WoodTrust Financial Corp Cuts Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

WoodTrust Financial Corp lowered its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 27.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,268 shares of the semiconductor company’s stock after selling 18,361 shares during the period. WoodTrust Financial Corp’s holdings in Microchip Technology were worth $2,768,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Mainstream Capital Management LLC acquired a new stake in shares of Microchip Technology in the 4th quarter valued at approximately $26,000. Prospera Private Wealth LLC acquired a new stake in Microchip Technology in the third quarter valued at $29,000. Financial Life Planners acquired a new stake in Microchip Technology in the fourth quarter valued at $32,000. Peterson Financial Group Inc. purchased a new stake in shares of Microchip Technology during the 3rd quarter worth $34,000. Finally, Truvestments Capital LLC acquired a new position in shares of Microchip Technology during the 3rd quarter worth $34,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MCHP. Evercore ISI raised their price objective on shares of Microchip Technology from $65.00 to $71.00 and gave the company an “outperform” rating in a research note on Tuesday. Rosenblatt Securities reiterated a “buy” rating and set a $70.00 price target on shares of Microchip Technology in a research report on Tuesday. Citigroup lowered their price target on Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Piper Sandler reaffirmed an “overweight” rating and set a $65.00 price objective (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Finally, Raymond James reissued a “strong-buy” rating and issued a $60.00 target price (down previously from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Microchip Technology currently has an average rating of “Moderate Buy” and a consensus price target of $74.37.

Insider Transactions at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the sale, the chief financial officer now directly owns 33,272 shares of the company’s stock, valued at approximately $2,025,599.36. This represents a 10.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.10% of the company’s stock.

Microchip Technology Stock Up 0.3 %

Shares of NASDAQ MCHP opened at $58.14 on Wednesday. The firm has a market cap of $31.27 billion, a P/E ratio of 103.82 and a beta of 1.50. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. Microchip Technology Incorporated has a 1 year low of $50.21 and a 1 year high of $100.57. The firm’s 50 day moving average price is $56.93 and its 200 day moving average price is $67.04.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. As a group, sell-side analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is presently 325.00%.

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.