Taylor Financial Group Inc. Sells 1,795 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Taylor Financial Group Inc. lowered its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,988 shares of the semiconductor company’s stock after selling 1,795 shares during the period. Microchip Technology accounts for approximately 1.0% of Taylor Financial Group Inc.’s holdings, making the stock its 27th biggest holding. Taylor Financial Group Inc.’s holdings in Microchip Technology were worth $1,376,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new stake in Microchip Technology in the third quarter valued at $29,000. Truvestments Capital LLC purchased a new position in Microchip Technology during the third quarter valued at $34,000. Mainstream Capital Management LLC purchased a new position in Microchip Technology during the fourth quarter valued at $26,000. Rakuten Securities Inc. raised its position in Microchip Technology by 309.5% in the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock worth $27,000 after buying an additional 359 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new position in Microchip Technology in the 4th quarter worth about $29,000. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Price Performance

NASDAQ:MCHP opened at $55.26 on Tuesday. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $29.72 billion, a P/E ratio of 98.68 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 business’s 50-day moving average is $56.45 and its 200 day moving average is $65.40.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results 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 return on equity of 12.62% and a net margin of 6.49%. On average, equities research analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were paid a dividend of $0.455 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.29%. Microchip Technology’s payout ratio is currently 325.00%.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the business’s 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 directly owns 33,272 shares of the company’s stock, valued at $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MCHP shares. Evercore ISI boosted their target price on Microchip Technology from $65.00 to $71.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Piper Sandler reissued an “overweight” rating and issued a $65.00 target price (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Rosenblatt Securities reissued a “buy” rating and issued a $70.00 target price on shares of Microchip Technology in a research report on Tuesday, March 4th. StockNews.com lowered Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Finally, The Goldman Sachs Group cut their price target on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.37.

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.