Mutual of America Capital Management LLC Sells 4,548 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Mutual of America Capital Management LLC decreased its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 5.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,479 shares of the semiconductor company’s stock after selling 4,548 shares during the period. Mutual of America Capital Management LLC’s holdings in Microchip Technology were worth $7,167,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BKM Wealth Management LLC bought a new position in shares of Microchip Technology in the 4th quarter worth approximately $27,000. Fortitude Family Office LLC bought a new position in shares of Microchip Technology in the 4th quarter worth approximately $29,000. OFI Invest Asset Management bought a new position in shares of Microchip Technology in the 3rd quarter worth approximately $26,000. VitalStone Financial LLC bought a new position in shares of Microchip Technology in the 1st quarter worth approximately $38,000. Finally, Live Oak Investment Partners bought a new position in shares of Microchip Technology in the 4th quarter worth approximately $30,000. Institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

MCHP has been the topic of several recent research reports. StockNews.com downgraded Microchip Technology from a “buy” rating to a “hold” rating in a research note on Friday, December 29th. TD Cowen upped their price target on Microchip Technology from $75.00 to $80.00 and gave the stock a “market perform” rating in a research note on Friday, February 2nd. Truist Financial cut their price target on Microchip Technology from $97.00 to $93.00 and set a “buy” rating on the stock in a research note on Tuesday, January 9th. Susquehanna restated a “positive” rating and issued a $100.00 price target on shares of Microchip Technology in a research note on Monday, April 8th. Finally, Wolfe Research upgraded Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 price target on the stock in a research note on Thursday, January 18th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.33.

Microchip Technology Price Performance

Shares of Microchip Technology stock opened at $85.64 on Friday. Microchip Technology Incorporated has a one year low of $68.75 and a one year high of $94.30. The stock’s fifty day moving average is $86.49 and its 200 day moving average is $84.02. The stock has a market cap of $46.28 billion, a P/E ratio of 20.01, a P/E/G ratio of 2.72 and a beta of 1.65. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 0.98.

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

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were issued a dividend of $0.45 per share. The ex-dividend date was Thursday, February 22nd. This is a boost from Microchip Technology’s previous quarterly dividend of $0.44. This represents a $1.80 dividend on an annualized basis and a yield of 2.10%. Microchip Technology’s dividend payout ratio (DPR) is currently 42.06%.

Insider Buying and Selling at Microchip Technology

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

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.