Blair William & Co. IL Has $38.50 Million Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Blair William & Co. IL lowered its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 32.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 671,287 shares of the semiconductor company’s stock after selling 321,104 shares during the quarter. Blair William & Co. IL’s holdings in Microchip Technology were worth $38,498,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC bought a new position in shares of Microchip Technology in the fourth quarter valued at approximately $26,000. Rakuten Securities Inc. increased its holdings in Microchip Technology by 309.5% during the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 359 shares in the last quarter. OFI Invest Asset Management bought a new position in Microchip Technology in the 4th quarter valued at $29,000. Financial Life Planners acquired a new position in Microchip Technology in the fourth quarter worth $32,000. Finally, Truvestments Capital LLC bought a new stake in shares of Microchip Technology during the third quarter worth $34,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

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 transaction, the chief financial officer now directly owns 33,272 shares of the company’s stock, valued at $2,025,599.36. This represents a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.10% of the stock is owned by insiders.

Microchip Technology Stock Performance

Shares of Microchip Technology stock opened at $50.79 on Friday. The stock’s fifty day simple moving average is $55.83 and its 200 day simple moving average is $64.16. 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 company has a market capitalization of $27.32 billion, a PE ratio of 90.70 and a beta of 1.52. Microchip Technology Incorporated has a 12 month low of $49.92 and a 12 month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last released its quarterly 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%. On average, research analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were issued a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 3.58%. The ex-dividend date was Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is presently 325.00%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MCHP. The Goldman Sachs Group reduced their price target on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Raymond James reissued a “strong-buy” rating and set a $60.00 price target (down from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. Rosenblatt Securities restated a “buy” rating and issued a $70.00 price objective on shares of Microchip Technology in a research report on Tuesday, March 4th. B. Riley reiterated a “buy” rating and issued a $75.00 price objective (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Finally, KeyCorp lowered their target price on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. Two research 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $74.37.

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.