Kintegral Advisory LLC Sells 559 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Kintegral Advisory LLC lowered its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 4.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,001 shares of the semiconductor company’s stock after selling 559 shares during the quarter. Kintegral Advisory LLC’s holdings in Microchip Technology were worth $688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Prospera Private Wealth LLC purchased a new position in shares of Microchip Technology during the 3rd quarter worth approximately $29,000. Peterson Financial Group Inc. bought a new stake in shares of Microchip Technology during the third quarter valued at approximately $34,000. Truvestments Capital LLC bought a new stake in shares of Microchip Technology during the third quarter valued at approximately $34,000. Financial Life Planners purchased a new stake in Microchip Technology in the fourth quarter worth $32,000. Finally, Hobbs Group Advisors LLC raised its holdings in Microchip Technology by 390.6% in the third quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 500 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Microchip Technology Price Performance

MCHP opened at $61.07 on Friday. The stock has a market capitalization of $32.84 billion, a P/E ratio of 109.05 and a beta of 1.50. Microchip Technology Incorporated has a 52-week low of $50.21 and a 52-week high of $100.57. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. The company’s 50-day simple moving average is $56.70 and its two-hundred day simple moving average is $68.03.

Microchip Technology (NASDAQ:MCHP) last released its 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%. As a group, analysts predict 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. Stockholders of record on Monday, February 24th will be given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 2.98%. The ex-dividend date is Monday, February 24th. Microchip Technology’s payout ratio is currently 325.00%.

Analyst Upgrades and Downgrades

MCHP has been the topic of a number of research reports. Piper Sandler restated an “overweight” rating and set a $65.00 target price (down previously from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. The Goldman Sachs Group dropped their price objective on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Jefferies Financial Group decreased their target price on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Citigroup dropped their price target on Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Finally, StockNews.com lowered Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $77.11.

About Microchip Technology

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.