Aquatic Capital Management LLC Decreases Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Aquatic Capital Management LLC lowered its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 97.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,105 shares of the semiconductor company's stock after selling 236,395 shares during the period. Aquatic Capital Management LLC's holdings in Microchip Technology were worth $407,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Federated Hermes Inc. grew its position in Microchip Technology by 0.5% during the fourth quarter. Federated Hermes Inc. now owns 39,298 shares of the semiconductor company's stock valued at $2,254,000 after buying an additional 209 shares during the period. Lebenthal Global Advisors LLC grew its position in shares of Microchip Technology by 7.3% during the 4th quarter. Lebenthal Global Advisors LLC now owns 3,894 shares of the semiconductor company's stock valued at $223,000 after acquiring an additional 266 shares during the period. CreativeOne Wealth LLC raised its holdings in shares of Microchip Technology by 1.0% in the 4th quarter. CreativeOne Wealth LLC now owns 28,842 shares of the semiconductor company's stock worth $1,654,000 after purchasing an additional 283 shares during the period. Elmwood Wealth Management Inc. lifted its stake in Microchip Technology by 1.5% in the fourth quarter. Elmwood Wealth Management Inc. now owns 20,558 shares of the semiconductor company's stock valued at $1,179,000 after purchasing an additional 300 shares during the last quarter. Finally, Legacy Financial Advisors Inc. grew its holdings in Microchip Technology by 8.1% during the fourth quarter. Legacy Financial Advisors Inc. now owns 4,176 shares of the semiconductor company's stock valued at $239,000 after purchasing an additional 312 shares during the period. Institutional investors own 91.51% of the company's stock.

Analyst Ratings Changes

MCHP has been the topic of a number of recent research reports. StockNews.com cut Microchip Technology from a "hold" rating to a "sell" rating in a research report on Monday, February 10th. Needham & Company LLC lifted their target price on shares of Microchip Technology from $60.00 to $66.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. The Goldman Sachs Group dropped their price target on shares of Microchip Technology from $72.00 to $63.00 and set a "neutral" rating on the stock in a research note on Friday, January 10th. Rosenblatt Securities reiterated a "buy" rating and issued a $70.00 price objective on shares of Microchip Technology in a research note on Tuesday, March 4th. Finally, B. Riley reissued a "buy" rating and set a $75.00 target price (down previously from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $66.79.

Insider Activity

In related news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the sale, the chief financial officer now directly owns 33,272 shares in the company, valued at $2,025,599.36. This represents a 10.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.10% of the stock is owned by corporate insiders.

Microchip Technology Stock Performance

NASDAQ MCHP opened at $47.91 on Friday. The company has a market capitalization of $25.77 billion, a P/E ratio of 85.55 and a beta of 1.51. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. Microchip Technology Incorporated has a 52-week low of $34.13 and a 52-week high of $100.57. The company has a fifty day moving average of $47.94 and a 200-day moving average of $57.49.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. As a group, equities research analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were issued a $0.455 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.80%. Microchip Technology's payout ratio is 325.00%.

Microchip Technology 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.

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