Telemus Capital LLC Lowers Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Telemus Capital LLC reduced its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,559 shares of the semiconductor company’s stock after selling 1,908 shares during the quarter. Telemus Capital LLC’s holdings in Microchip Technology were worth $5,551,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MCHP. OFI Invest Asset Management purchased a new stake in Microchip Technology in the third quarter worth about $26,000. BKM Wealth Management LLC purchased a new stake in Microchip Technology in the fourth quarter worth about $27,000. Rakuten Securities Inc. purchased a new stake in Microchip Technology in the fourth quarter worth about $27,000. Fortitude Family Office LLC purchased a new stake in shares of Microchip Technology during the fourth quarter valued at about $29,000. Finally, Milestone Investment Advisors LLC purchased a new stake in shares of Microchip Technology during the third quarter valued at about $36,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on MCHP. Stifel Nicolaus increased their price target on shares of Microchip Technology from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Truist Financial decreased their price target on shares of Microchip Technology from $97.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, January 9th. Rosenblatt Securities reissued a “buy” rating and set a $100.00 price target on shares of Microchip Technology in a research report on Tuesday, January 30th. UBS Group cut their price objective on shares of Microchip Technology from $105.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, February 2nd. Finally, TD Cowen upped their price objective on shares of Microchip Technology from $75.00 to $80.00 and gave the company a “market perform” rating in a report on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average target price of $92.50.

Microchip Technology Trading Up 2.3 %

Shares of NASDAQ:MCHP opened at $83.53 on Tuesday. Microchip Technology Incorporated has a 1 year low of $68.75 and a 1 year high of $94.30. The firm has a market capitalization of $45.14 billion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 2.49 and a beta of 1.65. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.58. The business’s 50 day moving average price is $86.50 and its 200-day moving average price is $84.41.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.77 billion. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The firm’s revenue for the quarter was down 18.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.48 EPS. On average, equities research analysts forecast that Microchip Technology Incorporated will post 4.64 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.80 dividend on an annualized basis and a yield of 2.15%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.44. Microchip Technology’s dividend payout ratio (DPR) is presently 42.06%.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 1,970 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total value of $165,283.00. Following the completion of the sale, the chief financial officer now directly owns 32,893 shares of the company’s stock, valued at approximately $2,759,722.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Karlton D. Johnson sold 370 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total transaction of $31,080.00. Following the completion of the sale, the director now directly owns 1,789 shares of the company’s stock, valued at approximately $150,276. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James Eric Bjornholt sold 1,970 shares of Microchip Technology stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $83.90, for a total value of $165,283.00. Following the completion of the transaction, the chief financial officer now directly owns 32,893 shares of the company’s stock, valued at $2,759,722.70. The disclosure for this sale can be found here. 2.07% of the stock is currently owned by insiders.

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.