Applied Finance Capital Management LLC Has $652,000 Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Applied Finance Capital Management LLC decreased its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 98.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,370 shares of the semiconductor company’s stock after selling 620,159 shares during the period. Applied Finance Capital Management LLC’s holdings in Microchip Technology were worth $652,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Pallas Capital Advisors LLC acquired a new position in Microchip Technology in the fourth quarter valued at about $5,917,000. Consolidated Planning Corp acquired a new position in shares of Microchip Technology in the 4th quarter valued at approximately $308,000. one8zero8 LLC bought a new stake in Microchip Technology during the 4th quarter worth approximately $384,000. Symphony Financial Ltd. Co. acquired a new stake in Microchip Technology during the 4th quarter worth approximately $520,000. Finally, Truist Financial Corp lifted its stake in Microchip Technology by 5.8% in the fourth quarter. Truist Financial Corp now owns 959,439 shares of the semiconductor company’s stock valued at $55,024,000 after buying an additional 52,222 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

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 dated Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.10% of the company’s stock.

Microchip Technology Price Performance

Shares of NASDAQ MCHP opened at $35.34 on Wednesday. Microchip Technology Incorporated has a twelve month low of $34.13 and a twelve month high of $100.57. The company has a market cap of $19.01 billion, a PE ratio of 63.11 and a beta of 1.51. The business’s 50 day moving average price is $53.07 and its two-hundred day moving average price is $61.90. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results 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 net margin of 6.49% and a return on equity of 12.62%. On average, analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 5.15%. The ex-dividend date was Monday, February 24th. Microchip Technology’s payout ratio is 325.00%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MCHP. StockNews.com downgraded shares of Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Raymond James reiterated a “strong-buy” rating and set a $60.00 price objective (down from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. Needham & Company LLC boosted their target price on Microchip Technology from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. KeyCorp cut their price objective on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $70.00 target price on shares of Microchip Technology in a research report on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $74.37.

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.