Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP cut its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 59.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,306 shares of the semiconductor company's stock after selling 41,210 shares during the quarter. Quantbot Technologies LP's holdings in Microchip Technology were worth $1,623,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Coldstream Capital Management Inc. increased its holdings in Microchip Technology by 2.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 11,052 shares of the semiconductor company's stock worth $878,000 after buying an additional 260 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in shares of Microchip Technology by 1.8% in the 3rd quarter. EP Wealth Advisors LLC now owns 14,725 shares of the semiconductor company's stock worth $1,182,000 after buying an additional 264 shares during the last quarter. Lebenthal Global Advisors LLC grew its holdings 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 period. First Commonwealth Financial Corp PA increased its position in Microchip Technology by 2.5% during the third quarter. First Commonwealth Financial Corp PA now owns 11,342 shares of the semiconductor company's stock valued at $911,000 after acquiring an additional 279 shares during the last quarter. Finally, Elmwood Wealth Management Inc. lifted its holdings in Microchip Technology by 1.5% in the fourth quarter. Elmwood Wealth Management Inc. now owns 20,558 shares of the semiconductor company's stock valued at $1,179,000 after acquiring an additional 300 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity

In other news, CFO James Eric Bjornholt sold 3,724 shares of the business's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the completion of the transaction, the chief financial officer now directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.10% of the company's stock.

Microchip Technology Trading Down 2.3 %

Shares of NASDAQ MCHP traded down $1.19 during trading hours on Thursday, reaching $50.98. The stock had a trading volume of 1,005,202 shares, compared to its average volume of 7,027,169. The business's fifty day moving average price is $55.94 and its two-hundred day moving average price is $64.26. The firm has a market cap of $27.42 billion, a price-to-earnings ratio of 91.20 and a beta of 1.52. Microchip Technology Incorporated has a 52-week low of $49.92 and a 52-week 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.

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 12.62% and a net margin of 6.49%. Analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently announced 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. This represents a $1.82 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology's dividend payout ratio (DPR) is 325.00%.

Analyst Ratings Changes

Several equities research analysts have recently commented on MCHP shares. Rosenblatt Securities reaffirmed a "buy" rating and set a $70.00 price target on shares of Microchip Technology in a research report on Tuesday, March 4th. StockNews.com cut shares of Microchip Technology from a "hold" rating to a "sell" rating in a research note on Monday, February 10th. TD Cowen raised their target price on Microchip Technology from $50.00 to $60.00 and gave the stock a "hold" rating in a report on Tuesday, March 4th. Needham & Company LLC boosted their price target on Microchip Technology from $60.00 to $66.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Finally, Evercore ISI lifted their price objective on Microchip Technology from $65.00 to $71.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $74.37.

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.