Atria Wealth Solutions Inc. Sells 10,207 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Atria Wealth Solutions Inc. decreased its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 70.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,215 shares of the semiconductor company's stock after selling 10,207 shares during the period. Atria Wealth Solutions Inc.'s holdings in Microchip Technology were worth $242,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of MCHP. Prospera Private Wealth LLC bought a new stake in shares of Microchip Technology during the third quarter worth about $29,000. Financial Life Planners acquired a new position in Microchip Technology during the 4th quarter valued at about $32,000. Peterson Financial Group Inc. acquired a new position in Microchip Technology during the 3rd quarter valued at about $34,000. Truvestments Capital LLC bought a new stake in Microchip Technology during the 3rd quarter worth approximately $34,000. Finally, Hobbs Group Advisors LLC raised its stake in shares of Microchip Technology by 390.6% in the third quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company's stock worth $50,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Evercore ISI reiterated an "outperform" rating and set a $95.00 price target (down previously from $101.00) on shares of Microchip Technology in a report on Wednesday, November 6th. StockNews.com lowered shares of Microchip Technology from a "hold" rating to a "sell" rating in a research note on Monday, February 10th. Jefferies Financial Group dropped their price target on shares of Microchip Technology from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. Morgan Stanley reduced their price objective on shares of Microchip Technology from $71.00 to $58.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. Finally, B. Riley reissued a "buy" rating and set a $75.00 target price (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. 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.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $77.11.

Microchip Technology Stock Performance

Microchip Technology stock traded down $0.91 during midday trading on Monday, reaching $57.95. The stock had a trading volume of 19,505,898 shares, compared to its average volume of 10,014,030. The firm has a market capitalization of $31.17 billion, a PE ratio of 103.48 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. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. The firm's 50-day moving average price is $56.94 and its 200 day moving average price is $67.20.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly 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 predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

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 issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Monday, February 24th. Microchip Technology's payout ratio is currently 325.00%.

Insider Buying and Selling

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 shares were 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 of the company's stock, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is currently owned by insiders.

About Microchip Technology

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.