Green Alpha Advisors LLC Sells 785 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Green Alpha Advisors LLC lessened its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 8.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 8,148 shares of the semiconductor company’s stock after selling 785 shares during the period. Green Alpha Advisors LLC’s holdings in Microchip Technology were worth $467,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Prospera Private Wealth LLC acquired a new position in 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 acquired a new position in shares of Microchip Technology during the third quarter worth approximately $34,000. Wolff Wiese Magana LLC lifted its holdings in shares of Microchip Technology by 55.2% in 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, Hobbs Group Advisors LLC grew its position in Microchip Technology by 390.6% in the 3rd quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 500 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Price Performance

NASDAQ MCHP opened at $55.19 on Monday. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The company has a market cap of $29.64 billion, a PE ratio of 38.59 and a beta of 1.52. Microchip Technology Incorporated has a 52 week low of $54.47 and a 52 week high of $100.57. The firm’s 50-day simple moving average is $62.84 and its two-hundred day simple moving average is $74.80.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The business’s revenue for the quarter was down 48.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.54 EPS. Research analysts predict that Microchip Technology Incorporated will post 1.33 earnings per share for the current year.

Microchip Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were paid a $0.455 dividend. The ex-dividend date was Friday, November 22nd. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a yield of 3.30%. Microchip Technology’s dividend payout ratio is currently 127.27%.

Analyst Upgrades and Downgrades

MCHP has been the topic of a number of recent research reports. 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. StockNews.com raised shares of Microchip Technology from a “sell” rating to a “hold” rating in a research report on Friday, December 13th. Piper Sandler decreased their price objective on Microchip Technology from $100.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. Stifel Nicolaus lowered their price objective on Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, December 3rd. Finally, Citigroup cut their target price 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $87.11.

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.