Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC reduced its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 283,431 shares of the semiconductor company’s stock after selling 7,310 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of Microchip Technology worth $16,255,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. V Square Quantitative Management LLC boosted its holdings in shares of Microchip Technology by 30.9% in the fourth quarter. V Square Quantitative Management LLC now owns 5,145 shares of the semiconductor company’s stock valued at $295,000 after acquiring an additional 1,215 shares during the period. Vontobel Holding Ltd. boosted its holdings in shares of Microchip Technology by 1.4% in the fourth quarter. Vontobel Holding Ltd. now owns 68,510 shares of the semiconductor company’s stock valued at $3,929,000 after acquiring an additional 978 shares during the period. Asset Management One Co. Ltd. boosted its holdings in shares of Microchip Technology by 2.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 210,669 shares of the semiconductor company’s stock valued at $12,290,000 after acquiring an additional 4,309 shares during the period. Howard Bailey Securities LLC boosted its holdings in shares of Microchip Technology by 31.4% in the fourth quarter. Howard Bailey Securities LLC now owns 4,816 shares of the semiconductor company’s stock valued at $276,000 after acquiring an additional 1,152 shares during the period. Finally, PrairieView Partners LLC boosted its holdings in shares of Microchip Technology by 70.4% in the fourth quarter. PrairieView Partners LLC now owns 1,193 shares of the semiconductor company’s stock valued at $68,000 after acquiring an additional 493 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Trading Up 2.8 %

Shares of MCHP stock opened at $55.76 on Friday. Microchip Technology Incorporated has a fifty-two week low of $50.21 and a fifty-two week high of $100.57. The stock has a market cap of $29.94 billion, a P/E ratio of 99.57 and a beta of 1.50. The business has a fifty day simple moving average of $56.79 and a 200-day simple moving average of $68.81. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share 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 Dividend Announcement

The business also recently disclosed 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. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date is Monday, February 24th. Microchip Technology’s payout ratio is currently 325.00%.

Analyst Upgrades and Downgrades

MCHP has been the subject of several recent research reports. 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 report on Tuesday, February 4th. Bank of America downgraded Microchip Technology from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $80.00 to $65.00 in a report on Monday, December 16th. Stifel Nicolaus decreased their price target on Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Mizuho decreased their price target on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Finally, TD Cowen decreased their price target on Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. 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 given a strong buy rating to the company. According to MarketBeat.com, Microchip Technology has a consensus rating of “Moderate Buy” and a consensus target price 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.