Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Aptus Capital Advisors LLC

Aptus Capital Advisors LLC trimmed its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 4.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,857 shares of the semiconductor company’s stock after selling 203 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Microchip Technology were worth $390,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pathway Financial Advisers LLC acquired a new position in shares of Microchip Technology during the first quarter worth about $39,000. Versant Capital Management Inc grew its position in Microchip Technology by 148.8% during the second quarter. Versant Capital Management Inc now owns 530 shares of the semiconductor company’s stock worth $48,000 after buying an additional 317 shares during the period. TruNorth Capital Management LLC purchased a new position in shares of Microchip Technology during the 2nd quarter worth approximately $55,000. Wolff Wiese Magana LLC increased its stake in shares of Microchip Technology by 55.2% during the 3rd quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 218 shares in the last quarter. Finally, Family Firm Inc. purchased a new position in shares of Microchip Technology during the 2nd quarter worth approximately $62,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Price Performance

MCHP opened at $62.86 on Friday. The company has a 50-day moving average of $75.88 and a 200-day moving average of $84.33. The company has a market capitalization of $33.76 billion, a P/E ratio of 43.96 and a beta of 1.53. Microchip Technology Incorporated has a 1-year low of $62.63 and a 1-year high of $100.57. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the firm earned $1.54 EPS. The company’s revenue for the quarter was down 48.4% compared to the same quarter last year. Equities analysts expect that Microchip Technology Incorporated will post 1.38 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Friday, November 22nd. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio is currently 127.27%.

Analyst Ratings Changes

A number of analysts recently issued reports on MCHP shares. StockNews.com lowered shares of Microchip Technology from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Bank of America lowered shares of Microchip Technology from a “buy” rating to a “neutral” rating and decreased their price target for the company from $110.00 to $90.00 in a report on Friday, August 2nd. Mizuho set a $95.00 price target on shares of Microchip Technology in a report on Friday, October 18th. Citigroup decreased their price target on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Microchip Technology from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $92.00.

Insider Activity at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,154 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $2,710,445.50. The trade was a 6.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.10% of the company’s stock.

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.