Princeton Capital Management LLC Has $2.75 Million Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Princeton Capital Management LLC cut its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 4.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,474 shares of the semiconductor company’s stock after selling 1,371 shares during the quarter. Microchip Technology accounts for about 1.1% of Princeton Capital Management LLC’s portfolio, making the stock its 20th biggest position. Princeton Capital Management LLC’s holdings in Microchip Technology were worth $2,748,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Quadrant Capital Group LLC increased its stake in Microchip Technology by 3.9% in the 4th quarter. Quadrant Capital Group LLC now owns 4,707 shares of the semiconductor company’s stock valued at $424,000 after buying an additional 177 shares during the last quarter. Cincinnati Insurance Co. boosted its position in Microchip Technology by 55.0% in the fourth quarter. Cincinnati Insurance Co. now owns 193,100 shares of the semiconductor company’s stock worth $17,414,000 after purchasing an additional 68,500 shares during the last quarter. Cincinnati Financial Corp grew its stake in Microchip Technology by 130.2% in the 4th quarter. Cincinnati Financial Corp now owns 677,250 shares of the semiconductor company’s stock valued at $61,074,000 after purchasing an additional 383,000 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Microchip Technology by 122.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 212,329 shares of the semiconductor company’s stock valued at $19,148,000 after purchasing an additional 116,887 shares during the last quarter. Finally, Lmcg Investments LLC raised its stake in shares of Microchip Technology by 0.3% during the 4th quarter. Lmcg Investments LLC now owns 114,335 shares of the semiconductor company’s stock worth $10,311,000 after purchasing an additional 346 shares during the period. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Price Performance

NASDAQ MCHP traded up $0.09 on Friday, hitting $94.33. The stock had a trading volume of 3,609,616 shares, compared to its average volume of 5,517,406. The firm has a 50-day moving average of $89.44 and a 200-day moving average of $86.32. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.67 and a current ratio of 1.20. Microchip Technology Incorporated has a 52-week low of $68.75 and a 52-week high of $96.14. The company has a market capitalization of $50.98 billion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 3.33 and a beta of 1.60.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Monday, May 6th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. Microchip Technology had a return on equity of 36.78% and a net margin of 24.98%. The firm’s revenue was down 40.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.56 earnings per share. Equities analysts expect that Microchip Technology Incorporated will post 2.38 EPS for the current year.

Microchip Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd will be paid a $0.452 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.81 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Tuesday, May 21st. Microchip Technology’s dividend payout ratio (DPR) is currently 51.87%.

Insider Buying and Selling at Microchip Technology

In related news, CFO James Eric Bjornholt sold 1,970 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $83.90, for a total value 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 $2,759,722.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO James Eric Bjornholt sold 1,970 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 32,893 shares in the company, valued at approximately $2,759,722.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Stephen V. Drehobl sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $90.88, for a total transaction of $908,800.00. Following 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. Insiders sold a total of 19,800 shares of company stock worth $1,818,403 over the last three months. 2.07% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MCHP has been the subject of a number of research analyst reports. TD Cowen raised their price objective on shares of Microchip Technology from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Tuesday, May 7th. B. Riley raised their price target on shares of Microchip Technology from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. KeyCorp upped their price objective on Microchip Technology from $90.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Needham & Company LLC raised their target price on Microchip Technology from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Finally, Stifel Nicolaus upped their price target on Microchip Technology from $98.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Microchip Technology has a consensus rating of “Moderate Buy” and an average price target of $99.39.

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.