Vident Advisory LLC Decreases Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Vident Advisory LLC lessened its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 36.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,405 shares of the semiconductor company's stock after selling 10,918 shares during the period. Vident Advisory LLC's holdings in Microchip Technology were worth $1,113,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Mainstream Capital Management LLC acquired a new stake in Microchip Technology in the fourth quarter worth about $26,000. Rakuten Securities Inc. boosted its stake in Microchip Technology by 309.5% in the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company's stock worth $27,000 after purchasing an additional 359 shares in the last quarter. OFI Invest Asset Management purchased a new stake in Microchip Technology during the 4th quarter worth approximately $29,000. Financial Life Planners purchased a new position in shares of Microchip Technology in the fourth quarter worth $32,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Microchip Technology during the fourth quarter worth $34,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Insider Activity at Microchip Technology

In other news, Director Karlton D. Johnson sold 494 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $60.69, for a total transaction of $29,980.86. Following the completion of the transaction, the director now directly owns 3,468 shares of the company's stock, valued at approximately $210,472.92. The trade was a 12.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.10% of the company's stock.

Microchip Technology Price Performance

MCHP traded up $2.49 during midday trading on Tuesday, hitting $58.68. 11,212,708 shares of the company traded hands, compared to its average volume of 8,611,183. The business has a 50 day simple moving average of $48.10 and a two-hundred day simple moving average of $55.12. Microchip Technology Incorporated has a 52-week low of $34.13 and a 52-week high of $98.99. The company has a market capitalization of $31.61 billion, a price-to-earnings ratio of 104.79 and a beta of 1.42. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its 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 during the quarter, compared to analyst estimates of $962.86 million. Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. The company's revenue for the quarter was down 26.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 earnings per share. On average, equities 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 will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be given a $0.455 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.10%. Microchip Technology's dividend payout ratio (DPR) is presently -18,200.00%.

Analyst Upgrades and Downgrades

A number of analysts have commented on MCHP shares. B. Riley lifted their price target on Microchip Technology from $60.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. UBS Group lifted their target price on Microchip Technology from $55.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Morgan Stanley increased their price target on shares of Microchip Technology from $39.00 to $50.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Piper Sandler restated an "overweight" rating and set a $65.00 price objective (down from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Finally, TD Cowen increased their price objective on shares of Microchip Technology from $35.00 to $55.00 and gave the stock a "hold" rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $67.42.

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.