Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Exencial Wealth Advisors LLC

Exencial Wealth Advisors LLC cut its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 2.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 29,508 shares of the semiconductor company’s stock after selling 702 shares during the quarter. Exencial Wealth Advisors LLC’s holdings in Microchip Technology were worth $1,692,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Pallas Capital Advisors LLC acquired a new position in shares of Microchip Technology in the 4th quarter worth $5,917,000. Consolidated Planning Corp acquired a new position in shares of Microchip Technology in the 4th quarter worth $308,000. Quadrature Capital Ltd acquired a new position in shares of Microchip Technology in the 3rd quarter worth $3,312,000. Symphony Financial Ltd. Co. acquired a new position in shares of Microchip Technology in the 4th quarter worth $520,000. Finally, Benjamin Edwards Inc. grew its holdings in shares of Microchip Technology by 5,185.4% in the 3rd quarter. Benjamin Edwards Inc. now owns 9,408 shares of the semiconductor company’s stock worth $755,000 after acquiring an additional 9,230 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group decreased their target price on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. StockNews.com cut Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 10th. Stifel Nicolaus decreased their target price on Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. Raymond James reiterated a “strong-buy” rating and set a $60.00 price target (down previously from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. Finally, B. Riley reiterated a “buy” rating and set a $75.00 price target (down previously from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. 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 MarketBeat.com, Microchip Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.37.

Insider Transactions at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the sale, the chief financial officer now owns 33,272 shares in the company, valued at approximately $2,025,599.36. This represents a 10.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by corporate insiders.

Microchip Technology Price Performance

MCHP opened at $58.14 on Wednesday. The stock has a market cap of $31.27 billion, a price-to-earnings ratio of 103.82 and a beta of 1.50. Microchip Technology Incorporated has a 1 year low of $50.21 and a 1 year high of $100.57. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. The stock has a fifty day moving average price of $56.93 and a 200 day moving average price of $67.04.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (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%. Analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be paid a dividend of $0.455 per share. The ex-dividend date is Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 3.13%. Microchip Technology’s dividend payout ratio (DPR) is presently 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.