Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC decreased its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 82.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,281 shares of the semiconductor company's stock after selling 88,504 shares during the quarter. SG Americas Securities LLC's holdings in Microchip Technology were worth $885,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP raised its holdings in shares of Microchip Technology by 24.5% in the 4th quarter. Allworth Financial LP now owns 6,477 shares of the semiconductor company's stock valued at $379,000 after buying an additional 1,275 shares during the period. Sanctuary Advisors LLC grew its position in Microchip Technology by 1.5% in the 4th quarter. Sanctuary Advisors LLC now owns 62,557 shares of the semiconductor company's stock valued at $3,451,000 after acquiring an additional 937 shares in the last quarter. Empower Advisory Group LLC increased its stake in Microchip Technology by 10.5% during the fourth quarter. Empower Advisory Group LLC now owns 3,836 shares of the semiconductor company's stock worth $220,000 after purchasing an additional 366 shares during the period. Venturi Wealth Management LLC lifted its position in shares of Microchip Technology by 54.7% during the fourth quarter. Venturi Wealth Management LLC now owns 12,668 shares of the semiconductor company's stock worth $727,000 after purchasing an additional 4,478 shares in the last quarter. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of Microchip Technology during the fourth quarter worth about $461,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Insider Activity at Microchip Technology

In related 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 transaction, the director now directly owns 3,468 shares in the company, valued at $210,472.92. This trade represents a 12.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO James Eric Bjornholt sold 2,015 shares of the company's stock in a transaction on Friday, May 23rd. The stock was 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 of the company's stock, valued at approximately $1,913,979.14. The trade was a 5.55% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of Microchip Technology from $39.00 to $50.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. UBS Group boosted their price target on shares of Microchip Technology from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Wall Street Zen lowered Microchip Technology from a "hold" rating to a "sell" rating in a research report on Saturday, June 7th. Mizuho lifted their target price on Microchip Technology from $68.00 to $78.00 and gave the company an "outperform" rating in a report on Thursday, June 12th. Finally, Citigroup boosted their target price on Microchip Technology from $55.00 to $68.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Microchip Technology has an average rating of "Moderate Buy" and a consensus target price of $70.15.

Microchip Technology Stock Performance

Shares of MCHP stock traded up $0.95 during trading hours on Friday, hitting $68.97. The stock had a trading volume of 19,067,211 shares, compared to its average volume of 8,857,721. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.59 and a quick ratio of 1.47. The firm has a market capitalization of $37.20 billion, a PE ratio of -6,897.00, a PEG ratio of 2.05 and a beta of 1.48. The stock's 50 day moving average is $55.54 and its 200 day moving average is $54.96. Microchip Technology Incorporated has a twelve month low of $34.13 and a twelve month high of $96.98.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. Microchip Technology had a negative net margin of 0.01% and a positive return on equity of 8.55%. The firm had revenue of $970.50 million during the quarter, compared to the consensus estimate of $962.86 million. During the same quarter in the prior year, the firm earned $0.57 EPS. Microchip Technology's revenue for the quarter was down 26.8% on a year-over-year basis. As a group, research 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 declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were given a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend was Thursday, May 22nd. Microchip Technology's dividend payout ratio (DPR) is presently -18,200.00%.

About Microchip Technology

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.