Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Richard P Slaughter Associates Inc lowered its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 24.7% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 3,055 shares of the semiconductor company’s stock after selling 1,000 shares during the period. Richard P Slaughter Associates Inc’s holdings in Microchip Technology were worth $274,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. BKM Wealth Management LLC acquired a new stake in Microchip Technology during the fourth quarter worth $27,000. Rakuten Securities Inc. bought a new position in shares of Microchip Technology during the 4th quarter worth about $27,000. Rise Advisors LLC acquired a new stake in shares of Microchip Technology during the 1st quarter valued at about $28,000. Fortitude Family Office LLC bought a new stake in Microchip Technology in the fourth quarter valued at about $29,000. Finally, Pineridge Advisors LLC bought a new position in Microchip Technology during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group increased their target price on Microchip Technology from $77.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Mizuho upgraded Microchip Technology from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $115.00 in a research note on Friday, May 24th. KeyCorp lifted their price objective on Microchip Technology from $90.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. Piper Sandler reaffirmed a “neutral” rating and issued a $90.00 target price (up previously from $80.00) on shares of Microchip Technology in a report on Tuesday, May 7th. Finally, Evercore ISI initiated coverage on shares of Microchip Technology in a research report on Tuesday, April 16th. They set an “outperform” rating and a $106.00 target price for the company. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $101.06.

Insider Buying and Selling at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,188 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $99.98, for a total value of $318,736.24. Following the transaction, the chief financial officer now owns 33,257 shares of the company’s stock, valued at approximately $3,325,034.86. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO James Eric Bjornholt sold 3,188 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $99.98, for a total value of $318,736.24. Following the completion of the sale, the chief financial officer now directly owns 33,257 shares of the company’s stock, valued at approximately $3,325,034.86. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Matthew W. Chapman sold 2,748 shares of Microchip Technology stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $93.88, for a total transaction of $257,982.24. Following the transaction, the director now directly owns 35,682 shares in the company, valued at approximately $3,349,826.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,993 shares of company stock valued at $2,251,857. 2.07% of the stock is currently owned by insiders.

Microchip Technology Stock Down 4.7 %

Shares of MCHP opened at $89.02 on Friday. The firm has a market capitalization of $47.79 billion, a price-to-earnings ratio of 25.65 and a beta of 1.55. Microchip Technology Incorporated has a 52 week low of $68.75 and a 52 week high of $100.57. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.67 and a current ratio of 1.20. The business’s fifty day moving average price is $92.36 and its two-hundred day moving average price is $88.91.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Monday, May 6th. The semiconductor company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. Microchip Technology had a return on equity of 36.78% and a net margin of 24.98%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the company earned $1.56 earnings per share. The company’s revenue was down 40.6% on a year-over-year basis. On average, analysts predict that Microchip Technology Incorporated will post 2.35 earnings per share for the current year.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were issued a $0.452 dividend. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.81 annualized dividend and a yield of 2.03%. The ex-dividend date was Tuesday, May 21st. Microchip Technology’s dividend payout ratio is currently 52.16%.

Microchip Technology Company 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.