Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Boston Financial Mangement LLC

Boston Financial Mangement LLC lessened its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 16.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,516 shares of the semiconductor company’s stock after selling 699 shares during the quarter. Boston Financial Mangement LLC’s holdings in Microchip Technology were worth $202,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Eastern Bank acquired a new stake in Microchip Technology during the third quarter worth about $165,000. International Assets Investment Management LLC raised its stake in Microchip Technology by 8,163.6% during the third quarter. International Assets Investment Management LLC now owns 234,768 shares of the semiconductor company’s stock worth $18,850,000 after acquiring an additional 231,927 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in Microchip Technology by 2.0% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 49,280 shares of the semiconductor company’s stock worth $3,957,000 after acquiring an additional 972 shares during the period. Grimes & Company Inc. raised its stake in Microchip Technology by 16.1% during the third quarter. Grimes & Company Inc. now owns 5,554 shares of the semiconductor company’s stock worth $446,000 after acquiring an additional 770 shares during the period. Finally, Dakota Wealth Management raised its stake in Microchip Technology by 13.8% during the third quarter. Dakota Wealth Management now owns 5,951 shares of the semiconductor company’s stock worth $478,000 after acquiring an additional 722 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MCHP shares. Evercore ISI reiterated an “outperform” rating and set a $95.00 price objective (down previously from $101.00) on shares of Microchip Technology in a research note on Wednesday, November 6th. Jefferies Financial Group dropped their price objective on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. The Goldman Sachs Group decreased their target price on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. KeyCorp decreased their target price on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. Finally, Piper Sandler restated an “overweight” rating and issued a $65.00 target price (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $77.11.

Microchip Technology Trading Down 5.0 %

Microchip Technology stock opened at $61.07 on Friday. The firm has a 50 day simple moving average of $56.68 and a 200-day simple moving average of $68.16. 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 stock has a market capitalization of $32.84 billion, a PE ratio of 109.05 and a beta of 1.50. Microchip Technology Incorporated has a 12-month low of $50.21 and a 12-month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities research analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Monday, February 24th. Microchip Technology’s payout ratio is 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.