Advisory Services Network LLC Has $1.25 Million Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Advisory Services Network LLC trimmed its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 52.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,817 shares of the semiconductor company’s stock after selling 24,209 shares during the quarter. Advisory Services Network LLC’s holdings in Microchip Technology were worth $1,251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Mainstream Capital Management LLC acquired a new position in Microchip Technology in the fourth quarter valued at approximately $26,000. Rakuten Securities Inc. lifted its position in shares of Microchip Technology by 309.5% during the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 359 shares during the period. OFI Invest Asset Management acquired a new position in shares of Microchip Technology during the 4th quarter valued at $29,000. Financial Life Planners bought a new position in Microchip Technology during the fourth quarter worth $32,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in Microchip Technology in the fourth quarter worth $34,000. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Price Performance

Shares of NASDAQ MCHP opened at $38.71 on Friday. 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 fifty day simple moving average of $52.13 and a two-hundred day simple moving average of $61.03. Microchip Technology Incorporated has a 1-year low of $34.13 and a 1-year high of $100.57. The firm has a market cap of $20.82 billion, a price-to-earnings ratio of 69.13 and a beta of 1.51.

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 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%. Analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were given a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 4.70%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is currently 325.00%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Needham & Company LLC boosted their target price on Microchip Technology from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. The Goldman Sachs Group reduced their price objective on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. B. Riley reaffirmed a “buy” rating and set a $75.00 target price (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Bank of America downgraded 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 research report on Monday, December 16th. Finally, StockNews.com downgraded shares of Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.68.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of the business’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 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 document filed with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by corporate insiders.

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.