Microchip Technology Incorporated (NASDAQ:MCHP) Position Cut by Blair William & Co. IL

Blair William & Co. IL decreased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 32.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 671,287 shares of the semiconductor company’s stock after selling 321,104 shares during the quarter. Blair William & Co. IL owned about 0.13% of Microchip Technology worth $38,498,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Coldstream Capital Management Inc. boosted its holdings in shares of Microchip Technology by 2.4% during the third quarter. Coldstream Capital Management Inc. now owns 11,052 shares of the semiconductor company’s stock worth $878,000 after purchasing an additional 260 shares during the period. EP Wealth Advisors LLC boosted its stake in shares of Microchip Technology by 1.8% during the 3rd quarter. EP Wealth Advisors LLC now owns 14,725 shares of the semiconductor company’s stock valued at $1,182,000 after buying an additional 264 shares during the period. Lebenthal Global Advisors LLC grew its holdings in shares of Microchip Technology by 7.3% during the 4th quarter. Lebenthal Global Advisors LLC now owns 3,894 shares of the semiconductor company’s stock valued at $223,000 after acquiring an additional 266 shares in the last quarter. Elmwood Wealth Management Inc. increased its stake in shares of Microchip Technology by 1.5% in the fourth quarter. Elmwood Wealth Management Inc. now owns 20,558 shares of the semiconductor company’s stock worth $1,179,000 after acquiring an additional 300 shares during the last quarter. Finally, Stratos Wealth Partners LTD. raised its holdings in shares of Microchip Technology by 7.4% during the fourth quarter. Stratos Wealth Partners LTD. now owns 4,680 shares of the semiconductor company’s stock worth $268,000 after acquiring an additional 321 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In related news, CFO James Eric Bjornholt sold 3,724 shares of the 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 completion of the transaction, the chief financial officer now owns 33,272 shares of the company’s stock, valued at $2,025,599.36. This represents a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on MCHP shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $70.00 target price on shares of Microchip Technology in a research report on Tuesday, March 4th. B. Riley reaffirmed a “buy” rating and set a $75.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. StockNews.com cut shares of Microchip Technology from a “hold” rating to a “sell” rating in a research note on Monday, February 10th. Needham & Company LLC increased their price target on shares of Microchip Technology from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Finally, Evercore ISI lifted their price objective on shares of Microchip Technology from $65.00 to $71.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.37.

Microchip Technology Price Performance

Shares of Microchip Technology stock opened at $50.79 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The company has a market cap of $27.32 billion, a PE ratio of 90.70 and a beta of 1.52. The firm has a fifty day moving average price of $55.83 and a two-hundred day moving average price of $64.16. Microchip Technology Incorporated has a fifty-two week low of $49.92 and a fifty-two week high of $100.57.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. 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 given a $0.455 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.58%. Microchip Technology’s dividend payout ratio (DPR) is currently 325.00%.

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.