Atria Investments Inc Sells 13,677 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Atria Investments Inc lowered its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 18.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 59,637 shares of the semiconductor company's stock after selling 13,677 shares during the quarter. Atria Investments Inc's holdings in Microchip Technology were worth $3,420,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Van ECK Associates Corp increased its position in Microchip Technology by 39.3% in the 4th quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company's stock valued at $636,184,000 after acquiring an additional 3,131,807 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Microchip Technology by 9,901.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company's stock worth $163,886,000 after buying an additional 2,829,082 shares in the last quarter. Franklin Resources Inc. boosted its position in Microchip Technology by 30.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company's stock valued at $264,430,000 after buying an additional 776,408 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Microchip Technology by 20.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,751,987 shares of the semiconductor company's stock valued at $220,957,000 after buying an additional 460,697 shares during the period. Finally, DF Dent & Co. Inc. acquired a new stake in shares of Microchip Technology in the 3rd quarter valued at $27,744,000. Institutional investors own 91.51% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. TD Cowen raised their price target on Microchip Technology from $50.00 to $60.00 and gave the company a "hold" rating in a report on Tuesday, March 4th. Rosenblatt Securities reissued a "buy" rating and set a $70.00 price target on shares of Microchip Technology in a research note on Tuesday, March 4th. Evercore ISI increased their price objective on shares of Microchip Technology from $65.00 to $71.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. StockNews.com lowered shares of Microchip Technology from a "hold" rating to a "sell" rating in a report on Monday, February 10th. Finally, KeyCorp cut their price target on Microchip Technology from $70.00 to $60.00 and set an "overweight" rating on the stock in a research note on Friday, February 7th. Two equities research 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 company's stock. According to MarketBeat.com, Microchip Technology has an average rating of "Moderate Buy" and a consensus target price of $74.37.

Microchip Technology Stock Down 0.6 %

MCHP traded down $0.33 during trading on Wednesday, reaching $51.91. The company had a trading volume of 4,236,575 shares, compared to its average volume of 10,021,738. The company has a market cap of $27.92 billion, a P/E ratio of 92.70 and a beta of 1.52. Microchip Technology Incorporated has a 12 month low of $50.21 and a 12 month high of $100.57. 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's fifty day moving average price is $56.80 and its 200 day moving average price is $66.17.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 EPS 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%. Equities analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend was Monday, February 24th. 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 Microchip Technology stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.10% of the stock is owned by 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.