Bridgewater Advisors Inc. Sells 133 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Bridgewater Advisors Inc. cut its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,211 shares of the semiconductor company’s stock after selling 133 shares during the quarter. Bridgewater Advisors Inc.’s holdings in Microchip Technology were worth $1,642,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Mizuho Markets Americas LLC acquired a new stake in shares of Microchip Technology in the 3rd quarter worth about $225,800,000. Truist Financial Corp lifted its holdings in shares of Microchip Technology by 324.0% in the fourth quarter. Truist Financial Corp now owns 1,815,013 shares of the semiconductor company’s stock valued at $163,678,000 after purchasing an additional 1,386,924 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of Microchip Technology by 122.1% in the third 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 in the last quarter. Van ECK Associates Corp boosted its position in shares of Microchip Technology by 16.0% during the fourth quarter. Van ECK Associates Corp now owns 5,177,014 shares of the semiconductor company’s stock valued at $466,863,000 after buying an additional 714,376 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in 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 buying an additional 673,924 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Stock Performance

Shares of MCHP stock traded down $1.20 during trading on Tuesday, reaching $91.98. 6,026,112 shares of the company’s stock traded hands, compared to its average volume of 5,571,717. Microchip Technology Incorporated has a 1 year low of $68.75 and a 1 year high of $94.63. The company has a market capitalization of $49.71 billion, a P/E ratio of 21.77, a PEG ratio of 2.86 and a beta of 1.65. The company has a current ratio of 0.98, a quick ratio of 0.58 and a debt-to-equity ratio of 0.57. The firm’s 50-day moving average is $87.47 and its 200 day moving average is $84.79.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the business posted $1.48 earnings per share. The company’s revenue was down 18.6% on a year-over-year basis. Equities research analysts expect that Microchip Technology Incorporated will post 4.64 EPS for the current year.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were paid a dividend of $0.45 per share. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.80 annualized dividend and a yield of 1.96%. Microchip Technology’s dividend payout ratio (DPR) is currently 42.06%.

Insider Buying and Selling

In other Microchip Technology news, Director Karlton D. Johnson sold 370 shares of the firm’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 sale, the director now owns 1,789 shares of the company’s stock, valued at approximately $150,276. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Microchip Technology news, Director Karlton D. Johnson sold 370 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 1,789 shares of the company’s stock, valued at approximately $150,276. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO James Eric Bjornholt sold 1,970 shares of the stock in a transaction on 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 in the company, valued at approximately $2,759,722.70. The disclosure for this sale can be found here. 2.07% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MCHP. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price objective on shares of Microchip Technology in a report on Tuesday, January 30th. Susquehanna reaffirmed a “positive” rating and issued a $100.00 price objective on shares of Microchip Technology in a research report on Monday, April 8th. The Goldman Sachs Group dropped their target price on shares of Microchip Technology from $87.00 to $77.00 and set a “neutral” rating on the stock in a research report on Friday, February 2nd. UBS Group reduced their target price on Microchip Technology from $105.00 to $95.00 and set a “buy” rating for the company in a report on Friday, February 2nd. Finally, Evercore ISI started coverage on Microchip Technology in a research report on Tuesday, April 16th. They set an “outperform” rating and a $106.00 price target for the company. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and an average target price of $92.50.

Microchip Technology 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.