Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Empirical Finance LLC

Empirical Finance LLC lowered its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 1.1% in the fourth quarter, HoldingsChannel reports. The firm owned 18,438 shares of the semiconductor company’s stock after selling 212 shares during the period. Empirical Finance LLC’s holdings in Microchip Technology were worth $1,057,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCHP. Prospera Private Wealth LLC acquired a new position in shares of Microchip Technology in the 3rd quarter valued at $29,000. Financial Life Planners purchased a new stake in Microchip Technology in the 4th quarter valued at about $32,000. Peterson Financial Group Inc. acquired a new position in Microchip Technology in the third quarter valued at about $34,000. Truvestments Capital LLC purchased a new position in Microchip Technology during the third quarter worth about $34,000. Finally, Wolff Wiese Magana LLC raised its stake in shares of Microchip Technology by 55.2% in the 3rd quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock valued at $49,000 after acquiring an additional 218 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Stock Up 0.3 %

Shares of NASDAQ MCHP opened at $52.05 on Tuesday. Microchip Technology Incorporated has a 1 year low of $50.21 and a 1 year high of $100.57. The company has a market capitalization of $27.95 billion, a price-to-earnings ratio of 92.95 and a beta of 1.50. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. The business has a 50-day moving average of $57.71 and a two-hundred day moving average of $69.72.

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 analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.41%. On average, analysts forecast that Microchip Technology Incorporated will post 1.3 earnings per share for the current fiscal 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 paid a dividend of $0.455 per share. The ex-dividend date is Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.50%. Microchip Technology’s dividend payout ratio is currently 325.00%.

Analyst Ratings Changes

MCHP has been the subject of a number of research analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $90.00 price objective on shares of Microchip Technology in a research report on Thursday, February 6th. TD Cowen cut their price objective on Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. Evercore ISI reissued an “outperform” rating and set a $95.00 target price (down previously from $101.00) on shares of Microchip Technology in a research note on Wednesday, November 6th. Mizuho dropped their target price on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Finally, Needham & Company LLC reduced their price target on shares of Microchip Technology from $85.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday. Two 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.