Yousif Capital Management LLC Reduces Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Yousif Capital Management LLC reduced its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 4.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 71,628 shares of the semiconductor company’s stock after selling 3,632 shares during the period. Yousif Capital Management LLC’s holdings in Microchip Technology were worth $6,459,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BKM Wealth Management LLC acquired a new stake in shares of Microchip Technology in the 4th quarter worth $27,000. Rakuten Securities Inc. acquired a new stake in shares of Microchip Technology in the 4th quarter worth $27,000. Fortitude Family Office LLC acquired a new stake in shares of Microchip Technology in the 4th quarter worth $29,000. OFI Invest Asset Management acquired a new stake in shares of Microchip Technology in the 3rd quarter worth $26,000. Finally, Milestone Investment Advisors LLC acquired a new stake in shares of Microchip Technology in the 3rd quarter worth $36,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MCHP has been the subject of several recent analyst reports. Stifel Nicolaus raised their target price on shares of Microchip Technology from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Evercore ISI initiated coverage on shares of Microchip Technology in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $106.00 price objective for the company. Needham & Company LLC raised their price objective 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. Piper Sandler cut shares of Microchip Technology from an “overweight” rating to a “neutral” rating and set a $80.00 target price for the company. in a research report on Thursday, January 4th. Finally, Susquehanna restated a “positive” rating and set a $100.00 target price on shares of Microchip Technology in a research report on Monday, April 8th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Microchip Technology presently has an average rating of “Moderate Buy” and an average price target of $92.50.

Microchip Technology Price Performance

Microchip Technology stock opened at $92.21 on Friday. Microchip Technology Incorporated has a 1 year low of $68.75 and a 1 year high of $94.30. The firm has a 50 day moving average price of $87.00 and a 200 day moving average price of $84.55. The company has a market cap of $49.83 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 2.77 and a beta of 1.65. 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 (NASDAQ:MCHP) last released its 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. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the firm earned $1.48 earnings per share. Microchip Technology’s revenue was down 18.6% compared to the same quarter last year. Sell-side analysts predict that Microchip Technology Incorporated will post 4.64 earnings per share for the current year.

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.95%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 22nd. Microchip Technology’s payout ratio is 42.06%.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, Director Karlton D. Johnson sold 370 shares of Microchip Technology stock in a transaction that occurred 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 transaction, the director now directly owns 1,789 shares of the company’s stock, valued at $150,276. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO James Eric Bjornholt sold 1,970 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $83.90, for a total transaction of $165,283.00. Following the transaction, the chief financial officer now directly owns 32,893 shares of the company’s stock, valued at $2,759,722.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Karlton D. Johnson sold 370 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total transaction of $31,080.00. Following the transaction, the director now directly owns 1,789 shares in the company, valued at $150,276. The disclosure for this sale can be found here. 2.07% of the stock is currently owned by corporate insiders.

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.