Exchange Capital Management Inc. Cuts Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Exchange Capital Management Inc. cut its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 1.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 37,541 shares of the semiconductor company’s stock after selling 520 shares during the quarter. Exchange Capital Management Inc.’s holdings in Microchip Technology were worth $2,153,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Advocates Investment Management grew its position 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 purchasing an additional 158 shares during the last quarter. Metis Global Partners LLC lifted its holdings in Microchip Technology by 1.0% during the 3rd quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company’s stock worth $1,378,000 after buying an additional 172 shares in the last quarter. Americana Partners LLC grew its position in shares of Microchip Technology by 5.5% during the third quarter. Americana Partners LLC now owns 3,441 shares of the semiconductor company’s stock worth $276,000 after buying an additional 179 shares in the last quarter. Plato Investment Management Ltd increased its holdings in Microchip Technology by 5.8% in the third quarter. Plato Investment Management Ltd now owns 3,499 shares of the semiconductor company’s stock valued at $281,000 after buying an additional 191 shares during the last quarter. Finally, Summit Global Investments lifted its position in shares of Microchip Technology by 2.5% during the 3rd quarter. Summit Global Investments now owns 8,463 shares of the semiconductor company’s stock worth $679,000 after buying an additional 207 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

MCHP has been the subject of a number of analyst reports. Stifel Nicolaus cut their price objective on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, December 3rd. Raymond James reissued a “strong-buy” rating and set a $60.00 price target (down previously from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. Susquehanna lowered their price target on shares of Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, November 6th. Jefferies Financial Group decreased their target price on Microchip Technology from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Finally, Bank of America lowered shares of Microchip Technology from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $80.00 to $65.00 in a research note on Monday, December 16th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average price target of $77.11.

Microchip Technology Trading Down 0.4 %

NASDAQ MCHP opened at $60.83 on Tuesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The company has a market capitalization of $32.72 billion, a PE ratio of 108.63 and a beta of 1.50. The company has a fifty day moving average of $56.74 and a 200 day moving average of $67.88. Microchip Technology Incorporated has a 1 year low of $50.21 and a 1 year high of $100.57.

Microchip Technology (NASDAQ:MCHP) last issued 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 return on equity of 12.62% and a net margin of 6.49%. Research analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be issued a $0.455 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.99%. 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.