Certuity LLC Reduces Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Certuity LLC lowered its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 33.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,516 shares of the semiconductor company’s stock after selling 1,754 shares during the quarter. Certuity LLC’s holdings in Microchip Technology were worth $202,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in MCHP. Prospera Private Wealth LLC bought a new position in Microchip Technology during the third quarter worth about $29,000. Financial Life Planners purchased a new stake in shares of Microchip Technology during the 4th quarter valued at approximately $32,000. Peterson Financial Group Inc. bought a new position in Microchip Technology in the 3rd quarter worth approximately $34,000. Truvestments Capital LLC purchased a new position in Microchip Technology in the 3rd quarter valued at approximately $34,000. Finally, Wolff Wiese Magana LLC raised its holdings in Microchip Technology by 55.2% during the 3rd quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock valued at $49,000 after acquiring an additional 218 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

MCHP has been the subject of a number of analyst reports. Susquehanna cut their price target on Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, November 6th. Piper Sandler reaffirmed an “overweight” rating and set a $65.00 target price (down previously from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Mizuho lowered their price target on shares of Microchip Technology from $85.00 to $72.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Needham & Company LLC reduced their price objective on shares of Microchip Technology from $85.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Finally, Citigroup lowered their target price on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. 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 assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $77.11.

Microchip Technology Stock Performance

NASDAQ:MCHP opened at $54.26 on Friday. The company has a market capitalization of $29.14 billion, a price-to-earnings ratio of 96.89 and a beta of 1.50. The business has a 50 day moving average of $56.94 and a 200 day moving average of $69.14. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. Microchip Technology Incorporated has a 1-year low of $50.21 and a 1-year high of $100.57.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data 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 return on equity of 12.41% and a net margin of 6.49%. On average, sell-side analysts predict that Microchip Technology Incorporated will post 1.3 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be issued a $0.455 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 3.35%. Microchip Technology’s dividend payout ratio is currently 325.00%.

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.