Bouchey Financial Group Ltd Decreases Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Bouchey Financial Group Ltd trimmed its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 6.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,604 shares of the semiconductor company’s stock after selling 241 shares during the quarter. Bouchey Financial Group Ltd’s holdings in Microchip Technology were worth $207,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of MCHP. Generali Investments Towarzystwo Funduszy Inwestycyjnych grew its stake in shares of Microchip Technology by 96.4% in the fourth quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 48,900 shares of the semiconductor company’s stock worth $2,804,000 after acquiring an additional 24,000 shares in the last quarter. Versor Investments LP purchased a new stake in shares of Microchip Technology in the fourth quarter valued at about $368,000. Proficio Capital Partners LLC purchased a new stake in shares of Microchip Technology in the fourth quarter valued at about $3,818,000. Mn Services Vermogensbeheer B.V. raised its holdings in shares of Microchip Technology by 1.7% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 210,900 shares of the semiconductor company’s stock valued at $12,095,000 after buying an additional 3,500 shares during the last quarter. Finally, New York Life Investment Management LLC raised its holdings in shares of Microchip Technology by 0.8% in the fourth quarter. New York Life Investment Management LLC now owns 72,109 shares of the semiconductor company’s stock valued at $4,135,000 after buying an additional 596 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Price Performance

Shares of MCHP stock opened at $57.12 on Friday. The firm has a market cap of $30.72 billion, a P/E ratio of 102.00 and a beta of 1.50. 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 1-year low of $50.21 and a 1-year high of $100.57. The firm has a fifty day moving average of $56.87 and a two-hundred day moving average of $67.64.

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 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, research analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be given a $0.455 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.19%. Microchip Technology’s dividend payout ratio is presently 325.00%.

Insider Activity at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the sale, the chief financial officer now directly owns 33,272 shares in the company, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MCHP. Mizuho cut their price target on shares of Microchip Technology from $85.00 to $72.00 and set an “outperform” rating for the company in a report on Friday, January 10th. The Goldman Sachs Group lowered their target price 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 restated a “strong-buy” rating and set a $60.00 target price (down from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. KeyCorp lowered their target price on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Finally, StockNews.com lowered shares of Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Microchip Technology has an average rating of “Moderate Buy” and a consensus price target of $77.11.

About Microchip Technology

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.