Compass Ion Advisors LLC Sells 553 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Compass Ion Advisors LLC decreased its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 4.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,001 shares of the semiconductor company’s stock after selling 553 shares during the period. Compass Ion Advisors LLC’s holdings in Microchip Technology were worth $746,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Xponance Inc. boosted its stake in Microchip Technology by 12.0% in the 4th quarter. Xponance Inc. now owns 81,519 shares of the semiconductor company’s stock worth $4,675,000 after purchasing an additional 8,707 shares in the last quarter. Generali Asset Management SPA SGR bought a new position in Microchip Technology during the 4th quarter valued at about $598,000. Advisors Asset Management Inc. lifted its stake in Microchip Technology by 72.9% during the 4th quarter. Advisors Asset Management Inc. now owns 59,673 shares of the semiconductor company’s stock valued at $3,422,000 after acquiring an additional 25,151 shares during the period. RD Lewis Holdings Inc. bought a new position in Microchip Technology during the 4th quarter valued at about $638,000. Finally, Cibc World Markets Corp lifted its stake in Microchip Technology by 14.3% during the 4th quarter. Cibc World Markets Corp now owns 96,623 shares of the semiconductor company’s stock valued at $5,541,000 after acquiring an additional 12,066 shares during the period. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Trading Down 1.9 %

Microchip Technology stock opened at $54.20 on Wednesday. The firm has a 50 day moving average of $56.38 and a 200 day moving average of $65.21. The firm has a market capitalization of $29.15 billion, a price-to-earnings ratio of 96.79 and a beta of 1.52. Microchip Technology Incorporated has a 12-month low of $50.21 and a 12-month high of $100.57. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. As a group, research analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The business 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. This represents a $1.82 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date was Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is currently 325.00%.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the sale, the chief financial officer now directly owns 33,272 shares of the company’s stock, valued at $2,025,599.36. This trade represents a 10.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

MCHP has been the topic of several research analyst reports. Raymond James restated a “strong-buy” rating and set a $60.00 target price (down previously from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. Stifel Nicolaus lowered their target price on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, December 3rd. The Goldman Sachs Group lowered their target price 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. B. Riley restated a “buy” rating and set a $75.00 target price (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Finally, Needham & Company LLC increased their price objective on shares of Microchip Technology from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus 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.