8,912 Microchip Technology Incorporated $MCHP Shares Sold by Ethic Inc.

Ethic Inc. lowered its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 14.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 54,026 shares of the semiconductor company’s stock after selling 8,912 shares during the period. Ethic Inc.’s holdings in Microchip Technology were worth $4,202,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in MCHP. Apella Capital LLC raised its position in Microchip Technology by 4.8% in the second quarter. Apella Capital LLC now owns 2,669 shares of the semiconductor company’s stock worth $225,000 after acquiring an additional 122 shares during the period. Bridgewater Advisors Inc. boosted its stake in Microchip Technology by 4.2% in the second quarter. Bridgewater Advisors Inc. now owns 3,331 shares of the semiconductor company’s stock valued at $304,000 after acquiring an additional 133 shares during the last quarter. Total Wealth Planning & Management Inc. grew its position in shares of Microchip Technology by 3.5% during the 2nd quarter. Total Wealth Planning & Management Inc. now owns 4,225 shares of the semiconductor company’s stock valued at $385,000 after acquiring an additional 141 shares during the period. Texas Capital Bank Wealth Management Services Inc grew its position in shares of Microchip Technology by 2.0% during the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 7,513 shares of the semiconductor company’s stock valued at $685,000 after acquiring an additional 144 shares during the period. Finally, Greenleaf Trust grew its position in shares of Microchip Technology by 0.6% during the 2nd quarter. Greenleaf Trust now owns 24,163 shares of the semiconductor company’s stock valued at $2,204,000 after acquiring an additional 151 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology News Summary

Here are the key news stories impacting Microchip Technology this week:

• Positive Sentiment: Microchip introduced the ATFCD52, a high-speed capacitance digitizer designed to give robots real-time tactile data for more precise handling. The product also targets applications such as wearables and augmented-reality devices, though revenue potential was not disclosed. Article: Microchip Enhances Robotic Tactile Sensing with High-Speed Capacitance Digitizer
• Neutral Sentiment: A reported short-interest figure showed zero shares sold short as of Nov. 10. The report’s description of a “large increase” conflicts with that figure, so it provides little reliable signal about investor positioning.
• Negative Sentiment: Several firms recently lowered their price targets: Morgan Stanley cut its target to $72 and retained an Equal Weight rating; Barclays reduced its target to $90 and also stayed Equal Weight; JPMorgan lowered its target to $100 but maintained Overweight. The cuts may reflect more cautious expectations, even though the stated targets remain above the stock’s recent level.
• Negative Sentiment: ETFs were reported as net sellers of MCHP shares on Nov. 6, which may add near-term selling pressure. Article: ETFs Are Net Sellers of Microchip Technology on Nov. 6
• Negative Sentiment: Recent insider-trading data cited in the provided report showed 11 sales and no purchases over the past six months, a potential cautionary signal, though not necessarily a direct indication of near-term company performance.

Microchip Technology Trading Down 1.9%

Shares of Microchip Technology stock opened at $60.33 on Wednesday. The stock has a market capitalization of $32.83 billion, a P/E ratio of 27.58, a P/E/G ratio of 0.44 and a beta of 1.84. Microchip Technology Incorporated has a 52-week low of $48.52 and a 52-week high of $105.91. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.33 and a current ratio of 2.24. The stock’s 50-day simple moving average is $74.36 and its 200 day simple moving average is $79.26.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, November 5th. The semiconductor company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. The firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.61 billion. Microchip Technology had a net margin of 14.96% and a return on equity of 20.32%. The company’s quarterly revenue was up 42.2% on a year-over-year basis. During the same quarter last year, the business earned $0.35 earnings per share. As a group, research analysts anticipate that Microchip Technology Incorporated will post 3.19 EPS for the current year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Monday, November 23rd will be given a $0.4550 dividend. The ex-dividend date of this dividend is Monday, November 23rd. This represents a $1.82 annualized dividend and a dividend yield of 3.0%. Microchip Technology’s payout ratio is 137.88%.

Insider Activity at Microchip Technology

In related news, CFO James Bjornholt sold 4,112 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $75.32, for a total transaction of $309,715.84. Following the sale, the chief financial officer directly owned 28,573 shares in the company, valued at approximately $2,152,118.36. This represents a 12.58% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.79% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on MCHP. Jefferies Financial Group decreased their price target on shares of Microchip Technology from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, November 6th. BMO Capital Markets started coverage on Microchip Technology in a research note on Friday, August 21st. They issued an “outperform” rating and a $95.00 price objective on the stock. TD Cowen reduced their price objective on Microchip Technology from $90.00 to $75.00 and set a “hold” rating for the company in a report on Monday, October 19th. Wall Street Zen lowered Microchip Technology from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Truist Financial decreased their target price on Microchip Technology from $90.00 to $62.00 and set a “hold” rating for the company in a research report on Friday, November 6th. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $90.18.

About Microchip Technology

Microchip Technology is a semiconductor company that develops and supplies components and systems for embedded control and connected applications. Its products include microcontrollers, microprocessors, analog and power-management devices, field-programmable gate arrays, timing products, and connectivity and security solutions. The company’s products are used in a range of markets, including automotive, industrial, communications, data center, consumer, and aerospace and defense. Microchip also provides development tools, software, and technical support to help customers design and build electronic systems.