Microchip Technology Incorporated (NASDAQ:MCHP) Stock Position Reduced by Bouchey Financial Group Ltd

Bouchey Financial Group Ltd cut its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 6.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,604 shares of the semiconductor company’s stock after selling 241 shares during the period. Bouchey Financial Group Ltd’s holdings in Microchip Technology were worth $207,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MCHP. Prospera Private Wealth LLC purchased a new position in Microchip Technology during the third quarter valued at approximately $29,000. Financial Life Planners purchased a new position in Microchip Technology during the fourth quarter valued at approximately $32,000. Peterson Financial Group Inc. bought a new stake in Microchip Technology in the third quarter worth approximately $34,000. Truvestments Capital LLC acquired a new position in shares of Microchip Technology during the 3rd quarter worth $34,000. Finally, Hobbs Group Advisors LLC increased its stake in shares of Microchip Technology by 390.6% during the 3rd quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 500 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of the firm’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 33,272 shares of the company’s stock, valued at $2,025,599.36. This trade represents a 10.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. B. Riley restated a “buy” rating and set a $75.00 price target (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Jefferies Financial Group dropped their price target on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. StockNews.com lowered shares of Microchip Technology from a “hold” rating to a “sell” rating in a research note on Monday, February 10th. 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 research note on Friday, February 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $90.00 price objective on shares of Microchip Technology in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Microchip Technology has a consensus rating of “Moderate Buy” and an average target price of $77.11.

Microchip Technology Stock Performance

Microchip Technology stock opened at $57.12 on Friday. The business has a 50 day moving average of $56.87 and a 200-day moving average of $67.64. Microchip Technology Incorporated has a 1 year low of $50.21 and a 1 year high of $100.57. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The company has a market capitalization of $30.72 billion, a P/E ratio of 102.00 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHP) last released 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 net margin of 6.49% and a return on equity of 12.62%. On average, equities research analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Monday, February 24th. Microchip Technology’s payout ratio is currently 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.