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

Vident Advisory LLC reduced its position 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 Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 reporting period.

Several other institutional investors have also added to or reduced their stakes in MCHP. Consolidated Planning Corp bought a new stake in shares of Microchip Technology in the fourth quarter worth $308,000. one8zero8 LLC bought a new stake in Microchip Technology during the fourth quarter valued at $384,000. Symphony Financial Ltd. Co. bought a new stake in Microchip Technology during the fourth quarter valued at $520,000. Truist Financial Corp boosted its position in Microchip Technology by 5.8% during the fourth quarter. Truist Financial Corp now owns 959,439 shares of the semiconductor company's stock valued at $55,024,000 after acquiring an additional 52,222 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position 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 valued at $3,952,123,000 after acquiring an additional 569,699 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO James Eric Bjornholt sold 2,015 shares of Microchip Technology stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $55.78, for a total value of $112,396.70. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karlton D. Johnson sold 494 shares of Microchip Technology stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $60.69, for a total value of $29,980.86. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

Microchip Technology Trading Up 0.6%

Shares of NASDAQ:MCHP traded up $0.34 during trading on Thursday, hitting $57.80. The company had a trading volume of 1,903,165 shares, compared to its average volume of 8,599,647. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The company has a fifty day simple moving average of $48.37 and a two-hundred day simple moving average of $55.16. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $98.10. The stock has a market cap of $31.13 billion, a price-to-earnings ratio of 102.89 and a beta of 1.42.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. The company had revenue of $970.50 million for the quarter, compared to the consensus estimate of $962.86 million. Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. Microchip Technology's quarterly revenue was down 26.8% on a year-over-year basis. During the same period last year, the business posted $0.57 EPS. As a group, equities analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The firm also recently disclosed 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 3.15%. Microchip Technology's payout ratio is -18,200.00%.

Analyst Upgrades and Downgrades

MCHP has been the topic of a number of research analyst reports. Mizuho upped their price target on shares of Microchip Technology from $58.00 to $68.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. Stifel Nicolaus increased their target price on shares of Microchip Technology from $60.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, May 9th. KeyCorp cut 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. Wall Street Zen downgraded shares of Microchip Technology from a "hold" rating to a "sell" rating in a report on Monday, February 10th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $66.00 price objective on shares of Microchip Technology in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, five have issued 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, Microchip Technology has a consensus rating of "Moderate Buy" and an average price target of $67.42.

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.