GPM Growth Investors Inc. Sells 1,655 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

GPM Growth Investors Inc. lowered its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 75,096 shares of the semiconductor company’s stock after selling 1,655 shares during the period. Microchip Technology makes up 1.8% of GPM Growth Investors Inc.’s portfolio, making the stock its 20th biggest position. GPM Growth Investors Inc.’s holdings in Microchip Technology were worth $4,307,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Mainstream Capital Management LLC acquired a new stake in shares of Microchip Technology during the fourth quarter worth about $26,000. Prospera Private Wealth LLC acquired a new stake in shares of Microchip Technology during the third quarter worth about $29,000. Financial Life Planners acquired a new stake in shares of Microchip Technology during the fourth quarter worth about $32,000. Peterson Financial Group Inc. acquired a new stake in Microchip Technology in the 3rd quarter valued at approximately $34,000. Finally, Truvestments Capital LLC acquired a new stake in Microchip Technology in the 3rd quarter valued at approximately $34,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Stock Performance

MCHP opened at $59.64 on Thursday. The business has a fifty day simple moving average of $56.95 and a 200 day simple moving average of $66.99. The company has a market capitalization of $32.08 billion, a PE ratio of 106.50 and a beta of 1.52. Microchip Technology Incorporated has a 1 year low of $50.21 and a 1 year high of $100.57. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) 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%. Research analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current 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 3.05%. Microchip Technology’s dividend payout ratio is presently 325.00%.

Insider Buying and Selling at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the transaction, the chief financial officer now owns 33,272 shares of the company’s stock, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. B. Riley reissued a “buy” rating and issued a $75.00 target price (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. KeyCorp dropped their target price on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. TD Cowen lifted their target price on Microchip Technology from $50.00 to $60.00 and gave the company a “hold” rating in a research report on Tuesday. Needham & Company LLC lifted their target price on Microchip Technology from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, StockNews.com lowered Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Microchip Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.37.

Microchip Technology Company 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.