Atlas Capital Advisors Inc. Sells 3,046 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Atlas Capital Advisors Inc. reduced its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 87.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 457 shares of the semiconductor company’s stock after selling 3,046 shares during the quarter. Atlas Capital Advisors Inc.’s holdings in Microchip Technology were worth $26,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology 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 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MCHP shares. Rosenblatt Securities restated a “buy” rating and set a $70.00 price target on shares of Microchip Technology in a report on Tuesday, March 4th. The Goldman Sachs Group decreased their price target 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. Bank of America lowered shares of Microchip Technology from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $80.00 to $65.00 in a report on Monday, December 16th. Morgan Stanley decreased their price objective on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $60.00 target price (down from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $74.37.

Microchip Technology Trading Down 11.0 %

NASDAQ:MCHP opened at $36.22 on Friday. Microchip Technology Incorporated has a 12 month low of $36.10 and a 12 month high of $100.57. 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 stock has a market capitalization of $19.48 billion, a price-to-earnings ratio of 64.68 and a beta of 1.51. The firm has a fifty day simple moving average of $54.29 and a two-hundred day simple moving average of $62.76.

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 return on equity of 12.62% and a net margin of 6.49%. Analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were given a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 5.02%. The ex-dividend date was Monday, February 24th. Microchip Technology’s payout ratio is currently 325.00%.

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.