Rogco LP Cuts Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Rogco LP trimmed its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 1.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,098 shares of the semiconductor company’s stock after selling 178 shares during the quarter. Rogco LP’s holdings in Microchip Technology were worth $1,132,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pathway Financial Advisers LLC bought a new stake in shares of Microchip Technology in the 1st quarter worth approximately $39,000. Richardson Capital Management LLC purchased a new stake in Microchip Technology during the first quarter valued at about $45,000. Versant Capital Management Inc raised its stake in Microchip Technology by 148.8% during the 2nd quarter. Versant Capital Management Inc now owns 530 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 317 shares during the period. Wolff Wiese Magana LLC grew its position in Microchip Technology by 55.2% during the third quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 218 shares in the last quarter. Finally, GoalVest Advisory LLC raised its holdings in shares of Microchip Technology by 49.8% during the first quarter. GoalVest Advisory LLC now owns 602 shares of the semiconductor company’s stock worth $54,000 after acquiring an additional 200 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Stock Down 0.0 %

Microchip Technology stock traded down $0.02 during trading hours on Thursday, hitting $75.25. The stock had a trading volume of 1,002,856 shares, compared to its average volume of 5,929,516. The company has a quick ratio of 1.08, a current ratio of 1.94 and a debt-to-equity ratio of 0.96. Microchip Technology Incorporated has a 12-month low of $68.75 and a 12-month high of $100.57. The stock has a market capitalization of $40.37 billion, a P/E ratio of 21.90 and a beta of 1.52. The stock’s 50-day moving average price is $78.13 and its 200-day moving average price is $85.90.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, August 1st. The semiconductor company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. Microchip Technology had a net margin of 20.80% and a return on equity of 28.33%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the prior year, the business earned $1.56 earnings per share. Microchip Technology’s revenue for the quarter was down 45.8% on a year-over-year basis. Equities research analysts anticipate that Microchip Technology Incorporated will post 1.73 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were issued a $0.454 dividend. This represents a $1.82 annualized dividend and a dividend yield of 2.41%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, August 22nd. Microchip Technology’s dividend payout ratio is currently 52.16%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. StockNews.com upgraded Microchip Technology from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price target on shares of Microchip Technology in a research note on Wednesday, July 31st. JPMorgan Chase & Co. reduced their price target on shares of Microchip Technology from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. TD Cowen cut their price target on Microchip Technology from $90.00 to $80.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Finally, Bank of America downgraded Microchip Technology from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $110.00 to $90.00 in a report on Friday, August 2nd. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Microchip Technology has a consensus rating of “Moderate Buy” and a consensus price target of $97.89.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 2,154 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $81.50, for a total transaction of $175,551.00. Following the completion of the transaction, the chief financial officer now directly owns 33,257 shares in the company, valued at $2,710,445.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.07% of the stock is owned by corporate insiders.

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.