Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC lowered its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 6.1% in the fourth quarter, Holdings Channel reports. The firm owned 65,631 shares of the semiconductor company’s stock after selling 4,229 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Microchip Technology were worth $3,764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Handelsbanken Fonder AB grew its holdings in shares of Microchip Technology by 17.0% during the fourth quarter. Handelsbanken Fonder AB now owns 277,224 shares of the semiconductor company’s stock worth $15,899,000 after buying an additional 40,274 shares during the last quarter. Private Advisor Group LLC raised its stake in Microchip Technology by 0.6% during the 4th quarter. Private Advisor Group LLC now owns 60,169 shares of the semiconductor company’s stock valued at $3,451,000 after acquiring an additional 373 shares during the last quarter. Bank of Jackson Hole Trust acquired a new stake in Microchip Technology during the 4th quarter worth approximately $461,000. Venturi Wealth Management LLC grew its stake in shares of Microchip Technology by 54.7% in the 4th quarter. Venturi Wealth Management LLC now owns 12,668 shares of the semiconductor company’s stock valued at $727,000 after purchasing an additional 4,478 shares during the last quarter. Finally, Empower Advisory Group LLC increased its holdings in shares of Microchip Technology by 10.5% in the fourth quarter. Empower Advisory Group LLC now owns 3,836 shares of the semiconductor company’s stock valued at $220,000 after purchasing an additional 366 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MCHP has been the subject of several recent research reports. Jefferies Financial Group decreased their price target on Microchip Technology from $100.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Piper Sandler restated an “overweight” rating and issued a $65.00 target price (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. StockNews.com downgraded shares of Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 10th. TD Cowen cut their price target on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Finally, Morgan Stanley lowered their price objective on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $77.11.

Microchip Technology Trading Up 1.1 %

Shares of MCHP opened at $64.30 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. Microchip Technology Incorporated has a 1-year low of $50.21 and a 1-year high of $100.57. The stock has a market cap of $34.58 billion, a price-to-earnings ratio of 114.82 and a beta of 1.50. The firm has a 50 day simple moving average of $56.63 and a 200-day simple moving average of $68.19.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results 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 net margin of 6.49% and a return on equity of 12.62%. Equities analysts forecast 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. Investors of record on Monday, February 24th will be paid a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 2.83%. The ex-dividend date is Monday, February 24th. Microchip Technology’s payout ratio is 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.