Brown Brothers Harriman & Co. Has $1.04 Million Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Brown Brothers Harriman & Co. decreased its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 7.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,100 shares of the semiconductor company’s stock after selling 1,554 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Microchip Technology were worth $1,038,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Coldstream Capital Management Inc. raised its position in shares of Microchip Technology by 2.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 11,052 shares of the semiconductor company’s stock valued at $878,000 after acquiring an additional 260 shares during the period. EP Wealth Advisors LLC increased its stake in Microchip Technology by 1.8% in the third quarter. EP Wealth Advisors LLC now owns 14,725 shares of the semiconductor company’s stock valued at $1,182,000 after purchasing an additional 264 shares in the last quarter. Lebenthal Global Advisors LLC raised its holdings in Microchip Technology by 7.3% in the fourth quarter. Lebenthal Global Advisors LLC now owns 3,894 shares of the semiconductor company’s stock worth $223,000 after purchasing an additional 266 shares during the period. Elmwood Wealth Management Inc. boosted its position in shares of Microchip Technology by 1.5% during the fourth quarter. Elmwood Wealth Management Inc. now owns 20,558 shares of the semiconductor company’s stock worth $1,179,000 after purchasing an additional 300 shares in the last quarter. Finally, Stratos Wealth Partners LTD. grew its holdings in shares of Microchip Technology by 7.4% in the 4th quarter. Stratos Wealth Partners LTD. now owns 4,680 shares of the semiconductor company’s stock valued at $268,000 after buying an additional 321 shares during the period. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Price Performance

Shares of NASDAQ MCHP opened at $48.70 on Monday. 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 moving average of $55.65 and a 200-day moving average of $63.80. The stock has a market capitalization of $26.19 billion, a price-to-earnings ratio of 86.96 and a beta of 1.52. Microchip Technology Incorporated has a fifty-two week low of $48.27 and a fifty-two week high of $100.57.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share 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%. As a group, sell-side analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Morgan Stanley dropped their price objective on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Raymond James reaffirmed 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. B. Riley reissued a “buy” rating and set a $75.00 target price (down from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $65.00 price target (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Finally, Bank of America cut shares of Microchip Technology from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $80.00 to $65.00 in a report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $74.37.

Insider Buying and Selling 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 sale, the chief financial officer now owns 33,272 shares in the company, 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 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.