Coho Partners Ltd. lowered its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 16.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,206,822 shares of the semiconductor company's stock after selling 236,322 shares during the quarter. Microchip Technology comprises 3.2% of Coho Partners Ltd.'s investment portfolio, making the stock its 15th biggest holding. Coho Partners Ltd. owned about 0.22% of Microchip Technology worth $69,211,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of MCHP. Pallas Capital Advisors LLC bought a new position in Microchip Technology during the fourth quarter worth $5,917,000. Consolidated Planning Corp bought a new position in shares of Microchip Technology during the 4th quarter worth about $308,000. Quadrature Capital Ltd bought a new position in shares of Microchip Technology during the 3rd quarter worth about $3,312,000. Symphony Financial Ltd. Co. acquired a new stake in shares of Microchip Technology in the 4th quarter valued at about $520,000. Finally, Benjamin Edwards Inc. increased its position in Microchip Technology by 5,185.4% in the 3rd quarter. Benjamin Edwards Inc. now owns 9,408 shares of the semiconductor company's stock valued at $755,000 after buying an additional 9,230 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.
Microchip Technology Stock Performance
Shares of Microchip Technology stock traded up $2.10 during trading hours on Tuesday, hitting $57.86. 11,320,618 shares of the company's stock traded hands, compared to its average volume of 9,016,836. The company has a fifty day simple moving average of $56.66 and a 200-day simple moving average of $68.35. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. The stock has a market capitalization of $31.07 billion, a price-to-earnings ratio of 103.32 and a beta of 1.50. Microchip Technology Incorporated has a 12-month low of $50.21 and a 12-month high of $100.57.
Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) 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%. Equities research analysts anticipate that Microchip Technology Incorporated will post 1.3 EPS for the current fiscal year.
Microchip Technology Dividend Announcement
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 paid a $0.455 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.15%. Microchip Technology's payout ratio is 325.00%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on MCHP shares. StockNews.com cut Microchip Technology from a "hold" rating to a "sell" rating in a research note on Monday, February 10th. The Goldman Sachs Group reduced 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 dropped their price objective for the company from $80.00 to $65.00 in a research note on Monday, December 16th. Citigroup reduced their price objective on shares of Microchip Technology from $92.00 to $82.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Finally, Jefferies Financial Group lowered their target price on shares of Microchip Technology from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. Two equities 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 given a strong buy rating to the stock. According to MarketBeat.com, Microchip Technology presently has an average rating of "Moderate Buy" and an average target price of $77.11.
View Our Latest Analysis on MCHP
Microchip Technology Company Profile
(
Free Report)
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.
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