Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC decreased its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 91.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,540 shares of the semiconductor company's stock after selling 100,181 shares during the quarter. Kingsview Wealth Management LLC's holdings in Microchip Technology were worth $547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Vest Financial LLC increased its stake in Microchip Technology by 68.3% in the 4th quarter. Vest Financial LLC now owns 12,081 shares of the semiconductor company's stock worth $693,000 after acquiring an additional 4,903 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Microchip Technology by 13.2% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 66,680 shares of the semiconductor company's stock worth $3,824,000 after acquiring an additional 7,780 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Microchip Technology by 1.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,144,811 shares of the semiconductor company's stock worth $123,005,000 after acquiring an additional 25,451 shares during the last quarter. Buck Wealth Strategies LLC increased its stake in Microchip Technology by 78.2% in the 4th quarter. Buck Wealth Strategies LLC now owns 117,245 shares of the semiconductor company's stock worth $6,724,000 after acquiring an additional 51,448 shares during the last quarter. Finally, Financial Advocates Investment Management increased its position in shares of Microchip Technology by 9.4% during the 4th quarter. Financial Advocates Investment Management now owns 11,807 shares of the semiconductor company's stock valued at $677,000 after purchasing an additional 1,012 shares during the last quarter. Institutional investors own 91.51% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on MCHP. Jefferies Financial Group cut their target price on Microchip Technology from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. Raymond James reissued a "strong-buy" rating and set a $60.00 target price (down previously from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. Evercore ISI reissued an "outperform" rating and set a $95.00 target price (down previously from $101.00) on shares of Microchip Technology in a research report on Wednesday, November 6th. The Goldman Sachs Group cut their target price on Microchip Technology from $72.00 to $63.00 and set a "neutral" rating on the stock in a research report on Friday, January 10th. Finally, Piper Sandler reissued an "overweight" rating and set a $65.00 target price (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Two 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $77.11.

Microchip Technology Stock Up 2.8 %

Shares of MCHP stock traded up $1.50 during mid-day trading on Friday, hitting $55.76. The stock had a trading volume of 7,122,783 shares, compared to its average volume of 8,621,112. Microchip Technology Incorporated has a 12-month low of $50.21 and a 12-month high of $100.57. The firm has a market capitalization of $29.94 billion, a P/E ratio of 99.57 and a beta of 1.50. The firm's 50-day moving average is $56.79 and its two-hundred day moving average is $68.69. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its 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 12.41% and a net margin of 6.49%. On average, analysts predict that Microchip Technology Incorporated will post 1.3 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be given a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Monday, February 24th. Microchip Technology's payout ratio is 325.00%.

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.