Argonautica Private Wealth Management Inc. Has $265,000 Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Argonautica Private Wealth Management Inc. reduced its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 8.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,937 shares of the semiconductor company’s stock after selling 277 shares during the period. Argonautica Private Wealth Management Inc.’s holdings in Microchip Technology were worth $265,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Bryn Mawr Capital Management LLC increased its holdings in shares of Microchip Technology by 11.4% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 23,392 shares of the semiconductor company’s stock worth $2,109,000 after buying an additional 2,398 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its holdings in Microchip Technology by 6.5% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 728,331 shares of the semiconductor company’s stock valued at $65,681,000 after purchasing an additional 44,358 shares during the period. Syon Capital LLC increased its holdings in Microchip Technology by 45.6% in the fourth quarter. Syon Capital LLC now owns 5,757 shares of the semiconductor company’s stock valued at $519,000 after purchasing an additional 1,803 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its holdings in Microchip Technology by 3.2% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 12,194 shares of the semiconductor company’s stock valued at $1,100,000 after purchasing an additional 380 shares during the period. Finally, Bfsg LLC acquired a new stake in Microchip Technology in the fourth quarter valued at $45,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Microchip Technology news, Director Karlton D. Johnson sold 370 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were 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 of the company’s stock, valued at approximately $150,276. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Microchip Technology news, Director Karlton D. Johnson sold 370 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were 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 of the company’s stock, valued at approximately $150,276. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO James Eric Bjornholt sold 1,970 shares of the firm’s 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 completion of the transaction, the chief financial officer now directly 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 insiders.

Microchip Technology Stock Performance

Shares of MCHP stock traded up $1.39 during trading hours on Friday, hitting $93.60. 5,621,114 shares of the company were exchanged, compared to its average volume of 4,575,927. The firm has a fifty day simple moving average of $87.24 and a 200 day simple moving average of $84.65. 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 52-week low of $68.75 and a 52-week high of $94.63. The stock has a market capitalization of $50.58 billion, a price-to-earnings ratio of 21.87, a P/E/G ratio of 2.81 and a beta of 1.65.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the business posted $1.48 EPS. Microchip Technology’s quarterly revenue was down 18.6% compared to the same quarter last year. Research analysts predict 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. Investors of record on Friday, February 23rd were issued a $0.45 dividend. The ex-dividend date was Thursday, February 22nd. 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 1.92%. Microchip Technology’s dividend payout ratio (DPR) is 42.06%.

Analyst Ratings Changes

A number of research firms recently weighed in on MCHP. StockNews.com downgraded Microchip Technology from a “buy” rating to a “hold” rating in a report on Friday, December 29th. Truist Financial cut their price target 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. Needham & Company LLC upped their price target on shares of Microchip Technology from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Wolfe Research raised shares of Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 price target on the stock in a research report on Thursday, January 18th. Finally, UBS Group cut their price target 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. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Microchip Technology has an average rating of “Moderate Buy” and an average price target of $92.50.

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.