Bryn Mawr Capital Management LLC Has $495,000 Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Bryn Mawr Capital Management LLC trimmed its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 27.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,225 shares of the semiconductor company's stock after selling 3,781 shares during the quarter. Bryn Mawr Capital Management LLC's holdings in Microchip Technology were worth $495,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MCHP. Norges Bank acquired a new position in Microchip Technology during the fourth quarter worth $452,627,000. Barrow Hanley Mewhinney & Strauss LLC increased its position in Microchip Technology by 273.2% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,345,096 shares of the semiconductor company's stock worth $306,541,000 after buying an additional 3,912,895 shares during the last quarter. Franklin Resources Inc. increased its position in Microchip Technology by 90.0% during the fourth quarter. Franklin Resources Inc. now owns 6,360,805 shares of the semiconductor company's stock worth $364,792,000 after buying an additional 3,013,162 shares during the last quarter. Meritage Group LP acquired a new position in Microchip Technology during the fourth quarter worth $145,033,000. Finally, Fiduciary Management Inc. WI acquired a new position in Microchip Technology during the fourth quarter worth $119,431,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Price Performance

MCHP traded up $0.48 during midday trading on Friday, reaching $74.78. 5,239,291 shares of the company's stock were exchanged, compared to its average volume of 8,941,777. The firm has a market capitalization of $40.36 billion, a price-to-earnings ratio of -7,478.00, a price-to-earnings-growth ratio of 2.21 and a beta of 1.52. The company has a quick ratio of 1.47, a current ratio of 2.59 and a debt-to-equity ratio of 0.80. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $93.31. The business has a 50-day simple moving average of $66.43 and a two-hundred day simple moving average of $56.78.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. The firm had revenue of $970.50 million during 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 company's revenue for the quarter was down 26.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 earnings per share. As a group, research analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend was Thursday, May 22nd. Microchip Technology's dividend payout ratio is currently -18,200.00%.

Insider Buying and Selling

In related news, Director Karlton D. Johnson sold 494 shares of the firm's 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 completion of the sale, the director 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 document filed with the SEC, which is available at the SEC website. Also, CFO James Eric Bjornholt sold 2,015 shares of the firm's 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 sale, the chief financial officer directly owned 34,313 shares of the company's stock, valued at approximately $1,913,979.14. This represents a 5.55% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.94% of the company's stock.

Analyst Upgrades and Downgrades

MCHP has been the topic of several analyst reports. Bank of America raised shares of Microchip Technology from an "underperform" rating to a "neutral" rating and set a $56.00 target price on the stock in a research report on Friday, May 9th. B. Riley upped their price target on shares of Microchip Technology from $60.00 to $75.00 and gave the company a "buy" rating in a report on Friday, May 9th. Stifel Nicolaus upped their price target on shares of Microchip Technology from $70.00 to $82.00 and gave the company a "buy" rating in a report on Friday. Needham & Company LLC restated a "buy" rating and set a $66.00 price target on shares of Microchip Technology in a report on Friday, May 9th. Finally, Evercore ISI upped their price target on shares of Microchip Technology from $69.00 to $83.00 and gave the company an "outperform" rating in a report on Thursday, June 12th. Six equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $75.70.

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.