One Wealth Management Investment & Advisory Services LLC Sells 297 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

One Wealth Management Investment & Advisory Services LLC lowered its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 10.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,566 shares of the semiconductor company’s stock after selling 297 shares during the quarter. One Wealth Management Investment & Advisory Services LLC’s holdings in Microchip Technology were worth $235,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Gilbert & Cook Inc. boosted its position in shares of Microchip Technology by 8.5% in the fourth quarter. Gilbert & Cook Inc. now owns 5,354 shares of the semiconductor company’s stock valued at $483,000 after acquiring an additional 421 shares during the period. Fisher Asset Management LLC boosted its position in shares of Microchip Technology by 3,580.8% in the fourth quarter. Fisher Asset Management LLC now owns 2,687 shares of the semiconductor company’s stock valued at $242,000 after acquiring an additional 2,614 shares during the period. Spire Wealth Management boosted its position in shares of Microchip Technology by 10.8% in the fourth quarter. Spire Wealth Management now owns 2,879 shares of the semiconductor company’s stock valued at $257,000 after acquiring an additional 281 shares during the period. Wealthcare Advisory Partners LLC bought a new stake in shares of Microchip Technology in the fourth quarter valued at approximately $212,000. Finally, Lincoln National Corp boosted its position in shares of Microchip Technology by 5.0% in the fourth quarter. Lincoln National Corp now owns 5,542 shares of the semiconductor company’s stock valued at $500,000 after acquiring an additional 264 shares during the period. Institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Bank of America lowered Microchip Technology from a “buy” rating to a “neutral” rating and cut their target price for the company from $110.00 to $90.00 in a research note on Friday, August 2nd. TD Cowen cut their target price on Microchip Technology from $90.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Citigroup cut their target price 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. B. Riley cut their target price on Microchip Technology from $110.00 to $103.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Finally, Mizuho upgraded Microchip Technology from a “neutral” rating to a “buy” rating and upped their target price for the company from $85.00 to $115.00 in a research note on Friday, May 24th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus price target of $99.95.

Insider Activity at Microchip Technology

In related news, Director Matthew W. Chapman sold 2,748 shares of Microchip Technology stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $93.88, for a total value of $257,982.24. Following the sale, the director now owns 35,682 shares of the company’s stock, valued at approximately $3,349,826.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Matthew W. Chapman sold 2,748 shares of Microchip Technology stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $93.88, for a total value of $257,982.24. Following the sale, the director now owns 35,682 shares of the company’s stock, valued at approximately $3,349,826.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO James Eric Bjornholt sold 2,154 shares of Microchip Technology stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $81.50, for a total value of $175,551.00. Following the completion of the sale, the chief financial officer now directly owns 33,257 shares in the company, valued at approximately $2,710,445.50. The disclosure for this sale can be found here. 2.07% of the stock is owned by insiders.

Microchip Technology Trading Down 3.5 %

Microchip Technology stock traded down $2.66 during mid-day trading on Friday, hitting $74.09. The stock had a trading volume of 9,621,573 shares, compared to its average volume of 6,018,865. The company has a current ratio of 1.94, a quick ratio of 1.08 and a debt-to-equity ratio of 0.96. Microchip Technology Incorporated has a 12 month low of $68.75 and a 12 month high of $100.57. The stock has a market capitalization of $39.75 billion, a PE ratio of 21.35 and a beta of 1.53. The stock has a 50-day simple moving average of $84.38 and a two-hundred day simple moving average of $88.22.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. Microchip Technology had a return on equity of 28.33% and a net margin of 20.80%. Microchip Technology’s revenue was down 45.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.56 earnings per share. As a group, sell-side analysts forecast that Microchip Technology Incorporated will post 1.74 EPS for the current year.

Microchip Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were given a $0.454 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Thursday, August 22nd. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio (DPR) is currently 52.16%.

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.