Hexagon Capital Partners LLC Decreases Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Hexagon Capital Partners LLC decreased its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 20.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 483 shares of the semiconductor company’s stock after selling 128 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Microchip Technology were worth $43,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MCHP. BKM Wealth Management LLC purchased a new position in Microchip Technology in the 4th quarter valued at about $27,000. Rakuten Securities Inc. purchased a new position in Microchip Technology in the fourth quarter valued at about $27,000. Rise Advisors LLC acquired a new stake in Microchip Technology during the 1st quarter valued at approximately $28,000. Fortitude Family Office LLC purchased a new stake in Microchip Technology during the 4th quarter worth approximately $29,000. Finally, Pineridge Advisors LLC acquired a new position in shares of Microchip Technology in the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In other Microchip Technology news, VP Stephen V. Drehobl sold 10,000 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $90.88, for a total transaction of $908,800.00. Following the completion of the transaction, the vice president now directly owns 82,203 shares of the company’s stock, valued at approximately $7,470,608.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Microchip Technology news, VP Stephen V. Drehobl sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $90.88, for a total value of $908,800.00. Following the completion of the sale, the vice president now directly owns 82,203 shares of the company’s stock, valued at approximately $7,470,608.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew W. Chapman sold 2,748 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $93.88, for a total transaction of $257,982.24. Following the transaction, the director now owns 35,682 shares of the company’s stock, valued at approximately $3,349,826.16. The disclosure for this sale can be found here. Insiders have sold a total of 23,993 shares of company stock valued at $2,251,857 over the last quarter. Corporate insiders own 2.07% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on MCHP. Truist Financial upped their price target on shares of Microchip Technology from $93.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. TD Cowen increased their price target on shares of Microchip Technology from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Tuesday, May 7th. Evercore ISI initiated coverage on Microchip Technology in a report on Tuesday, April 16th. They issued an “outperform” rating and a $106.00 price objective for the company. Jefferies Financial Group assumed coverage on Microchip Technology in a report on Monday, May 13th. They set a “buy” rating and a $115.00 target price on the stock. Finally, The Goldman Sachs Group boosted their price target on Microchip Technology from $77.00 to $88.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Microchip Technology has a consensus rating of “Moderate Buy” and a consensus price target of $101.06.

Microchip Technology Stock Up 0.1 %

Shares of Microchip Technology stock opened at $91.59 on Tuesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.20 and a quick ratio of 0.67. Microchip Technology Incorporated has a 1-year low of $68.75 and a 1-year high of $100.57. The business’s fifty day moving average price is $93.02 and its two-hundred day moving average price is $89.10. The company has a market capitalization of $49.17 billion, a P/E ratio of 26.39 and a beta of 1.54.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Monday, May 6th. The semiconductor company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Microchip Technology had a net margin of 24.98% and a return on equity of 36.78%. The company’s revenue was down 40.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.56 earnings per share. As a group, research analysts forecast that Microchip Technology Incorporated will post 2.35 EPS for the current year.

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were paid a dividend of $0.452 per share. This represents a $1.81 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Tuesday, May 21st. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio (DPR) is currently 52.16%.

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.