Dynasty Wealth Management LLC Has $802,000 Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Dynasty Wealth Management LLC lessened its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 21.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,980 shares of the semiconductor company’s stock after selling 3,883 shares during the quarter. Dynasty Wealth Management LLC’s holdings in Microchip Technology were worth $802,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its holdings in Microchip Technology by 39.3% during the 4th quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company’s stock worth $636,184,000 after buying an additional 3,131,807 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Microchip Technology by 9,901.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock worth $163,886,000 after acquiring an additional 2,829,082 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Microchip Technology by 30.2% during the third quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company’s stock worth $264,430,000 after acquiring an additional 776,408 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Microchip Technology by 20.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,751,987 shares of the semiconductor company’s stock valued at $220,957,000 after acquiring an additional 460,697 shares in the last quarter. Finally, DF Dent & Co. Inc. bought a new stake in Microchip Technology in the 3rd quarter valued at $27,744,000. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MCHP has been the topic of several recent research reports. 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 note on Friday, February 7th. The Goldman Sachs Group decreased their price objective on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Citigroup reduced their target price on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Jefferies Financial Group lowered their price target on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, Needham & Company LLC reduced their price objective on shares of Microchip Technology from $85.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $77.11.

Insiders Place Their Bets

In related news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total transaction of $226,717.12. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $58.86 on Friday. The company has a market capitalization of $31.66 billion, a price-to-earnings ratio of 105.11 and a beta of 1.50. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. Microchip Technology Incorporated has a 52 week low of $50.21 and a 52 week high of $100.57. The company has a 50-day simple moving average of $56.94 and a 200 day simple moving average of $67.52.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. On average, sell-side analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Monday, February 24th. Microchip Technology’s dividend payout ratio is 325.00%.

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.