Blair William & Co. IL Sells 389,821 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Blair William & Co. IL lowered its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 58.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 281,466 shares of the semiconductor company's stock after selling 389,821 shares during the period. Blair William & Co. IL owned about 0.05% of Microchip Technology worth $13,626,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Federated Hermes Inc. increased its position in shares of Microchip Technology by 0.5% in the 4th 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 in the last quarter. Northwest Bank & Trust Co increased its position in shares of Microchip Technology by 3.0% in the 4th quarter. Northwest Bank & Trust Co now owns 7,392 shares of the semiconductor company's stock valued at $424,000 after buying an additional 217 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Microchip Technology by 0.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 46,235 shares of the semiconductor company's stock valued at $2,238,000 after buying an additional 230 shares in the last quarter. Greenleaf Trust increased its position in shares of Microchip Technology by 1.0% in the 1st quarter. Greenleaf Trust now owns 24,933 shares of the semiconductor company's stock valued at $1,207,000 after buying an additional 242 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC increased its holdings in Microchip Technology by 3.4% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 8,360 shares of the semiconductor company's stock worth $405,000 after purchasing an additional 276 shares in the last quarter. Institutional investors own 91.51% of the company's stock.

Insider Buying and Selling

In related news, Director Karlton D. Johnson sold 494 shares of Microchip Technology stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $60.69, for a total value of $29,980.86. Following the transaction, the director directly owned 3,468 shares of the company's stock, valued at $210,472.92. This trade represents a 12.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO James Eric Bjornholt sold 2,015 shares of Microchip Technology stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $55.78, for a total transaction of $112,396.70. Following the completion of the transaction, the chief financial officer directly owned 34,313 shares in the company, valued at $1,913,979.14. This trade represents a 5.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.94% of the company's stock.

Microchip Technology Stock Up 0.3%

Shares of MCHP opened at $66.59 on Tuesday. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $82.87. The firm's 50 day moving average is $69.05 and its 200-day moving average is $57.90. The stock has a market capitalization of $35.94 billion, a PE ratio of -6,659.00, a P/E/G ratio of 1.92 and a beta of 1.55. The company has a current ratio of 2.59, a quick ratio of 1.47 and a debt-to-equity ratio of 0.80.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. The business had revenue of $970.50 million for the quarter, compared to analysts' expectations of $962.86 million. Microchip Technology had a negative net margin of 0.01% and a positive return on equity of 8.55%. The firm's quarterly revenue was down 26.8% compared to the same quarter last year. During the same period last year, the firm posted $0.57 earnings per share. Equities research analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, May 22nd. Microchip Technology's dividend payout ratio (DPR) is -18,200.00%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MCHP. Raymond James Financial increased their target price on Microchip Technology from $60.00 to $65.00 and gave the stock a "strong-buy" rating in a report on Friday, May 9th. Stifel Nicolaus increased their target price on Microchip Technology from $70.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Rosenblatt Securities increased their target price on Microchip Technology from $63.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Needham & Company LLC reiterated a "buy" rating and set a $66.00 target price on shares of Microchip Technology in a report on Friday, May 9th. Finally, Susquehanna increased their price objective on shares of Microchip Technology from $60.00 to $90.00 and gave the stock a "positive" rating in a research note on Tuesday, July 22nd. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $74.42.

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.

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