Microchip Technology Incorporated (NASDAQ:MCHP) Stock Position Lowered by Boston Financial Mangement LLC

Boston Financial Mangement LLC lessened its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 16.6% in the 4th quarter, Holdings Channel reports. The fund owned 3,516 shares of the semiconductor company’s stock after selling 699 shares during the period. Boston Financial Mangement LLC’s holdings in Microchip Technology were worth $202,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Prospera Private Wealth LLC purchased a new stake in shares of Microchip Technology in the 3rd quarter valued at approximately $29,000. Peterson Financial Group Inc. purchased a new stake in Microchip Technology in the 3rd quarter worth approximately $34,000. Truvestments Capital LLC purchased a new stake in Microchip Technology in the 3rd quarter worth approximately $34,000. Financial Life Planners purchased a new stake in Microchip Technology in the 4th quarter worth approximately $32,000. Finally, Hobbs Group Advisors LLC lifted its position in Microchip Technology by 390.6% in the 3rd quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock worth $50,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

MCHP has been the topic of a number of recent research reports. B. Riley restated a “buy” rating and set a $75.00 price target (down previously from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Morgan Stanley lowered their target price on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Rosenblatt Securities reiterated a “buy” rating and issued a $90.00 target price on shares of Microchip Technology in a research note on Thursday, February 6th. KeyCorp lowered their target price on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a research note on Friday, February 7th. Finally, Stifel Nicolaus decreased their price target on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $77.11.

Microchip Technology Trading Down 5.0 %

Shares of MCHP stock opened at $61.07 on Friday. Microchip Technology Incorporated has a 12-month low of $50.21 and a 12-month high of $100.57. The company has a market capitalization of $32.84 billion, a P/E ratio of 109.05 and a beta of 1.50. The firm has a 50-day moving average price of $56.68 and a 200 day moving average price of $68.16. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. Research analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Monday, February 24th will be paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Monday, February 24th. Microchip Technology’s dividend payout ratio is presently 325.00%.

Microchip Technology Company 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.