Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Kintegral Advisory LLC

Kintegral Advisory LLC cut its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 32.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,052 shares of the semiconductor company's stock after selling 3,949 shares during the period. Kintegral Advisory LLC's holdings in Microchip Technology were worth $390,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Rakuten Securities Inc. lifted its stake in Microchip Technology by 309.5% in the fourth quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 359 shares during the last quarter. OFI Invest Asset Management bought a new position in Microchip Technology during the fourth quarter valued at approximately $29,000. Millstone Evans Group LLC bought a new position in Microchip Technology during the 4th quarter worth approximately $34,000. Garde Capital Inc. bought a new stake in Microchip Technology during the 1st quarter valued at $30,000. Finally, Orion Capital Management LLC purchased a new position in shares of Microchip Technology in the fourth quarter valued at about $41,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Insider Buying and Selling at Microchip Technology

In other news, CFO James Eric Bjornholt sold 2,015 shares of Microchip Technology stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $55.78, for a total value of $112,396.70. Following the sale, the chief financial officer 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Karlton D. Johnson sold 494 shares of Microchip Technology stock in a transaction that occurred 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 completion of the sale, the director directly owned 3,468 shares in the company, valued at $210,472.92. This represents a 12.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.10% of the company's stock.

Microchip Technology Trading Down 2.2%

Shares of MCHP stock traded down $1.58 during trading hours on Monday, reaching $71.48. 7,789,514 shares of the stock were exchanged, compared to its average volume of 8,906,619. The company's 50-day moving average price is $61.61 and its 200-day moving average price is $55.74. The firm has a market capitalization of $38.56 billion, a price-to-earnings ratio of -7,148.00, a price-to-earnings-growth ratio of 2.17 and a beta of 1.52. 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 Incorporated has a 12-month low of $34.13 and a 12-month 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 (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. The business had revenue of $970.50 million for the quarter, compared to the consensus estimate of $962.86 million. Microchip Technology had a positive return on equity of 8.55% and a negative net margin of 0.01%. The business's revenue was down 26.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.57 EPS. As a group, equities analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd were issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend was Thursday, May 22nd. Microchip Technology's dividend payout ratio (DPR) is presently -18,200.00%.

Wall Street Analysts Forecast Growth

Several analysts have commented on MCHP shares. Mizuho raised their price objective on shares of Microchip Technology from $68.00 to $78.00 and gave the stock an "outperform" rating in a report on Thursday, June 12th. Raymond James Financial raised their price target on shares of Microchip Technology from $60.00 to $65.00 and gave the company a "strong-buy" rating in a research report on Friday, May 9th. B. Riley lifted their price target on shares of Microchip Technology from $60.00 to $75.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Citigroup boosted their target price on shares of Microchip Technology from $68.00 to $90.00 and gave the company a "buy" rating in a research note on Monday. Finally, Morgan Stanley raised their target price on Microchip Technology from $39.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Microchip Technology presently has an average rating of "Moderate Buy" and an average price target of $72.25.

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.