Watershed Asset Management L.L.C. Sells 342 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Watershed Asset Management L.L.C. decreased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 9.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,185 shares of the semiconductor company’s stock after selling 342 shares during the quarter. Watershed Asset Management L.L.C.’s holdings in Microchip Technology were worth $287,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of MCHP. Mizuho Markets Americas LLC bought a new position in Microchip Technology in the 3rd quarter valued at $225,800,000. Qube Research & Technologies Ltd raised its position in Microchip Technology by 122.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,529,186 shares of the semiconductor company’s stock valued at $119,353,000 after purchasing an additional 840,526 shares during the last quarter. Public Sector Pension Investment Board raised its position in shares of Microchip Technology by 173.4% during the third quarter. Public Sector Pension Investment Board now owns 1,062,611 shares of the semiconductor company’s stock worth $82,937,000 after acquiring an additional 673,924 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Microchip Technology by 1,082.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 715,875 shares of the semiconductor company’s stock worth $64,558,000 after acquiring an additional 655,332 shares during the last quarter. Finally, Deutsche Bank AG raised its position in shares of Microchip Technology by 27.8% during the third quarter. Deutsche Bank AG now owns 1,927,892 shares of the semiconductor company’s stock worth $150,472,000 after acquiring an additional 418,869 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Transactions at Microchip Technology

In other news, Director Karlton D. Johnson sold 370 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total transaction of $31,080.00. Following the completion of the transaction, the director now directly owns 1,789 shares of the company’s stock, valued at $150,276. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO James Eric Bjornholt sold 1,970 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $83.90, for a total transaction of $165,283.00. Following the completion of the transaction, the chief financial officer now directly owns 32,893 shares of the company’s stock, valued at $2,759,722.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karlton D. Johnson sold 370 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total value of $31,080.00. Following the transaction, the director now directly owns 1,789 shares of the company’s stock, valued at $150,276. The disclosure for this sale can be found here. 2.07% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MCHP. Piper Sandler downgraded Microchip Technology from an “overweight” rating to a “neutral” rating and set a $80.00 target price for the company. in a research report on Thursday, January 4th. Wolfe Research upgraded Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 target price for the company in a research report on Thursday, January 18th. The Goldman Sachs Group dropped their target price on Microchip Technology from $87.00 to $77.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. StockNews.com downgraded Microchip Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 29th. Finally, Rosenblatt Securities restated a “buy” rating and set a $100.00 target price on shares of Microchip Technology in a research report on Tuesday, January 30th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Microchip Technology currently has an average rating of “Moderate Buy” and a consensus target price of $92.50.

Microchip Technology Trading Up 3.2 %

NASDAQ:MCHP traded up $2.66 on Tuesday, reaching $86.19. The company’s stock had a trading volume of 5,305,259 shares, compared to its average volume of 5,529,634. Microchip Technology Incorporated has a 1-year low of $68.75 and a 1-year high of $94.30. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 0.98. The firm has a market cap of $46.58 billion, a PE ratio of 20.14, a PEG ratio of 2.49 and a beta of 1.65. The business’s 50-day moving average price is $86.61 and its two-hundred day moving average price is $84.46.

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

Microchip Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were given a dividend of $0.45 per share. This is a boost from Microchip Technology’s previous quarterly dividend of $0.44. This represents a $1.80 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Thursday, February 22nd. Microchip Technology’s dividend payout ratio is currently 42.06%.

Microchip Technology Company Profile

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.