Resonant Capital Advisors LLC Has $720,000 Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Resonant Capital Advisors LLC decreased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 3.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,988 shares of the semiconductor company’s stock after selling 328 shares during the period. Resonant Capital Advisors LLC’s holdings in Microchip Technology were worth $720,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Horizon Bancorp Inc. IN acquired a new position in shares of Microchip Technology in the 4th quarter valued at about $110,000. Rockline Wealth Management LLC acquired a new position in shares of Microchip Technology in the 4th quarter valued at about $4,449,000. 17 Capital Partners LLC acquired a new position in shares of Microchip Technology in the 4th quarter valued at about $1,827,000. AIA Group Ltd increased its holdings in shares of Microchip Technology by 80.4% in the 4th quarter. AIA Group Ltd now owns 29,910 shares of the semiconductor company’s stock valued at $2,697,000 after purchasing an additional 13,326 shares during the period. Finally, GAM Holding AG increased its holdings in shares of Microchip Technology by 13.9% in the 4th quarter. GAM Holding AG now owns 145,575 shares of the semiconductor company’s stock valued at $13,128,000 after purchasing an additional 17,776 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Stock Down 3.0 %

MCHP opened at $81.68 on Friday. Microchip Technology Incorporated has a 1-year low of $68.75 and a 1-year high of $94.30. The company has a current ratio of 0.98, a quick ratio of 0.58 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $44.14 billion, a price-to-earnings ratio of 19.08, a P/E/G ratio of 2.57 and a beta of 1.65. The business has a 50 day moving average of $86.50 and a 200-day moving average of $84.27.

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

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.20%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 22nd. Microchip Technology’s dividend payout ratio is currently 42.06%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MCHP shares. StockNews.com downgraded Microchip Technology from a “buy” rating to a “hold” rating in a report on Friday, December 29th. Stifel Nicolaus increased their price objective on Microchip Technology from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday. Rosenblatt Securities restated a “buy” rating and issued a $100.00 price objective on shares of Microchip Technology in a report on Tuesday, January 30th. Needham & Company LLC increased their price objective on Microchip Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, Piper Sandler downgraded Microchip Technology from an “overweight” rating to a “neutral” rating and set a $80.00 price objective on the stock. in a report on Thursday, January 4th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $92.50.

Insider Activity

In other news, CFO James Eric Bjornholt sold 1,970 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total value of $165,283.00. Following the completion of the sale, the chief financial officer now directly owns 32,893 shares of the company’s stock, valued at $2,759,722.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Karlton D. Johnson sold 370 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total value of $31,080.00. Following the completion of the transaction, the director now directly owns 1,789 shares in the company, valued at $150,276. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James Eric Bjornholt sold 1,970 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $83.90, for a total value of $165,283.00. Following the completion of the transaction, the chief financial officer now owns 32,893 shares of the company’s stock, valued at $2,759,722.70. The disclosure for this sale can be found here. 2.07% of the stock is owned by company insiders.

Microchip Technology Company 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.