Compass Wealth Management LLC Sells 875 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Compass Wealth Management LLC lessened its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 31.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,921 shares of the semiconductor company’s stock after selling 875 shares during the period. Compass Wealth Management LLC’s holdings in Microchip Technology were worth $154,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rise Advisors LLC bought a new position in Microchip Technology in the first quarter valued at about $28,000. Steph & Co. grew its holdings in shares of Microchip Technology by 57.4% during the first quarter. Steph & Co. now owns 414 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 151 shares during the last quarter. Pathway Financial Advisers LLC acquired a new position in shares of Microchip Technology in the first quarter valued at approximately $39,000. Richardson Capital Management LLC acquired a new position in shares of Microchip Technology in the first quarter valued at approximately $45,000. Finally, SOA Wealth Advisors LLC. increased its stake in shares of Microchip Technology by 90.0% in the first quarter. SOA Wealth Advisors LLC. now owns 530 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 251 shares during the period. Institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MCHP. Truist Financial downgraded Microchip Technology from a “buy” rating to a “hold” rating and lowered their price objective for the company from $89.00 to $80.00 in a research note on Monday, September 23rd. Bank of America downgraded Microchip Technology from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $110.00 to $90.00 in a research note on Friday, August 2nd. JPMorgan Chase & Co. lowered their price objective on Microchip Technology from $110.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Susquehanna lowered their price objective on Microchip Technology from $115.00 to $105.00 and set a “positive” rating for the company in a research note on Friday, August 2nd. Finally, Citigroup lowered their price objective on Microchip Technology from $104.00 to $92.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $99.47.

Microchip Technology Trading Up 0.9 %

NASDAQ:MCHP opened at $76.58 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.94 and a quick ratio of 1.08. Microchip Technology Incorporated has a one year low of $68.75 and a one year high of $100.57. The company has a market cap of $41.09 billion, a PE ratio of 22.07 and a beta of 1.52. The firm has a 50-day moving average of $78.26 and a 200-day moving average of $86.25.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.01. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Microchip Technology had a return on equity of 28.33% and a net margin of 20.80%. The business’s revenue was down 45.8% on a year-over-year basis. During the same period last year, the business earned $1.56 EPS. As a group, equities research analysts expect that Microchip Technology Incorporated will post 1.73 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.454 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Thursday, August 22nd. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio is currently 52.16%.

Insider Activity

In other news, CFO James Eric Bjornholt sold 2,154 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $81.50, for a total transaction of $175,551.00. Following the transaction, the chief financial officer now owns 33,257 shares of the company’s stock, valued at $2,710,445.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.07% of the company’s stock.

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.