Dynasty Wealth Management LLC Has $802,000 Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Dynasty Wealth Management LLC decreased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 21.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 13,980 shares of the semiconductor company’s stock after selling 3,883 shares during the period. Dynasty Wealth Management LLC’s holdings in Microchip Technology were worth $802,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Motco boosted its holdings in shares of Microchip Technology by 62.4% in the 4th quarter. Motco now owns 178,208 shares of the semiconductor company’s stock valued at $10,220,000 after purchasing an additional 68,485 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych boosted its stake in Microchip Technology by 96.4% in the fourth quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 48,900 shares of the semiconductor company’s stock valued at $2,804,000 after buying an additional 24,000 shares in the last quarter. Versor Investments LP acquired a new stake in Microchip Technology in the fourth quarter valued at about $368,000. Proficio Capital Partners LLC bought a new position in Microchip Technology in the fourth quarter valued at about $3,818,000. Finally, Mn Services Vermogensbeheer B.V. raised its stake in Microchip Technology by 1.7% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 210,900 shares of the semiconductor company’s stock worth $12,095,000 after acquiring an additional 3,500 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO James Eric Bjornholt sold 3,724 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total transaction of $226,717.12. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. TD Cowen decreased their price target on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $90.00 target price on shares of Microchip Technology in a research note on Thursday, February 6th. Mizuho dropped their price target on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. The Goldman Sachs Group reduced their price objective on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Finally, StockNews.com downgraded Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.11.

Microchip Technology Stock Performance

Shares of Microchip Technology stock opened at $58.86 on Friday. The company has a market cap of $31.66 billion, a P/E ratio of 105.11 and a beta of 1.50. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. The business has a 50-day moving average price of $56.94 and a two-hundred day moving average price of $67.52. Microchip Technology Incorporated has a 1-year low of $50.21 and a 1-year high of $100.57.

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 analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. As a group, analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Monday, February 24th. Microchip Technology’s dividend payout ratio 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.