Horizon Investments LLC Reduces Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Horizon Investments LLC decreased its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 39.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,064 shares of the semiconductor company's stock after selling 9,645 shares during the period. Horizon Investments LLC's holdings in Microchip Technology were worth $864,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of MCHP. Mainstream Capital Management LLC acquired a new position in shares of Microchip Technology in the 4th quarter valued at about $26,000. Rakuten Securities Inc. lifted its stake in Microchip Technology by 309.5% in the fourth quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company's stock valued at $27,000 after buying an additional 359 shares during the period. Prospera Private Wealth LLC bought a new position in shares of Microchip Technology during the 3rd quarter worth approximately $29,000. OFI Invest Asset Management acquired a new stake in shares of Microchip Technology during the 4th quarter worth approximately $29,000. Finally, Financial Life Planners bought a new stake in shares of Microchip Technology in the 4th quarter valued at $32,000. Institutional investors own 91.51% of the company's stock.

Microchip Technology Stock Performance

Shares of MCHP stock traded up $2.17 during trading on Monday, hitting $53.89. The company's stock had a trading volume of 12,894,112 shares, compared to its average volume of 7,038,734. 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 company has a market cap of $28.98 billion, a PE ratio of 96.23 and a beta of 1.52. The business has a fifty day moving average of $56.17 and a 200-day moving average of $64.66. Microchip Technology Incorporated has a 52 week low of $49.92 and a 52 week high of $100.57.

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Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. As a group, research analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology's dividend payout ratio is currently 325.00%.

Analyst Ratings Changes

MCHP has been the topic of several research analyst reports. TD Cowen increased their target price on shares of Microchip Technology from $50.00 to $60.00 and gave the stock a "hold" rating in a research note on Tuesday, March 4th. Stifel Nicolaus reduced their target price on Microchip Technology from $90.00 to $87.00 and set a "buy" rating for the company in a research note on Tuesday, December 3rd. The Goldman Sachs Group dropped their price target on Microchip Technology from $72.00 to $63.00 and set a "neutral" rating on the stock in a research note on Friday, January 10th. Morgan Stanley reduced their price objective on Microchip Technology from $71.00 to $58.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. Finally, Evercore ISI upped their target price on Microchip Technology from $65.00 to $71.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $74.37.

Insider Transactions at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of the 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 completion of the transaction, the chief financial officer now owns 33,272 shares in the company, valued at approximately $2,025,599.36. This represents a 10.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by company insiders.

Microchip Technology Company 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.