Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Wisconsin Capital Management LLC

Wisconsin Capital Management LLC lowered its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 19.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,301 shares of the semiconductor company’s stock after selling 11,667 shares during the quarter. Microchip Technology makes up approximately 2.5% of Wisconsin Capital Management LLC’s holdings, making the stock its 19th largest position. Wisconsin Capital Management LLC’s holdings in Microchip Technology were worth $4,266,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. BKM Wealth Management LLC bought a new stake in Microchip Technology in the 4th quarter valued at about $27,000. Rakuten Securities Inc. acquired a new position in shares of Microchip Technology during the fourth quarter worth approximately $27,000. Fortitude Family Office LLC bought a new position in Microchip Technology in the 4th quarter worth approximately $29,000. OFI Invest Asset Management acquired a new stake in Microchip Technology in the 3rd quarter valued at approximately $26,000. Finally, Milestone Investment Advisors LLC bought a new stake in Microchip Technology during the 3rd quarter valued at $36,000. 91.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MCHP has been the topic of a number of research analyst reports. Truist Financial lowered their price target on Microchip Technology from $97.00 to $93.00 and set a “buy” rating on the stock in a report on Tuesday, January 9th. Stifel Nicolaus boosted their price target on shares of Microchip Technology from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Evercore ISI assumed coverage on shares of Microchip Technology in a report on Tuesday, April 16th. They issued an “outperform” rating and a $106.00 price objective for the company. Wolfe Research raised Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 target price on the stock in a report on Thursday, January 18th. Finally, Susquehanna reaffirmed a “positive” rating and set a $100.00 price target on shares of Microchip Technology in a research note on Monday, April 8th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Microchip Technology has a consensus rating of “Moderate Buy” and a consensus price target of $92.50.

Microchip Technology Trading Up 1.7 %

Shares of MCHP stock traded up $1.53 during trading hours on Thursday, reaching $92.21. 6,236,298 shares of the stock traded hands, compared to its average volume of 5,558,727. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $49.83 billion, a PE ratio of 21.54, a PEG ratio of 2.63 and a beta of 1.65. Microchip Technology Incorporated has a 1-year low of $68.75 and a 1-year high of $94.30. The business has a fifty day moving average price of $87.00 and a 200 day moving average price of $84.55.

Microchip Technology (NASDAQ:MCHP) last released its earnings results 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 return on equity of 45.59% and a net margin of 27.59%. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the company earned $1.48 earnings per share. The company’s revenue for the quarter was down 18.6% on a year-over-year basis. On average, equities research analysts forecast that Microchip Technology Incorporated will post 4.64 EPS for the current year.

Microchip Technology Increases Dividend

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

Insider Transactions at Microchip Technology

In other Microchip Technology news, Director Karlton D. Johnson sold 370 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 1,789 shares in the company, valued at approximately $150,276. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Microchip Technology news, CFO James Eric Bjornholt sold 1,970 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $83.90, for a total value of $165,283.00. Following the transaction, 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 legal filing with the SEC, which is accessible through the SEC website. Also, 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 value 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 disclosure for this sale can be found here. 2.07% of the stock is 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.