Nations Financial Group Inc. IA ADV Sells 22,803 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Nations Financial Group Inc. IA ADV decreased its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 80.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,676 shares of the semiconductor company's stock after selling 22,803 shares during the quarter. Nations Financial Group Inc. IA ADV's holdings in Microchip Technology were worth $326,000 at the end of the most recent reporting period.

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

Microchip Technology Price Performance

NASDAQ:MCHP traded down $3.23 during trading hours on Friday, reaching $61.07. 13,460,786 shares of the company were exchanged, compared to its average volume of 9,654,669. The company has a market capitalization of $32.84 billion, a P/E ratio of 109.05 and a beta of 1.50. Microchip Technology Incorporated has a 1-year low of $50.21 and a 1-year high of $100.57. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The business has a 50 day moving average of $56.68 and a 200 day moving average of $68.16.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. Research analysts forecast 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. Investors of record on Monday, February 24th will be given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Monday, February 24th. Microchip Technology's dividend payout ratio is currently 325.00%.

Analyst Ratings Changes

Several brokerages have recently weighed in on MCHP. Piper Sandler restated an "overweight" rating and issued a $65.00 price objective (down previously from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Raymond James reiterated a "strong-buy" rating and set a $60.00 price target (down previously from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. Bank of America cut Microchip Technology from a "neutral" rating to an "underperform" rating and reduced their price target for the stock from $80.00 to $65.00 in a report on Monday, December 16th. TD Cowen reduced their price target on Microchip Technology from $80.00 to $70.00 and set a "hold" rating for the company in a report on Wednesday, November 6th. Finally, StockNews.com cut Microchip Technology from a "hold" rating to a "sell" rating in a report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $77.11.

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.