Citizens & Northern Corp Decreases Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Citizens & Northern Corp lowered its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 23.0% in the 4th quarter, HoldingsChannel reports. The fund owned 10,027 shares of the semiconductor company’s stock after selling 2,997 shares during the period. Citizens & Northern Corp’s holdings in Microchip Technology were worth $575,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Prospera Private Wealth LLC purchased a new position in shares of Microchip Technology in the 3rd quarter worth approximately $29,000. Financial Life Planners purchased a new position in Microchip Technology during the fourth quarter worth $32,000. Peterson Financial Group Inc. bought a new position in Microchip Technology during the third quarter valued at $34,000. Truvestments Capital LLC purchased a new stake in shares of Microchip Technology in the third quarter valued at $34,000. Finally, Hobbs Group Advisors LLC lifted its holdings in shares of Microchip Technology by 390.6% in the 3rd quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 500 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Microchip Technology Stock Performance

Shares of Microchip Technology stock opened at $55.76 on Tuesday. Microchip Technology Incorporated has a one year low of $50.21 and a one year high of $100.57. The company has a market capitalization of $29.94 billion, a PE ratio of 99.57 and a beta of 1.50. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88. The company has a 50-day simple moving average of $56.79 and a two-hundred day simple moving average of $68.55.

Microchip Technology (NASDAQ:MCHP) last posted 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 12.41%. Research analysts expect that Microchip Technology Incorporated will post 1.3 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Monday, February 24th. Microchip Technology’s dividend payout ratio is currently 325.00%.

Analyst Ratings Changes

MCHP has been the topic of several analyst reports. Mizuho cut their price target on shares of Microchip Technology from $85.00 to $72.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. KeyCorp cut their target price on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a research note on Friday, February 7th. Needham & Company LLC decreased their price target on Microchip Technology from $85.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, February 7th. StockNews.com downgraded Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Finally, Evercore ISI reiterated an “outperform” rating and set a $95.00 target price (down from $101.00) on shares of Microchip Technology in a research report on Wednesday, November 6th. Two 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.11.

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.