Microchip Technology Incorporated (NASDAQ:MCHP) Stock Position Lessened by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd decreased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 1.1% in the 4th quarter, HoldingsChannel reports. The firm owned 42,559 shares of the semiconductor company’s stock after selling 454 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Microchip Technology were worth $2,440,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Pallas Capital Advisors LLC bought a new position in Microchip Technology during the fourth quarter valued at about $5,917,000. Consolidated Planning Corp bought a new position in Microchip Technology during the fourth quarter valued at about $308,000. Quadrature Capital Ltd bought a new position in Microchip Technology during the third quarter valued at about $3,312,000. Symphony Financial Ltd. Co. bought a new position in Microchip Technology during the fourth quarter valued at about $520,000. Finally, Benjamin Edwards Inc. boosted its stake in Microchip Technology by 5,185.4% during the third quarter. Benjamin Edwards Inc. now owns 9,408 shares of the semiconductor company’s stock valued at $755,000 after buying an additional 9,230 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Up 3.0 %

Shares of Microchip Technology stock opened at $58.86 on Friday. The stock has a 50-day moving average price of $56.94 and a 200 day moving average price of $67.52. The company has a market cap of $31.66 billion, a P/E ratio of 105.11 and a beta of 1.50. 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 Incorporated has a 1 year low of $50.21 and a 1 year high of $100.57.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results 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 12.62% and a net margin of 6.49%. As a group, analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Monday, February 24th will be given a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 3.09%. The ex-dividend date is Monday, February 24th. Microchip Technology’s payout ratio is currently 325.00%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. TD Cowen decreased their target price on Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Raymond James reaffirmed a “strong-buy” rating and set a $60.00 target price (down from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. Morgan Stanley reduced their target price on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Susquehanna reduced their target price on Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, November 6th. Finally, Bank of America downgraded Microchip Technology from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $80.00 to $65.00 in a report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and an average price target of $77.11.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the company’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 directly owns 33,272 shares of the company’s stock, valued at $2,025,599.36. This represents a 10.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.10% of the company’s stock.

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.