Segall Bryant & Hamill LLC Sells 108,373 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Segall Bryant & Hamill LLC reduced its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 58.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 76,375 shares of the semiconductor company’s stock after selling 108,373 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Microchip Technology were worth $4,380,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of MCHP. Pallas Capital Advisors LLC bought a new position in Microchip Technology in the 4th quarter valued at $5,917,000. Consolidated Planning Corp acquired a new stake in Microchip Technology in the fourth quarter worth about $308,000. Quadrature Capital Ltd bought a new stake in Microchip Technology during the 3rd quarter worth about $3,312,000. Symphony Financial Ltd. Co. acquired a new position in Microchip Technology during the 4th quarter valued at about $520,000. Finally, one8zero8 LLC acquired a new stake in shares of Microchip Technology during the 4th quarter worth approximately $384,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the transaction, the chief financial officer now directly owns 33,272 shares in the company, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Needham & Company LLC raised their price objective on shares of Microchip Technology from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. KeyCorp reduced their price target on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Rosenblatt Securities reissued a “buy” rating and issued a $70.00 target price on shares of Microchip Technology in a research note on Tuesday, March 4th. The Goldman Sachs Group decreased their target price on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Finally, TD Cowen increased their price target on shares of Microchip Technology from $50.00 to $60.00 and gave the company a “hold” rating in a research report on Tuesday, March 4th. Two equities research 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $74.37.

Microchip Technology Stock Down 2.6 %

Shares of Microchip Technology stock opened at $50.79 on Friday. Microchip Technology Incorporated has a 52-week low of $49.92 and a 52-week high of $100.57. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. The business’s 50 day simple moving average is $55.83 and its 200 day simple moving average is $64.16. The firm has a market cap of $27.32 billion, a PE ratio of 90.70 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. On average, analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were issued a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 3.58%. The ex-dividend date was Monday, February 24th. Microchip Technology’s payout ratio is 325.00%.

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.