Transcend Capital Advisors LLC Sells 5,555 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Transcend Capital Advisors LLC decreased its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 57.3% in the fourth quarter, HoldingsChannel reports. The fund owned 4,142 shares of the semiconductor company’s stock after selling 5,555 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Microchip Technology were worth $238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Waterfront Wealth Inc. boosted its holdings in Microchip Technology by 47.5% in the 4th quarter. Waterfront Wealth Inc. now owns 19,409 shares of the semiconductor company’s stock worth $1,113,000 after buying an additional 6,251 shares during the period. Handelsbanken Fonder AB boosted its holdings in Microchip Technology by 17.0% in the 4th quarter. Handelsbanken Fonder AB now owns 277,224 shares of the semiconductor company’s stock worth $15,899,000 after buying an additional 40,274 shares during the period. Private Advisor Group LLC boosted its holdings in Microchip Technology by 0.6% in the 4th quarter. Private Advisor Group LLC now owns 60,169 shares of the semiconductor company’s stock worth $3,451,000 after buying an additional 373 shares during the period. Bank of Jackson Hole Trust bought a new position in Microchip Technology in the 4th quarter worth $461,000. Finally, Venturi Wealth Management LLC boosted its holdings in Microchip Technology by 54.7% in the 4th quarter. Venturi Wealth Management LLC now owns 12,668 shares of the semiconductor company’s stock worth $727,000 after buying an additional 4,478 shares during the period. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Down 5.0 %

Shares of NASDAQ MCHP opened at $61.07 on Monday. The firm’s 50-day moving average price is $56.70 and its 200-day moving average price is $68.00. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $32.84 billion, a price-to-earnings ratio of 109.05 and a beta of 1.50. Microchip Technology Incorporated has a 12-month low of $50.21 and a 12-month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. On average, equities research analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is currently 325.00%.

Analyst Ratings Changes

Several research analysts recently weighed in on MCHP shares. Piper Sandler reaffirmed an “overweight” rating and issued a $65.00 target price (down previously from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Stifel Nicolaus decreased their price target on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, December 3rd. Bank of America cut shares of Microchip Technology from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $80.00 to $65.00 in a research note on Monday, December 16th. The Goldman Sachs Group decreased their price target on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Finally, Raymond James reiterated a “strong-buy” rating and issued a $60.00 price target (down previously from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.11.

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.