Marathon Trading Investment Management LLC Makes New Investment in Microchip Technology Incorporated (NASDAQ:MCHP)

Marathon Trading Investment Management LLC acquired a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 20,586 shares of the semiconductor company’s stock, valued at approximately $1,181,000.

A number of other institutional investors have also recently made changes to their positions in MCHP. Prospera Private Wealth LLC purchased a new position in Microchip Technology during the 3rd quarter valued at approximately $29,000. Peterson Financial Group Inc. bought a new position in shares of Microchip Technology during the 3rd quarter valued at approximately $34,000. Truvestments Capital LLC purchased a new position in shares of Microchip Technology in the third quarter valued at $34,000. Mainstream Capital Management LLC bought a new stake in Microchip Technology in the fourth quarter worth $26,000. Finally, OFI Invest Asset Management purchased a new stake in Microchip Technology during the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Activity

In other news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the transaction, the chief financial officer now directly owns 33,272 shares in the company, valued at approximately $2,025,599.36. This trade represents a 10.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

MCHP has been the subject of a number of recent research reports. KeyCorp dropped their price objective on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. Evercore ISI lifted their price target on Microchip Technology from $65.00 to $71.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Raymond James restated a “strong-buy” rating and set a $60.00 price objective (down from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. Bank of America cut Microchip Technology from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $80.00 to $65.00 in a report on Monday, December 16th. Finally, Piper Sandler restated an “overweight” rating and set a $65.00 price target (down previously from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.37.

Microchip Technology Stock Down 10.6 %

Shares of NASDAQ MCHP opened at $53.45 on Tuesday. Microchip Technology Incorporated has a 52-week low of $50.21 and a 52-week high of $100.57. The firm has a market capitalization of $28.75 billion, a price-to-earnings ratio of 95.45 and a beta of 1.52. The stock has a 50 day moving average price of $56.90 and a 200 day moving average price of $66.38. 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 (NASDAQ:MCHP) last issued its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. Sell-side analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is 325.00%.

Microchip Technology 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.