Chevy Chase Trust Holdings LLC Sells 7,310 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Chevy Chase Trust Holdings LLC decreased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 283,431 shares of the semiconductor company's stock after selling 7,310 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Microchip Technology worth $16,255,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MCHP. Creative Planning lifted its position in shares of Microchip Technology by 0.6% in the 3rd quarter. Creative Planning now owns 116,549 shares of the semiconductor company's stock worth $9,358,000 after purchasing an additional 719 shares during the period. Swedbank AB lifted its holdings in Microchip Technology by 62.3% in the third quarter. Swedbank AB now owns 34,885 shares of the semiconductor company's stock valued at $2,801,000 after buying an additional 13,392 shares during the period. nVerses Capital LLC bought a new stake in Microchip Technology during the third quarter valued at $104,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Microchip Technology by 1.1% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 58,900 shares of the semiconductor company's stock worth $4,729,000 after acquiring an additional 627 shares during the period. Finally, V Square Quantitative Management LLC raised its position in shares of Microchip Technology by 50.9% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,930 shares of the semiconductor company's stock worth $316,000 after acquiring an additional 1,326 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Microchip Technology Stock Performance

Shares of MCHP stock traded up $5.73 during trading on Wednesday, reaching $63.59. 20,791,579 shares of the company's stock traded hands, compared to its average volume of 9,384,700. Microchip Technology Incorporated has a 1 year low of $50.21 and a 1 year high of $100.57. 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 capitalization of $34.20 billion, a P/E ratio of 113.55 and a beta of 1.50. The firm's 50-day moving average is $56.58 and its 200 day moving average is $68.22.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted 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 return on equity of 12.62% and a net margin of 6.49%. Equities research analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current 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 issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Monday, February 24th. Microchip Technology's payout ratio is 325.00%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MCHP. TD Cowen cut their target price on Microchip Technology from $80.00 to $70.00 and set a "hold" rating on the stock in a research report on Wednesday, November 6th. Evercore ISI restated 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. Rosenblatt Securities restated a "buy" rating and set a $90.00 target price on shares of Microchip Technology in a research report on Thursday, February 6th. Stifel Nicolaus cut their target price on Microchip Technology from $90.00 to $87.00 and set a "buy" rating on the stock in a research report on Tuesday, December 3rd. Finally, StockNews.com lowered Microchip Technology from a "hold" rating to a "sell" rating in a research report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Microchip Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $77.11.

Microchip Technology 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.