J. Goldman & Co LP Decreases Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

J. Goldman & Co LP trimmed its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 80.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,432 shares of the semiconductor company's stock after selling 97,334 shares during the quarter. J. Goldman & Co LP's holdings in Microchip Technology were worth $1,344,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Mainstream Capital Management LLC bought a new position in Microchip Technology during the 4th quarter valued at about $26,000. Rakuten Securities Inc. grew its holdings in Microchip Technology by 309.5% during the 4th 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 4th quarter valued at about $29,000. Financial Life Planners bought a new position in Microchip Technology during the 4th quarter valued at about $32,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in Microchip Technology during the 4th quarter valued at about $34,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the sale, the chief financial officer now owns 33,272 shares of the company's stock, valued at $2,025,599.36. This represents a 10.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.10% of the stock is currently owned by corporate insiders.

Microchip Technology Stock Up 0.2%

Shares of MCHP traded up $0.15 during mid-day trading on Thursday, hitting $60.80. The company's stock had a trading volume of 8,416,248 shares, compared to its average volume of 8,514,741. The company's 50-day moving average is $47.18 and its 200-day moving average is $56.27. Microchip Technology Incorporated has a 52-week low of $34.13 and a 52-week high of $100.57. The firm has a market capitalization of $32.75 billion, a price-to-earnings ratio of 108.57 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 announced its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. The firm had revenue of $970.50 million during the quarter, compared to analysts' expectations of $962.86 million. During the same quarter in the prior year, the company earned $0.57 EPS. The company's revenue was down 26.8% compared to the same quarter last year. On average, equities research analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 22nd will be given a dividend of $0.455 per share. The ex-dividend date is Thursday, May 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 2.99%. Microchip Technology's payout ratio is -18,200.00%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. TD Cowen upped their price target on shares of Microchip Technology from $35.00 to $55.00 and gave the company a "hold" rating in a report on Friday, May 9th. Evercore ISI upped their price target on shares of Microchip Technology from $65.00 to $71.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. Stifel Nicolaus upped their price target on shares of Microchip Technology from $60.00 to $70.00 and gave the company a "buy" rating in a report on Friday, May 9th. Rosenblatt Securities reiterated a "buy" rating and set a $70.00 price target on shares of Microchip Technology in a report on Tuesday, March 4th. Finally, Truist Financial upped their target price on shares of Microchip Technology from $43.00 to $52.00 and gave the stock a "hold" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $67.42.

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.