Brown Brothers Harriman & Co. Sells 1,554 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Brown Brothers Harriman & Co. decreased its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 7.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,100 shares of the semiconductor company’s stock after selling 1,554 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Microchip Technology were worth $1,038,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. United Bank increased its position in Microchip Technology by 21.0% during the third quarter. United Bank now owns 9,871 shares of the semiconductor company’s stock worth $793,000 after acquiring an additional 1,712 shares during the period. Townsquare Capital LLC grew its position in Microchip Technology by 10.7% in the 3rd quarter. Townsquare Capital LLC now owns 25,143 shares of the semiconductor company’s stock worth $2,019,000 after purchasing an additional 2,421 shares during the last quarter. Financial Counselors Inc. increased its holdings in shares of Microchip Technology by 55.3% during the 3rd quarter. Financial Counselors Inc. now owns 10,451 shares of the semiconductor company’s stock worth $839,000 after purchasing an additional 3,723 shares during the period. Edgestream Partners L.P. raised its position in shares of Microchip Technology by 190.1% during the third quarter. Edgestream Partners L.P. now owns 37,377 shares of the semiconductor company’s stock valued at $3,001,000 after buying an additional 24,491 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new stake in shares of Microchip Technology in the third quarter valued at about $5,509,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MCHP. TD Cowen boosted their price target on Microchip Technology from $50.00 to $60.00 and gave the company a “hold” rating in a research note on Tuesday, March 4th. Bank of America cut Microchip Technology from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $80.00 to $65.00 in a research report on Monday, December 16th. KeyCorp reduced their target price on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. Stifel Nicolaus lowered their price target 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. Finally, Morgan Stanley reduced their price objective on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. 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 given a strong buy rating to the stock. According to MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and an average target price of $74.37.

Microchip Technology Trading Down 4.1 %

Shares of MCHP opened at $48.70 on Monday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. The company has a market cap of $26.19 billion, a price-to-earnings ratio of 86.96 and a beta of 1.52. The stock has a fifty day moving average price of $55.65 and a two-hundred day moving average price of $63.80. Microchip Technology Incorporated has a 52-week low of $48.27 and a 52-week high of $100.57.

Microchip Technology (NASDAQ:MCHP) last released its quarterly 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%. Analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were paid a dividend of $0.455 per share. The ex-dividend date was Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 3.74%. Microchip Technology’s dividend payout ratio (DPR) is currently 325.00%.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the transaction, the chief financial officer now owns 33,272 shares in the company, valued at $2,025,599.36. This trade represents a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is currently owned by company insiders.

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.