Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Transamerica Financial Advisors Inc.

Transamerica Financial Advisors Inc. reduced its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 10.0% in the 4th quarter, Holdings Channel reports. The firm owned 2,170 shares of the semiconductor company’s stock after selling 241 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Microchip Technology were worth $125,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

MCHP has been the subject of a number of analyst reports. Evercore ISI increased their price target on Microchip Technology from $65.00 to $71.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. Rosenblatt Securities reiterated a “buy” rating and set a $70.00 target price on shares of Microchip Technology in a research note on Tuesday, March 4th. Raymond James restated a “strong-buy” rating and issued a $60.00 price target (down previously from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. Bank of America downgraded shares of Microchip Technology from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $80.00 to $65.00 in a research note on Monday, December 16th. Finally, The Goldman Sachs Group dropped their target price 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. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $74.37.

Microchip Technology Trading Down 4.1 %

NASDAQ:MCHP opened at $48.70 on Friday. Microchip Technology Incorporated has a 12-month low of $48.27 and a 12-month high of $100.57. 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 business has a 50 day simple moving average of $55.65 and a 200 day simple moving average of $63.90. The firm has a market capitalization of $26.19 billion, a P/E ratio of 86.96 and a beta of 1.52.

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

Microchip Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were paid a $0.455 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 3.74%. Microchip Technology’s payout ratio is currently 325.00%.

Insider Activity

In other news, CFO James Eric Bjornholt sold 3,724 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total transaction of $226,717.12. Following the transaction, the chief financial officer now directly owns 33,272 shares of the company’s stock, valued at approximately $2,025,599.36. This trade represents a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.10% of the company’s stock.

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.