Cwm LLC Sells 2,022 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Cwm LLC lessened its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 9.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,690 shares of the semiconductor company’s stock after selling 2,022 shares during the quarter. Cwm LLC’s holdings in Microchip Technology were worth $1,776,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Horizon Bancorp Inc. IN bought a new position in Microchip Technology in the fourth quarter valued at $110,000. Rockline Wealth Management LLC bought a new position in shares of Microchip Technology during the fourth quarter valued at about $4,449,000. 17 Capital Partners LLC bought a new position in shares of Microchip Technology during the fourth quarter valued at about $1,827,000. AIA Group Ltd grew its stake in shares of Microchip Technology by 80.4% during the fourth quarter. AIA Group Ltd now owns 29,910 shares of the semiconductor company’s stock valued at $2,697,000 after buying an additional 13,326 shares during the last quarter. Finally, GAM Holding AG grew its stake in shares of Microchip Technology by 13.9% during the fourth quarter. GAM Holding AG now owns 145,575 shares of the semiconductor company’s stock valued at $13,128,000 after buying an additional 17,776 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Activity at Microchip Technology

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

Microchip Technology Trading Up 1.7 %

NASDAQ:MCHP opened at $92.21 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.58 and a debt-to-equity ratio of 0.57. Microchip Technology Incorporated has a 12 month low of $68.75 and a 12 month high of $94.30. The company has a market cap of $49.83 billion, a PE ratio of 21.54, a price-to-earnings-growth ratio of 2.77 and a beta of 1.65. The company has a 50 day simple moving average of $87.00 and a two-hundred day simple moving average of $84.55.

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

Microchip Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were paid a dividend of $0.45 per share. This is a boost from Microchip Technology’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 22nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.95%. Microchip Technology’s payout ratio is 42.06%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MCHP. Piper Sandler lowered shares of Microchip Technology from an “overweight” rating to a “neutral” rating and set a $80.00 target price for the company. in a report on Thursday, January 4th. Stifel Nicolaus increased their target price on shares of Microchip Technology from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Evercore ISI began coverage on shares of Microchip Technology in a report on Tuesday, April 16th. They set an “outperform” rating and a $106.00 target price for the company. Wolfe Research upgraded shares of Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 target price for the company in a report on Thursday, January 18th. Finally, StockNews.com lowered shares of Microchip Technology from a “buy” rating to a “hold” rating in a report on Friday, December 29th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.50.

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.