Microchip Technology Incorporated (NASDAQ:MCHP) Stock Holdings Lessened by Bridgewater Advisors Inc.

Bridgewater Advisors Inc. cut its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 0.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 18,211 shares of the semiconductor company’s stock after selling 133 shares during the quarter. Bridgewater Advisors Inc.’s holdings in Microchip Technology were worth $1,642,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Horizon Bancorp Inc. IN acquired a new stake in Microchip Technology during the 4th quarter valued at $110,000. Rockline Wealth Management LLC bought a new position in Microchip Technology during the fourth quarter valued at about $4,449,000. 17 Capital Partners LLC bought a new position in shares of Microchip Technology in the 4th quarter valued at approximately $1,827,000. AIA Group Ltd lifted its holdings in Microchip Technology by 80.4% in the 4th quarter. AIA Group Ltd now owns 29,910 shares of the semiconductor company’s stock worth $2,697,000 after purchasing an additional 13,326 shares during the last quarter. Finally, GAM Holding AG boosted its position in Microchip Technology by 13.9% during the fourth quarter. GAM Holding AG now owns 145,575 shares of the semiconductor company’s stock worth $13,128,000 after purchasing an additional 17,776 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Karlton D. Johnson sold 370 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total transaction of $31,080.00. Following the completion of the transaction, the director now owns 1,789 shares of the company’s stock, valued at $150,276. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Karlton D. Johnson sold 370 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total transaction of $31,080.00. Following the sale, the director now owns 1,789 shares in the company, valued at approximately $150,276. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO James Eric Bjornholt sold 1,970 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 32,893 shares of the company’s stock, valued at $2,759,722.70. The disclosure for this sale can be found here. 2.07% of the stock is owned by company insiders.

Microchip Technology Stock Performance

NASDAQ:MCHP traded down $1.20 during trading hours on Tuesday, reaching $91.98. The stock had a trading volume of 6,026,112 shares, compared to its average volume of 5,571,717. The stock has a market cap of $49.71 billion, a P/E ratio of 21.77, a price-to-earnings-growth ratio of 2.86 and a beta of 1.65. The stock has a 50 day simple moving average of $87.47 and a 200 day simple moving average of $84.79. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 0.98. Microchip Technology Incorporated has a 12-month low of $68.75 and a 12-month high of $94.63.

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

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were paid a dividend of $0.45 per share. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.80 annualized dividend and a yield of 1.96%. Microchip Technology’s dividend payout ratio (DPR) is currently 42.06%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MCHP shares. TD Cowen lifted their target price on shares of Microchip Technology from $75.00 to $80.00 and gave the stock a “market perform” rating in a report on Friday, February 2nd. Susquehanna restated a “positive” rating and issued a $100.00 price target on shares of Microchip Technology in a research report on Monday, April 8th. Needham & Company LLC upped their target price on shares of Microchip Technology from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Rosenblatt Securities reissued a “buy” rating and set a $100.00 price objective on shares of Microchip Technology in a report on Tuesday, January 30th. Finally, The Goldman Sachs Group cut their price objective on Microchip Technology from $87.00 to $77.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $92.50.

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.