Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB lowered its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 9.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 101,172 shares of the semiconductor company's stock after selling 10,844 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in Microchip Technology were worth $4,898,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its stake in shares of Microchip Technology by 1.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 95,634 shares of the semiconductor company's stock valued at $5,485,000 after purchasing an additional 987 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Microchip Technology by 17.6% during the fourth quarter. Blue Trust Inc. now owns 12,383 shares of the semiconductor company's stock valued at $710,000 after purchasing an additional 1,850 shares during the last quarter. KBC Group NV raised its stake in Microchip Technology by 5.7% during the fourth quarter. KBC Group NV now owns 96,413 shares of the semiconductor company's stock valued at $5,529,000 after buying an additional 5,178 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Microchip Technology by 10.0% in the 4th quarter. Pacer Advisors Inc. now owns 100,434 shares of the semiconductor company's stock worth $5,760,000 after acquiring an additional 9,152 shares during the last quarter. Finally, Forsta AP Fonden raised its holdings in shares of Microchip Technology by 3.9% during the fourth quarter. Forsta AP Fonden now owns 116,200 shares of the semiconductor company's stock valued at $6,664,000 after purchasing an additional 4,400 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. B. Riley raised their price objective on Microchip Technology from $60.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Wall Street Zen lowered shares of Microchip Technology from a "hold" rating to a "sell" rating in a research report on Monday, February 10th. Truist Financial lifted their price target on Microchip Technology from $43.00 to $52.00 and gave the company a "hold" rating in a research report on Friday, May 9th. Raymond James boosted their target price on shares of Microchip Technology from $60.00 to $65.00 and gave the stock a "strong-buy" rating in a research note on Friday, May 9th. Finally, KeyCorp dropped their price objective on shares of Microchip Technology from $70.00 to $60.00 and set an "overweight" rating for the company in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $67.68.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, Director Karlton D. Johnson sold 494 shares of Microchip Technology stock in a transaction 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 sale, the director now directly owns 3,468 shares in the company, valued at approximately $210,472.92. The trade was a 12.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO James Eric Bjornholt sold 2,015 shares of the company's stock in a transaction dated 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 owns 34,313 shares in the company, valued at $1,913,979.14. The trade was a 5.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by corporate insiders.

Microchip Technology Price Performance

MCHP traded down $0.89 during trading on Friday, reaching $57.22. The stock had a trading volume of 10,845,600 shares, compared to its average volume of 8,641,981. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. The stock has a market cap of $30.86 billion, a PE ratio of 102.18 and a beta of 1.42. The business has a 50-day moving average of $48.55 and a 200-day moving average of $55.01. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $98.10.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its earnings results on Thursday, May 8th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. The company had revenue of $970.50 million for the quarter, compared to analysts' expectations of $962.86 million. During the same period last 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, equities research analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be issued a dividend of $0.455 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.82 annualized dividend and a dividend yield of 3.18%. Microchip Technology's payout ratio is -18,200.00%.

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.