Microchip Technology Incorporated (NASDAQ:MCHP) Stock Holdings Reduced by Farther Finance Advisors LLC

Farther Finance Advisors LLC lowered its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 62.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,972 shares of the semiconductor company’s stock after selling 4,977 shares during the quarter. Farther Finance Advisors LLC’s holdings in Microchip Technology were worth $170,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. United Bank boosted its stake in shares of Microchip Technology by 21.0% during the 3rd quarter. United Bank now owns 9,871 shares of the semiconductor company’s stock worth $793,000 after acquiring an additional 1,712 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Microchip Technology during the 3rd quarter worth about $548,000. OneDigital Investment Advisors LLC boosted its stake in shares of Microchip Technology by 6.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,458 shares of the semiconductor company’s stock worth $358,000 after acquiring an additional 280 shares in the last quarter. Quest Partners LLC boosted its stake in shares of Microchip Technology by 463,300.0% during the 3rd quarter. Quest Partners LLC now owns 4,634 shares of the semiconductor company’s stock worth $372,000 after acquiring an additional 4,633 shares in the last quarter. Finally, Prospera Financial Services Inc boosted its stake in shares of Microchip Technology by 21.3% during the 3rd quarter. Prospera Financial Services Inc now owns 63,522 shares of the semiconductor company’s stock worth $5,100,000 after acquiring an additional 11,161 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on MCHP shares. Morgan Stanley decreased their price target on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Stifel Nicolaus cut their price objective on Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, December 3rd. Mizuho boosted their price objective on Microchip Technology from $58.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Bank of America cut Microchip Technology from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $80.00 to $65.00 in a research report on Monday, December 16th. Finally, B. Riley reissued 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. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $74.37.

Insider Buying and Selling

In related news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total transaction of $226,717.12. Following the sale, the chief financial officer now directly owns 33,272 shares in the company, valued at $2,025,599.36. This represents a 10.07 % decrease in their position. 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 owned by corporate insiders.

Microchip Technology Trading Up 0.7 %

MCHP stock opened at $54.57 on Thursday. Microchip Technology Incorporated has a 1-year low of $50.21 and a 1-year high of $100.57. The firm has a market cap of $29.35 billion, a P/E ratio of 97.45 and a beta of 1.52. The business’s 50 day moving average is $56.35 and its 200-day moving average is $65.13. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12.

Microchip Technology (NASDAQ:MCHP) last released 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 net margin of 6.49% and a return on equity of 12.62%. Equities analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were given a dividend of $0.455 per share. The ex-dividend date was Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a yield of 3.34%. Microchip Technology’s dividend payout ratio (DPR) is presently 325.00%.

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.