Curi Wealth Management LLC Reduces Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Curi Wealth Management LLC reduced its stake in Microchip Technology Incorporated (NASDAQ:MCHPFree Report) by 10.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,996 shares of the semiconductor company’s stock after selling 16,421 shares during the quarter. Microchip Technology comprises approximately 1.7% of Curi Wealth Management LLC’s portfolio, making the stock its 16th biggest holding. Curi Wealth Management LLC’s holdings in Microchip Technology were worth $12,535,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Financial Advocates Investment Management boosted its holdings in shares of Microchip Technology by 4.1% during the third quarter. Financial Advocates Investment Management now owns 3,607 shares of the semiconductor company’s stock worth $281,000 after purchasing an additional 142 shares during the last quarter. Perigon Wealth Management LLC grew its holdings in Microchip Technology by 6.6% in the third quarter. Perigon Wealth Management LLC now owns 5,628 shares of the semiconductor company’s stock valued at $439,000 after purchasing an additional 347 shares during the period. Choate Investment Advisors increased its position in Microchip Technology by 10.2% during the third quarter. Choate Investment Advisors now owns 2,916 shares of the semiconductor company’s stock worth $228,000 after purchasing an additional 270 shares during the last quarter. First Citizens Bank & Trust Co. boosted its holdings in shares of Microchip Technology by 5.5% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 6,716 shares of the semiconductor company’s stock valued at $524,000 after purchasing an additional 350 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of Microchip Technology by 229.8% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,028 shares of the semiconductor company’s stock valued at $158,000 after buying an additional 1,413 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Buying and Selling

In other Microchip Technology news, CFO James Eric Bjornholt sold 1,970 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $83.90, for a total value of $165,283.00. Following the sale, the chief financial officer now directly owns 32,893 shares in the company, valued at $2,759,722.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Microchip Technology news, CFO James Eric Bjornholt sold 1,970 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total value of $165,283.00. Following the transaction, the chief financial officer now owns 32,893 shares of the company’s stock, valued at $2,759,722.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Stephen V. Drehobl sold 10,000 shares of Microchip Technology stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $90.88, for a total value of $908,800.00. Following the completion of the transaction, the vice president now owns 82,203 shares in the company, valued at $7,470,608.64. The disclosure for this sale can be found here. 2.07% of the stock is owned by corporate insiders.

Microchip Technology Stock Performance

Shares of Microchip Technology stock traded up $1.32 on Tuesday, reaching $93.86. 3,806,718 shares of the company were exchanged, compared to its average volume of 5,545,971. Microchip Technology Incorporated has a 1-year low of $68.75 and a 1-year high of $96.14. The firm has a market cap of $50.72 billion, a price-to-earnings ratio of 27.05, a P/E/G ratio of 3.03 and a beta of 1.60. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.67 and a current ratio of 1.20. The company’s 50-day moving average is $89.00 and its two-hundred day moving average is $85.88.

Microchip Technology (NASDAQ:MCHPGet Free Report) last announced its quarterly earnings results on Monday, May 6th. The semiconductor company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. Microchip Technology had a net margin of 24.98% and a return on equity of 36.78%. Microchip Technology’s revenue was down 40.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.56 earnings per share. As a group, research analysts expect that Microchip Technology Incorporated will post 2.51 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd will be paid a dividend of $0.452 per share. This represents a $1.81 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Tuesday, May 21st. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio (DPR) is currently 51.87%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Piper Sandler reissued a “neutral” rating and set a $90.00 price target (up previously from $80.00) on shares of Microchip Technology in a research report on Tuesday, May 7th. Truist Financial increased their target price on shares of Microchip Technology from $93.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. The Goldman Sachs Group lifted their price target on shares of Microchip Technology from $77.00 to $88.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Evercore ISI started coverage on shares of Microchip Technology in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $106.00 price objective for the company. Finally, Jefferies Financial Group assumed coverage on shares of Microchip Technology in a research note on Monday. They issued a “buy” rating and a $115.00 target price on the stock. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and a consensus target price of $99.39.

Read Our Latest Report on MCHP

Microchip Technology Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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