Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC decreased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,761 shares of the semiconductor company’s stock after selling 143 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Microchip Technology were worth $864,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Watts Gwilliam & Co. LLC purchased a new position in Microchip Technology during the third quarter worth about $592,000. Northwest Bank & Trust Co lifted its holdings in Microchip Technology by 2.9% in the third quarter. Northwest Bank & Trust Co now owns 7,175 shares of the semiconductor company’s stock valued at $576,000 after acquiring an additional 205 shares during the last quarter. Bruce G. Allen Investments LLC grew its position in Microchip Technology by 11.4% in the third quarter. Bruce G. Allen Investments LLC now owns 1,578 shares of the semiconductor company’s stock worth $127,000 after acquiring an additional 162 shares during the period. Enterprise Bank & Trust Co increased its stake in Microchip Technology by 11.4% during the third quarter. Enterprise Bank & Trust Co now owns 3,522 shares of the semiconductor company’s stock worth $283,000 after acquiring an additional 361 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Microchip Technology by 1.2% in the 3rd quarter. CWM LLC now owns 32,955 shares of the semiconductor company’s stock valued at $2,646,000 after purchasing an additional 403 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MCHP shares. Rosenblatt Securities reissued a “buy” rating and set a $100.00 price objective on shares of Microchip Technology in a research report on Wednesday, July 31st. Susquehanna decreased their price objective on shares of Microchip Technology from $115.00 to $105.00 and set a “positive” rating on the stock in a report on Friday, August 2nd. Morgan Stanley lowered Microchip Technology from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $102.00 to $100.00 in a research report on Thursday, July 11th. Needham & Company LLC lowered their price target on Microchip Technology from $100.00 to $96.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Finally, TD Cowen cut their price objective on Microchip Technology from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $99.47.

Insider Activity at Microchip Technology

In other news, CFO James Eric Bjornholt sold 2,154 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $81.50, for a total transaction of $175,551.00. Following the completion of the sale, the chief financial officer now owns 33,257 shares in the company, valued at approximately $2,710,445.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is currently owned by corporate insiders.

Microchip Technology Trading Up 0.8 %

Shares of NASDAQ:MCHP opened at $77.98 on Monday. The company has a market cap of $41.84 billion, a PE ratio of 31.19 and a beta of 1.52. The company’s 50 day moving average is $78.09 and its two-hundred day moving average is $86.57. Microchip Technology Incorporated has a 52 week low of $68.75 and a 52 week high of $100.57. The company has a current ratio of 1.94, a quick ratio of 1.08 and a debt-to-equity ratio of 0.96.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Microchip Technology had a return on equity of 28.33% and a net margin of 20.80%. Microchip Technology’s quarterly revenue was down 45.8% on a year-over-year basis. During the same period last year, the firm earned $1.56 earnings per share. Equities analysts predict that Microchip Technology Incorporated will post 1.73 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were paid a dividend of $0.454 per share. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, August 22nd. This represents a $1.82 annualized dividend and a yield of 2.33%. Microchip Technology’s payout ratio is presently 72.80%.

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.