Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC cut its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 6.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,587,712 shares of the semiconductor company’s stock after selling 116,434 shares during the period. Corient Private Wealth LLC owned about 0.30% of Microchip Technology worth $91,055,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. United Bank increased its holdings in Microchip Technology by 21.0% during the 3rd quarter. United Bank now owns 9,871 shares of the semiconductor company’s stock worth $793,000 after purchasing an additional 1,712 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Microchip Technology in the third quarter worth $548,000. Metis Global Partners LLC raised its holdings in Microchip Technology by 1.0% in the third quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company’s stock valued at $1,378,000 after acquiring an additional 172 shares in the last quarter. OneDigital Investment Advisors LLC boosted its stake in Microchip Technology by 6.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,458 shares of the semiconductor company’s stock valued at $358,000 after acquiring an additional 280 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in Microchip Technology by 25.7% during the 3rd quarter. Empowered Funds LLC now owns 96,163 shares of the semiconductor company’s stock worth $7,721,000 after acquiring an additional 19,663 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Trading Up 3.1 %

Shares of MCHP stock opened at $53.50 on Monday. The firm has a market capitalization of $28.77 billion, a PE ratio of 95.54 and a beta of 1.52. 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 Incorporated has a 1 year low of $50.21 and a 1 year high of $100.57. The stock has a fifty day moving average of $56.51 and a two-hundred day moving average of $65.58.

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

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were issued a dividend of $0.455 per share. The ex-dividend date was Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.40%. Microchip Technology’s payout ratio is 325.00%.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the sale, the chief financial officer now directly owns 33,272 shares in the company, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MCHP has been the topic of several research analyst reports. Mizuho lifted their price target on Microchip Technology from $58.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 4th. Needham & Company LLC lifted their target price on Microchip Technology from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. StockNews.com lowered Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Bank of America downgraded shares of Microchip Technology from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $80.00 to $65.00 in a report on Monday, December 16th. Finally, Stifel Nicolaus dropped their target price on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $74.37.

About Microchip Technology

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.