Stephens Inc. AR Reduces Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Stephens Inc. AR trimmed its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 78.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,669 shares of the semiconductor company’s stock after selling 95,064 shares during the quarter. Stephens Inc. AR’s holdings in Microchip Technology were worth $1,472,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pallas Capital Advisors LLC bought a new position in shares of Microchip Technology during the fourth quarter valued at approximately $5,917,000. Quadrature Capital Ltd bought a new position in Microchip Technology in the 3rd quarter worth $3,312,000. Symphony Financial Ltd. Co. purchased a new stake in shares of Microchip Technology in the 4th quarter worth about $520,000. Benjamin Edwards Inc. boosted its stake in shares of Microchip Technology by 5,185.4% during the 3rd quarter. Benjamin Edwards Inc. now owns 9,408 shares of the semiconductor company’s stock valued at $755,000 after purchasing an additional 9,230 shares in the last quarter. Finally, Empowered Funds LLC increased its position in shares of Microchip Technology by 25.7% during the third quarter. Empowered Funds LLC now owns 96,163 shares of the semiconductor company’s stock valued at $7,721,000 after buying an additional 19,663 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MCHP shares. Needham & Company LLC cut their price objective on Microchip Technology from $85.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Piper Sandler restated an “overweight” rating and set a $65.00 price target (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $90.00 price objective on shares of Microchip Technology in a report on Thursday, February 6th. Citigroup dropped their target price on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, KeyCorp reduced their target price on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Two investment 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $77.11.

Microchip Technology Stock Up 2.4 %

Microchip Technology stock opened at $53.85 on Thursday. Microchip Technology Incorporated has a one year low of $50.21 and a one year high of $100.57. The stock has a fifty day moving average of $57.09 and a 200 day moving average of $69.25. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88. The stock has a market cap of $28.96 billion, a PE ratio of 96.16 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.41% and a net margin of 6.49%. As a group, sell-side analysts predict that Microchip Technology Incorporated will post 1.3 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be paid a $0.455 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.38%. Microchip Technology’s dividend payout ratio (DPR) is presently 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.