Sage Mountain Advisors LLC Sells 4,987 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Sage Mountain Advisors LLC cut its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 63.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,859 shares of the semiconductor company’s stock after selling 4,987 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Microchip Technology were worth $258,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Jennison Associates LLC bought a new position in shares of Microchip Technology during the fourth quarter worth approximately $14,944,000. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Microchip Technology during the 4th quarter worth approximately $242,000. Cetera Trust Company N.A acquired a new stake in shares of Microchip Technology during the 4th quarter worth approximately $2,661,000. Handelsbanken Fonder AB boosted its position in shares of Microchip Technology by 9.3% during the 4th quarter. Handelsbanken Fonder AB now owns 226,605 shares of the semiconductor company’s stock worth $20,435,000 after acquiring an additional 19,228 shares in the last quarter. Finally, First Command Advisory Services Inc. acquired a new stake in shares of Microchip Technology during the 4th quarter worth approximately $48,000. 91.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Truist Financial cut their target price on shares of Microchip Technology from $97.00 to $93.00 and set a “buy” rating on the stock in a research report on Tuesday, January 9th. UBS Group cut their target price on shares of Microchip Technology from $105.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. StockNews.com lowered shares of Microchip Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 29th. Susquehanna restated a “positive” rating and issued a $100.00 target price on shares of Microchip Technology in a research report on Monday, April 8th. Finally, Stifel Nicolaus raised their target price on shares of Microchip Technology from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Microchip Technology has a consensus rating of “Moderate Buy” and a consensus target price of $92.50.

Insider Buying and Selling at Microchip Technology

In other news, Director Karlton D. Johnson sold 370 shares of Microchip Technology stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total transaction 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 can be accessed through this link. In other news, Director Karlton D. Johnson sold 370 shares of Microchip Technology stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total transaction 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 can be accessed through this link. Also, CFO James Eric Bjornholt sold 1,970 shares of Microchip Technology stock in a transaction dated 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 owns 32,893 shares of the company’s stock, valued at $2,759,722.70. The disclosure for this sale can be found here. Insiders own 2.07% of the company’s stock.

Microchip Technology Price Performance

Shares of NASDAQ:MCHP opened at $84.13 on Tuesday. Microchip Technology Incorporated has a 52 week low of $68.75 and a 52 week high of $94.30. The firm’s fifty day moving average is $86.50 and its 200-day moving average is $84.41. The firm has a market cap of $45.46 billion, a PE ratio of 19.52, a price-to-earnings-growth ratio of 2.49 and a beta of 1.65. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 0.98.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the firm earned $1.48 earnings per share. Microchip Technology’s quarterly revenue was down 18.6% on a year-over-year basis. Sell-side analysts predict that Microchip Technology Incorporated will post 4.64 earnings per share for the current year.

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were paid a $0.45 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.44. This represents a $1.80 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend was Thursday, February 22nd. Microchip Technology’s payout ratio is 42.06%.

About Microchip Technology

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.