Ensign Peak Advisors Inc Sells 376,501 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Ensign Peak Advisors Inc reduced its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 94.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,832 shares of the semiconductor company’s stock after selling 376,501 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Microchip Technology were worth $1,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. First Manhattan CO. LLC. boosted its stake in shares of Microchip Technology by 23.6% during the 4th quarter. First Manhattan CO. LLC. now owns 5,549 shares of the semiconductor company’s stock worth $318,000 after acquiring an additional 1,059 shares during the last quarter. Fiduciary Trust Co boosted its position in shares of Microchip Technology by 3.0% during the fourth quarter. Fiduciary Trust Co now owns 56,548 shares of the semiconductor company’s stock worth $3,243,000 after acquiring an additional 1,621 shares during the last quarter. FORA Capital LLC grew its position in shares of Microchip Technology by 362.2% during the fourth quarter. FORA Capital LLC now owns 243,725 shares of the semiconductor company’s stock valued at $13,978,000 after purchasing an additional 190,990 shares in the last quarter. Dean Capital Management purchased a new position in Microchip Technology during the 4th quarter valued at approximately $1,340,000. Finally, Crestline Management LP increased its position in Microchip Technology by 227.7% in the fourth quarter. Crestline Management LP now owns 65,547 shares of the semiconductor company’s stock worth $3,759,000 after purchasing an additional 45,547 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Price Performance

NASDAQ:MCHP opened at $61.21 on Friday. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $100.57. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. The firm has a market cap of $32.97 billion, a price-to-earnings ratio of 109.30 and a beta of 1.42. The firm’s fifty day moving average is $47.51 and its two-hundred day moving average is $56.04.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. The company had revenue of $970.50 million for the quarter, compared to analyst estimates of $962.86 million. Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. The firm’s revenue was down 26.8% on a year-over-year basis. During the same quarter last year, the business earned $0.57 earnings per share. Research analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 22nd will be given a dividend of $0.455 per share. The ex-dividend date is Thursday, May 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.97%. Microchip Technology’s dividend payout ratio (DPR) is presently -18,200.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $66.00 price objective on shares of Microchip Technology in a research report on Friday, May 9th. Morgan Stanley upped their target price on shares of Microchip Technology from $39.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, May 9th. StockNews.com lowered Microchip Technology from a “hold” rating to a “sell” rating in a research note on Monday, February 10th. Bank of America upgraded Microchip Technology from an “underperform” rating to a “neutral” rating and set a $56.00 target price for the company in a report on Friday, May 9th. Finally, UBS Group raised their price target on shares of Microchip Technology from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and an average price target of $67.42.

Insider Activity

In related news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the completion of the sale, the chief financial officer now owns 33,272 shares of the company’s stock, valued at approximately $2,025,599.36. This trade represents a 10.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.10% of the company’s stock.

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.