Telos Capital Management Inc. Sells 300 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Telos Capital Management Inc. decreased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHPFree Report) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,435 shares of the semiconductor company’s stock after selling 300 shares during the quarter. Telos Capital Management Inc.’s holdings in Microchip Technology were worth $1,302,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in shares of Microchip Technology in the 3rd quarter valued at $26,000. BKM Wealth Management LLC bought a new stake in shares of Microchip Technology in the 4th quarter valued at $27,000. Rakuten Securities Inc. bought a new stake in shares of Microchip Technology in the 4th quarter valued at $27,000. Fortitude Family Office LLC bought a new stake in shares of Microchip Technology in the 4th quarter valued at $29,000. Finally, Almanack Investment Partners LLC. bought a new stake in shares of Microchip Technology in the 3rd quarter valued at $29,000. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Price Performance

MCHP opened at $85.07 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.58. The company has a market capitalization of $45.97 billion, a price-to-earnings ratio of 19.88, a P/E/G ratio of 2.62 and a beta of 1.65. The firm’s fifty day moving average price is $86.58 and its two-hundred day moving average price is $84.24. Microchip Technology Incorporated has a 1 year low of $68.75 and a 1 year high of $94.30.

Microchip Technology (NASDAQ:MCHPGet Free Report) last released its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The business’s revenue for the quarter was down 18.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.48 EPS. As a group, analysts anticipate that Microchip Technology Incorporated will post 4.64 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.12%. 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 payout ratio is presently 42.06%.

Analysts Set New Price Targets

Several research firms have recently weighed in on MCHP. UBS Group lowered their price objective on shares of Microchip Technology from $105.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, February 2nd. Evercore ISI started coverage on shares of Microchip Technology in a research report on Tuesday. They issued an “outperform” rating and a $106.00 price target for the company. TD Cowen lifted their price target on shares of Microchip Technology from $75.00 to $80.00 and gave the company a “market perform” rating in a research report on Friday, February 2nd. Needham & Company LLC lifted 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. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price target on shares of Microchip Technology in a research report on Tuesday, January 30th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $92.25.

Check Out Our Latest Stock Analysis on Microchip Technology

Insider Transactions at Microchip Technology

In related news, CFO James Eric Bjornholt sold 1,970 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $83.90, for a total value of $165,283.00. Following the sale, the chief financial officer now directly owns 32,893 shares in the company, valued at approximately $2,759,722.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO James Eric Bjornholt sold 1,970 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $83.90, for a total value of $165,283.00. Following the sale, the chief financial officer now directly owns 32,893 shares in the company, valued at approximately $2,759,722.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Karlton D. Johnson sold 370 shares of the business’s stock in a transaction dated 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 sale, the director now owns 1,789 shares in the company, valued at $150,276. The disclosure for this sale can be found here. Company insiders own 2.07% of the company’s stock.

Microchip Technology Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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