Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Keybank National Association OH

Keybank National Association OH reduced its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 47.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,301 shares of the semiconductor company's stock after selling 12,010 shares during the quarter. Keybank National Association OH's holdings in Microchip Technology were worth $763,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC purchased a new stake in Microchip Technology during the 4th quarter valued at about $26,000. Prospera Private Wealth LLC acquired a new stake in Microchip Technology during the third quarter worth about $29,000. Financial Life Planners acquired a new stake in Microchip Technology during the fourth quarter worth about $32,000. Peterson Financial Group Inc. acquired a new position in Microchip Technology in the 3rd quarter valued at about $34,000. Finally, Truvestments Capital LLC purchased a new stake in shares of Microchip Technology in the 3rd quarter valued at approximately $34,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MCHP shares. TD Cowen increased their price objective on Microchip Technology from $50.00 to $60.00 and gave the stock a "hold" rating in a research report on Tuesday, March 4th. Raymond James reiterated a "strong-buy" rating and set a $60.00 price target (down from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. B. Riley restated a "buy" rating and issued a $75.00 price objective (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. KeyCorp lowered their target price on shares of Microchip Technology from $70.00 to $60.00 and set an "overweight" rating for the company in a research note on Friday, February 7th. Finally, Needham & Company LLC boosted their price target on shares of Microchip Technology from $60.00 to $66.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Microchip Technology currently has a consensus rating of "Moderate Buy" and an average price target of $74.37.

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Microchip Technology Stock Down 0.7 %

Shares of Microchip Technology stock traded down $0.34 on Wednesday, reaching $51.90. 3,652,505 shares of the company were exchanged, compared to its average volume of 10,017,062. The stock's 50 day moving average price is $56.80 and its 200-day moving average price is $66.17. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. Microchip Technology Incorporated has a 1-year low of $50.21 and a 1-year high of $100.57. The company has a market cap of $27.91 billion, a P/E ratio of 92.69 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS 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%. As a group, equities analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date was Monday, February 24th. Microchip Technology's dividend payout ratio (DPR) is 325.00%.

Insider Transactions at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of the business's stock in a transaction that occurred 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 sale, the chief financial officer now owns 33,272 shares in the company, valued at $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.10% of the company's stock.

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.