Farther Finance Advisors LLC Has $170,000 Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Farther Finance Advisors LLC lessened its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 62.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,972 shares of the semiconductor company's stock after selling 4,977 shares during the period. Farther Finance Advisors LLC's holdings in Microchip Technology were worth $170,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Coldstream Capital Management Inc. grew its holdings in Microchip Technology by 2.4% during the third quarter. Coldstream Capital Management Inc. now owns 11,052 shares of the semiconductor company's stock valued at $878,000 after purchasing an additional 260 shares during the last quarter. EP Wealth Advisors LLC grew its stake in shares of Microchip Technology by 1.8% in the third quarter. EP Wealth Advisors LLC now owns 14,725 shares of the semiconductor company's stock worth $1,182,000 after acquiring an additional 264 shares during the last quarter. Lebenthal Global Advisors LLC grew its stake in shares of Microchip Technology by 7.3% in the fourth quarter. Lebenthal Global Advisors LLC now owns 3,894 shares of the semiconductor company's stock worth $223,000 after acquiring an additional 266 shares during the last quarter. Leelyn Smith LLC grew its stake in shares of Microchip Technology by 2.2% in the third quarter. Leelyn Smith LLC now owns 12,401 shares of the semiconductor company's stock worth $996,000 after acquiring an additional 268 shares during the last quarter. Finally, First Commonwealth Financial Corp PA grew its stake in shares of Microchip Technology by 2.5% in the third quarter. First Commonwealth Financial Corp PA now owns 11,342 shares of the semiconductor company's stock worth $911,000 after acquiring an additional 279 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

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Insider Activity

In other news, CFO James Eric Bjornholt sold 3,724 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the sale, the chief financial officer now directly owns 33,272 shares of the company's stock, valued at approximately $2,025,599.36. This represents a 10.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MCHP has been the topic of several research analyst reports. Raymond James restated a "strong-buy" rating and issued a $60.00 price objective (down previously from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. Morgan Stanley lowered their price objective on shares of Microchip Technology from $71.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. B. Riley restated a "buy" rating and issued a $75.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Needham & Company LLC raised their price objective on shares of Microchip Technology from $60.00 to $66.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Finally, Evercore ISI boosted their price target on shares of Microchip Technology from $65.00 to $71.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $74.37.

Microchip Technology Trading Up 1.4 %

MCHP traded up $0.72 during trading on Friday, reaching $51.72. 29,769,902 shares of the company's stock were exchanged, compared to its average volume of 7,015,224. The company's fifty day moving average price is $56.17 and its 200-day moving average price is $64.74. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. Microchip Technology Incorporated has a fifty-two week low of $49.92 and a fifty-two week high of $100.57. The firm has a market capitalization of $27.82 billion, a PE ratio of 92.36 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced 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, equities analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were given a dividend of $0.455 per share. The ex-dividend date was Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.52%. Microchip Technology's dividend payout ratio (DPR) is presently 325.00%.

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.