Rothschild Investment LLC Cuts Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Rothschild Investment LLC cut its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 14.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,390 shares of the semiconductor company’s stock after selling 3,016 shares during the period. Rothschild Investment LLC’s holdings in Microchip Technology were worth $997,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Prospera Private Wealth LLC purchased a new position in shares of Microchip Technology in the 3rd quarter valued at about $29,000. Financial Life Planners acquired a new stake in Microchip Technology in the fourth quarter valued at approximately $32,000. Peterson Financial Group Inc. acquired a new stake in Microchip Technology in the third quarter valued at approximately $34,000. Truvestments Capital LLC purchased a new position in Microchip Technology in the third quarter worth approximately $34,000. Finally, Hobbs Group Advisors LLC grew its holdings in Microchip Technology by 390.6% during the 3rd quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 500 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Trading Down 0.4 %

NASDAQ MCHP opened at $60.83 on Tuesday. Microchip Technology Incorporated has a one year low of $50.21 and a one year high of $100.57. The firm has a market cap of $32.72 billion, a PE ratio of 108.63 and a beta of 1.50. The firm’s fifty day moving average is $56.74 and its two-hundred day moving average is $67.88. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25.

Microchip Technology (NASDAQ:MCHP) last issued 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%. Analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Monday, February 24th. Microchip Technology’s dividend payout ratio is presently 325.00%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MCHP. StockNews.com cut shares of Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Bank of America downgraded Microchip Technology from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $80.00 to $65.00 in a report on Monday, December 16th. Evercore ISI reiterated an “outperform” rating and issued a $95.00 price objective (down previously from $101.00) on shares of Microchip Technology in a report on Wednesday, November 6th. Stifel Nicolaus decreased their target price on Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, December 3rd. Finally, Susquehanna lowered their price target on Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $77.11.

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.