Dynamic Advisor Solutions LLC Sells 8,930 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Dynamic Advisor Solutions LLC lowered its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 40.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,238 shares of the semiconductor company's stock after selling 8,930 shares during the period. Dynamic Advisor Solutions LLC's holdings in Microchip Technology were worth $641,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. one8zero8 LLC bought a new position in shares of Microchip Technology in the fourth quarter valued at approximately $384,000. Vanguard Group Inc. raised its holdings in Microchip Technology by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 68,912,345 shares of the semiconductor company's stock worth $3,952,123,000 after purchasing an additional 569,699 shares in the last quarter. Franklin Resources Inc. lifted its position in Microchip Technology by 90.0% in the fourth quarter. Franklin Resources Inc. now owns 6,360,805 shares of the semiconductor company's stock worth $364,792,000 after purchasing an additional 3,013,162 shares during the period. Jones Financial Companies Lllp boosted its stake in Microchip Technology by 15.7% during the 4th quarter. Jones Financial Companies Lllp now owns 16,418 shares of the semiconductor company's stock valued at $942,000 after purchasing an additional 2,226 shares in the last quarter. Finally, Potomac Fund Management Inc. ADV acquired a new position in shares of Microchip Technology during the 4th quarter valued at $738,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Insider Activity at Microchip Technology

In other news, CFO James Eric Bjornholt sold 2,015 shares of the business's stock in a transaction 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 transaction, the chief financial officer now directly owns 34,313 shares in the company, valued at $1,913,979.14. The trade was a 5.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Karlton D. Johnson sold 494 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $60.69, for a total value of $29,980.86. Following the sale, the director now owns 3,468 shares of the company's stock, valued at approximately $210,472.92. This represents a 12.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

Microchip Technology Stock Up 0.5%

Shares of MCHP traded up $0.33 during mid-day trading on Thursday, reaching $68.02. The company's stock had a trading volume of 5,642,459 shares, compared to its average volume of 8,819,986. The company has a market cap of $36.69 billion, a price-to-earnings ratio of -6,802.00, a price-to-earnings-growth ratio of 2.02 and a beta of 1.48. The business has a fifty day moving average of $54.35 and a 200 day moving average of $54.99. 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 1 year low of $34.13 and a 1 year high of $96.98.

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

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend was Thursday, May 22nd. Microchip Technology's payout ratio is presently -18,200.00%.

Analysts Set New Price Targets

MCHP has been the topic of a number of research reports. Bank of America raised Microchip Technology from an "underperform" rating to a "neutral" rating and set a $56.00 price objective on the stock in a research note on Friday, May 9th. Truist Financial boosted their price target on shares of Microchip Technology from $52.00 to $64.00 and gave the stock a "hold" rating in a research report on Wednesday. TD Cowen upped their price target on shares of Microchip Technology from $35.00 to $55.00 and gave the company a "hold" rating in a report on Friday, May 9th. Mizuho lifted their price objective on shares of Microchip Technology from $68.00 to $78.00 and gave the stock an "outperform" rating in a research note on Thursday, June 12th. Finally, Citigroup increased their target price on shares of Microchip Technology from $55.00 to $68.00 and gave the company a "buy" rating in a research note on Monday, June 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Microchip Technology presently has an average rating of "Moderate Buy" and a consensus price target of $70.15.

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.