Villere ST Denis J & Co. LLC Reduces Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Villere ST Denis J & Co. LLC lessened its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 10.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 239,372 shares of the semiconductor company's stock after selling 26,600 shares during the quarter. Villere ST Denis J & Co. LLC's holdings in Microchip Technology were worth $21,587,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Halpern Financial Inc. lifted its position in Microchip Technology by 83.5% in the second quarter. Halpern Financial Inc. now owns 290 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 132 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of Microchip Technology in the third quarter valued at approximately $26,000. BKM Wealth Management LLC purchased a new position in shares of Microchip Technology during the fourth quarter valued at approximately $27,000. Fortitude Family Office LLC purchased a new position in shares of Microchip Technology during the fourth quarter valued at approximately $29,000. Finally, Almanack Investment Partners LLC. purchased a new position in Microchip Technology during the third quarter worth approximately $29,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Microchip Technology Trading Up 1.8 %

Shares of MCHP stock traded up $1.58 during trading hours on Monday, reaching $89.15. 5,074,763 shares of the stock traded hands, compared to its average volume of 5,638,668. Microchip Technology Incorporated has a 1-year low of $68.75 and a 1-year high of $94.30. The business has a fifty day moving average price of $86.18 and a 200 day moving average price of $83.71. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $48.18 billion, a PE ratio of 20.83, a PEG ratio of 2.67 and a beta of 1.65.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.04 by $0.04. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.77 billion. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The firm's revenue was down 18.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.48 earnings per share. On average, equities research analysts forecast that Microchip Technology Incorporated will post 4.64 EPS for the current year.

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Thursday, February 22nd. This is a positive change from Microchip Technology's previous quarterly dividend of $0.44. Microchip Technology's dividend payout ratio is currently 42.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MCHP shares. Piper Sandler lowered shares of Microchip Technology from an "overweight" rating to a "neutral" rating and set a $80.00 price objective for the company. in a research report on Thursday, January 4th. The Goldman Sachs Group cut their price objective on shares of Microchip Technology from $87.00 to $77.00 and set a "neutral" rating on the stock in a research report on Friday, February 2nd. Wolfe Research upgraded shares of Microchip Technology from a "peer perform" rating to an "outperform" rating and set a $105.00 price target on the stock in a research report on Thursday, January 18th. UBS Group dropped their price target on shares of Microchip Technology from $105.00 to $95.00 and set a "buy" rating on the stock in a research report on Friday, February 2nd. Finally, TD Cowen boosted their price target on shares of Microchip Technology from $75.00 to $80.00 and gave the stock a "market perform" rating in a research report on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $91.33.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, Director Karlton D. Johnson sold 370 shares of the company's stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total value of $31,080.00. Following the transaction, the director now owns 1,789 shares in the company, valued at approximately $150,276. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Microchip Technology news, Director Karlton D. Johnson sold 370 shares of the business's stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total value of $31,080.00. Following the completion of the sale, the director now directly owns 1,789 shares of the company's stock, valued at $150,276. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James Eric Bjornholt sold 1,970 shares of the business's stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total transaction of $165,283.00. Following the completion of the sale, the chief financial officer now directly owns 32,893 shares of the company's stock, valued at $2,759,722.70. The disclosure for this sale can be found here. Company insiders own 2.07% of the company's stock.

Microchip Technology Profile

Microchip Technology Incorporated develops, manufactures, and sells 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 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.