TFG Advisers LLC Sells 2,087 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

TFG Advisers LLC cut its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 8.5% in the fourth quarter, HoldingsChannel reports. The firm owned 22,444 shares of the semiconductor company’s stock after selling 2,087 shares during the period. TFG Advisers LLC’s holdings in Microchip Technology were worth $1,287,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Corundum Group Inc. grew its stake in shares of Microchip Technology by 3.4% during the third quarter. Corundum Group Inc. now owns 4,315 shares of the semiconductor company’s stock valued at $346,000 after purchasing an additional 143 shares during the last quarter. Financial Advocates Investment Management lifted its holdings in Microchip Technology by 1.5% during the 3rd quarter. Financial Advocates Investment Management now owns 10,795 shares of the semiconductor company’s stock worth $867,000 after buying an additional 158 shares in the last quarter. Metis Global Partners LLC boosted its position in Microchip Technology by 1.0% in the 3rd quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company’s stock valued at $1,378,000 after buying an additional 172 shares during the last quarter. Americana Partners LLC increased its stake in shares of Microchip Technology by 5.5% in the 3rd quarter. Americana Partners LLC now owns 3,441 shares of the semiconductor company’s stock valued at $276,000 after buying an additional 179 shares during the period. Finally, Plato Investment Management Ltd raised its position in shares of Microchip Technology by 5.8% during the third quarter. Plato Investment Management Ltd now owns 3,499 shares of the semiconductor company’s stock worth $281,000 after acquiring an additional 191 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on MCHP. Evercore ISI reiterated an “outperform” rating and issued a $95.00 price target (down previously from $101.00) on shares of Microchip Technology in a report on Wednesday, November 6th. Susquehanna reduced their target price on shares of Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, November 6th. B. Riley reissued a “buy” rating and set a $75.00 price target (down from $85.00) on shares of Microchip Technology in a research note on Friday. Mizuho reduced their price objective on shares of Microchip Technology from $85.00 to $72.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Finally, StockNews.com raised shares of Microchip Technology from a “sell” rating to a “hold” rating in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus price target of $77.11.

Microchip Technology Trading Down 2.3 %

NASDAQ MCHP opened at $51.89 on Friday. Microchip Technology Incorporated has a one year low of $50.21 and a one year high of $100.57. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. The firm has a market cap of $27.87 billion, a P/E ratio of 92.66 and a beta of 1.50. The stock’s 50-day moving average is $58.04 and its 200-day moving average is $70.26.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.41% and a net margin of 6.49%. Sell-side analysts anticipate that Microchip Technology Incorporated will post 1.3 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Monday, February 24th. Microchip Technology’s payout ratio is presently 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.