ETF Managers Group LLC lowered its stake in shares of Microchip Technology Inc. (NASDAQ:MCHP) by 23.6% during the first quarter, HoldingsChannel.com reports. The fund owned 6,356 shares of the semiconductor company’s stock after selling 1,964 shares during the period. ETF Managers Group LLC’s holdings in Microchip Technology were worth $527,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Osborn Williams & Donohoe LLC purchased a new stake in shares of Microchip Technology during the first quarter worth $31,000. Clarfeld Financial Advisors LLC purchased a new stake in shares of Microchip Technology during the fourth quarter worth $26,000. Morgan Dempsey Capital Management LLC purchased a new stake in shares of Microchip Technology during the fourth quarter worth $28,000. Parkside Financial Bank & Trust increased its holdings in Microchip Technology by 65.3% in the first quarter. Parkside Financial Bank & Trust now owns 433 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 171 shares during the last quarter. Finally, Lindbrook Capital LLC purchased a new position in Microchip Technology in the fourth quarter valued at $32,000.
Several equities analysts recently commented on MCHP shares. Zacks Investment Research lowered Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 11th. TheStreet raised Microchip Technology from a “c+” rating to a “b-” rating in a report on Thursday, February 21st. B. Riley increased their target price on Microchip Technology from $105.00 to $125.00 and gave the company a “buy” rating in a report on Monday, May 6th. Citigroup reissued a “buy” rating and issued a $105.00 target price on shares of Microchip Technology in a report on Thursday, February 7th. Finally, BidaskClub lowered Microchip Technology from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. Microchip Technology presently has a consensus rating of “Hold” and an average target price of $104.32.
Shares of MCHP opened at $81.95 on Wednesday. Microchip Technology Inc. has a fifty-two week low of $60.70 and a fifty-two week high of $104.20. The stock has a market cap of $19.73 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 1.10 and a beta of 1.31. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.93 and a quick ratio of 0.63.
Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Tuesday, May 7th. The semiconductor company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.08. Microchip Technology had a net margin of 6.65% and a return on equity of 29.27%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the firm earned $1.40 earnings per share. The business’s quarterly revenue was up 32.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Microchip Technology Inc. will post 5.61 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be paid a dividend of $0.3655 per share. This is an increase from Microchip Technology’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, May 20th. This represents a $1.46 annualized dividend and a dividend yield of 1.78%. Microchip Technology’s dividend payout ratio is 24.01%.
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Microchip Technology Profile
Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.
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