Telos Capital Management Inc. Sells 300 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Telos Capital Management Inc. trimmed its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,435 shares of the semiconductor company’s stock after selling 300 shares during the period. Telos Capital Management Inc.’s holdings in Microchip Technology were worth $1,302,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Horizon Bancorp Inc. IN bought a new stake in Microchip Technology during the fourth quarter valued at about $110,000. Rockline Wealth Management LLC bought a new stake in shares of Microchip Technology in the fourth quarter valued at about $4,449,000. 17 Capital Partners LLC bought a new stake in shares of Microchip Technology in the fourth quarter valued at about $1,827,000. GAM Holding AG lifted its stake in shares of Microchip Technology by 13.9% in the fourth quarter. GAM Holding AG now owns 145,575 shares of the semiconductor company’s stock valued at $13,128,000 after buying an additional 17,776 shares during the period. Finally, iA Global Asset Management Inc. lifted its stake in shares of Microchip Technology by 26.5% in the third quarter. iA Global Asset Management Inc. now owns 81,124 shares of the semiconductor company’s stock valued at $6,332,000 after buying an additional 16,984 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Stock Performance

NASDAQ MCHP opened at $85.07 on Thursday. The firm has a market cap of $45.97 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 2.62 and a beta of 1.65. The company has a 50 day moving average of $86.58 and a 200-day moving average of $84.24. The company has a current ratio of 0.98, a quick ratio of 0.58 and a debt-to-equity ratio of 0.57. Microchip Technology Incorporated has a 1-year low of $68.75 and a 1-year high of $94.30.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.04 by $0.04. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the firm earned $1.48 earnings per share. Microchip Technology’s revenue was down 18.6% compared to the same quarter last year. On average, equities analysts forecast that Microchip Technology Incorporated will post 4.64 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were paid a $0.45 dividend. The ex-dividend date was Thursday, February 22nd. This is a boost from Microchip Technology’s previous quarterly dividend of $0.44. This represents a $1.80 dividend on an annualized basis and a yield of 2.12%. Microchip Technology’s dividend payout ratio (DPR) is presently 42.06%.

Insider Buying and Selling at Microchip Technology

In other news, CFO James Eric Bjornholt sold 1,970 shares of Microchip Technology stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $83.90, for a total transaction of $165,283.00. Following the transaction, the chief financial officer now directly owns 32,893 shares of the company’s stock, valued at $2,759,722.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Karlton D. Johnson sold 370 shares of Microchip Technology stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total transaction of $31,080.00. Following the transaction, the director now directly owns 1,789 shares of the company’s stock, valued at $150,276. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO James Eric Bjornholt sold 1,970 shares of Microchip Technology stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total transaction of $165,283.00. Following the transaction, the chief financial officer now directly owns 32,893 shares in the company, valued at $2,759,722.70. The disclosure for this sale can be found here. Insiders own 2.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on MCHP. TD Cowen increased their target price on shares of Microchip Technology from $75.00 to $80.00 and gave the company a “market perform” rating in a research note on Friday, February 2nd. Susquehanna reiterated a “positive” rating and issued a $100.00 target price on shares of Microchip Technology in a research note on Monday, April 8th. The Goldman Sachs Group reduced their target price on shares of Microchip Technology from $87.00 to $77.00 and set a “neutral” rating for the company in a research note on Friday, February 2nd. Truist Financial dropped their price target on shares of Microchip Technology from $97.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, January 9th. Finally, StockNews.com lowered shares of Microchip Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 29th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus price target of $92.25.

Microchip Technology Profile

Microchip Technology Incorporated develops, manufactures, and sells 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 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.