Blue Trust Inc. Sells 6,760 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Blue Trust Inc. trimmed its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 64.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,773 shares of the semiconductor company’s stock after selling 6,760 shares during the quarter. Blue Trust Inc.’s holdings in Microchip Technology were worth $216,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Prospera Private Wealth LLC bought a new position in Microchip Technology in the third quarter valued at approximately $29,000. Peterson Financial Group Inc. bought a new position in Microchip Technology in the third quarter valued at approximately $34,000. Truvestments Capital LLC bought a new position in Microchip Technology in the third quarter valued at approximately $34,000. Financial Life Planners bought a new position in Microchip Technology in the fourth quarter valued at approximately $32,000. Finally, Hobbs Group Advisors LLC grew its stake in Microchip Technology by 390.6% in the third quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 500 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Price Performance

Shares of NASDAQ MCHP opened at $63.59 on Thursday. The stock has a market capitalization of $34.20 billion, a PE ratio of 113.55 and a beta of 1.50. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The business has a fifty day moving average price of $56.58 and a two-hundred day moving average price of $68.22. Microchip Technology Incorporated has a fifty-two week low of $50.21 and a fifty-two week high of $100.57.

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

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Monday, February 24th will be issued a $0.455 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 2.86%. Microchip Technology’s dividend payout ratio is presently 325.00%.

Wall Street Analyst Weigh In

MCHP has been the subject of a number of analyst reports. Susquehanna decreased their price target on Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a research note on Wednesday, November 6th. TD Cowen reduced their target price on Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Rosenblatt Securities reiterated a “buy” rating and set a $90.00 target price on shares of Microchip Technology in a research note on Thursday, February 6th. Stifel Nicolaus reduced their target price on Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, December 3rd. Finally, Piper Sandler reiterated an “overweight” rating and set a $65.00 target price (down from $85.00) 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 issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Microchip Technology currently has an average rating of “Moderate Buy” and a consensus 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.