EntryPoint Capital LLC Invests $269,000 in Microchip Technology Incorporated (NASDAQ:MCHP)

EntryPoint Capital LLC acquired a new position in Microchip Technology Incorporated (NASDAQ:MCHP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,688 shares of the semiconductor company’s stock, valued at approximately $269,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Van ECK Associates Corp raised its holdings in Microchip Technology by 39.3% in the 4th quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company’s stock valued at $636,184,000 after acquiring an additional 3,131,807 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Microchip Technology by 9,901.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock valued at $163,886,000 after purchasing an additional 2,829,082 shares in the last quarter. Madison Investment Advisors LLC bought a new position in Microchip Technology in the fourth quarter worth $78,661,000. Franklin Resources Inc. lifted its position in Microchip Technology by 30.2% in the third quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company’s stock worth $264,430,000 after purchasing an additional 776,408 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Microchip Technology by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 68,912,345 shares of the semiconductor company’s stock worth $3,952,123,000 after buying an additional 569,699 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MCHP shares. Needham & Company LLC raised their price objective on shares of Microchip Technology from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Piper Sandler reissued an “overweight” rating and issued a $65.00 price target (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. StockNews.com downgraded Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 10th. B. Riley reissued a “buy” rating and issued a $75.00 target price (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Finally, Morgan Stanley decreased their price target on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average target price of $74.37.

Microchip Technology Price Performance

MCHP opened at $48.70 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The stock has a market capitalization of $26.19 billion, a P/E ratio of 86.96 and a beta of 1.52. The company’s 50 day simple moving average is $55.65 and its 200-day simple moving average is $63.98. Microchip Technology Incorporated has a one year low of $48.27 and a one year high of $100.57.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 EPS 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%. Sell-side analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were issued a dividend of $0.455 per share. The ex-dividend date was Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.74%. Microchip Technology’s dividend payout ratio is currently 325.00%.

Insider Buying and Selling at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the transaction, the chief financial officer now owns 33,272 shares of the company’s stock, valued at $2,025,599.36. This represents a 10.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

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.