Microchip Technology Incorporated (NASDAQ:MCHP) Holdings Lowered by Corient Private Wealth LLC

Corient Private Wealth LLC lowered its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 6.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,587,712 shares of the semiconductor company’s stock after selling 116,434 shares during the quarter. Corient Private Wealth LLC’s holdings in Microchip Technology were worth $91,055,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. United Bank increased its position in shares of Microchip Technology by 21.0% in the third quarter. United Bank now owns 9,871 shares of the semiconductor company’s stock worth $793,000 after acquiring an additional 1,712 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Microchip Technology in the 3rd quarter worth approximately $548,000. Metis Global Partners LLC raised its stake 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 valued at $1,378,000 after purchasing an additional 172 shares during the period. OneDigital Investment Advisors LLC lifted its holdings in shares of Microchip Technology by 6.7% in the third quarter. OneDigital Investment Advisors LLC now owns 4,458 shares of the semiconductor company’s stock valued at $358,000 after purchasing an additional 280 shares in the last quarter. Finally, Empowered Funds LLC boosted its position in shares of Microchip Technology by 25.7% in the third quarter. Empowered Funds LLC now owns 96,163 shares of the semiconductor company’s stock worth $7,721,000 after buying an additional 19,663 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Stock Performance

Shares of MCHP opened at $53.50 on Monday. The company has a market capitalization of $28.77 billion, a PE ratio of 95.54 and a beta of 1.52. 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 one year low of $50.21 and a one year high of $100.57. The company’s fifty day moving average price is $56.51 and its 200 day moving average price is $65.58.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. As a group, analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is currently 325.00%.

Wall Street Analysts Forecast Growth

MCHP has been the topic of several recent analyst reports. Needham & Company LLC upped their price target on Microchip Technology from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. The Goldman Sachs Group reduced their price target on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Rosenblatt Securities reaffirmed a “buy” rating and set a $70.00 price objective on shares of Microchip Technology in a research report on Tuesday, March 4th. TD Cowen increased their target price on shares of Microchip Technology from $50.00 to $60.00 and gave the stock a “hold” rating in a research report on Tuesday, March 4th. Finally, Bank of America cut shares of Microchip Technology from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $80.00 to $65.00 in a report on Monday, December 16th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $74.37.

Insider Activity at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the completion of the transaction, the chief financial officer now owns 33,272 shares of the company’s stock, valued at $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 is available at this link. Corporate insiders own 2.10% of the company’s stock.

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.