Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Stephens Inc. AR

Stephens Inc. AR decreased its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 78.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,669 shares of the semiconductor company's stock after selling 95,064 shares during the period. Stephens Inc. AR's holdings in Microchip Technology were worth $1,472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Corundum Group Inc. boosted its holdings in Microchip Technology by 3.4% in the 3rd quarter. Corundum Group Inc. now owns 4,315 shares of the semiconductor company's stock worth $346,000 after buying an additional 143 shares during the period. Financial Advocates Investment Management boosted its holdings in Microchip Technology by 1.5% in the 3rd quarter. Financial Advocates Investment Management now owns 10,795 shares of the semiconductor company's stock worth $867,000 after buying an additional 158 shares during the period. Metis Global Partners LLC boosted its holdings in Microchip Technology by 1.0% in the 3rd quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company's stock worth $1,378,000 after buying an additional 172 shares during the period. Americana Partners LLC boosted its holdings in Microchip Technology by 5.5% in the 3rd quarter. Americana Partners LLC now owns 3,441 shares of the semiconductor company's stock worth $276,000 after buying an additional 179 shares during the period. Finally, Plato Investment Management Ltd boosted its holdings in Microchip Technology by 5.8% in the 3rd quarter. Plato Investment Management Ltd now owns 3,499 shares of the semiconductor company's stock worth $281,000 after buying an additional 191 shares during the period. Institutional investors own 91.51% of the company's stock.

Microchip Technology Trading Up 2.8 %

MCHP stock traded up $1.50 during mid-day trading on Friday, reaching $55.76. The company had a trading volume of 7,122,783 shares, compared to its average volume of 8,621,112. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. The company has a market capitalization of $29.94 billion, a PE ratio of 99.57 and a beta of 1.50. The firm has a 50 day moving average of $56.79 and a 200 day moving average of $68.69. Microchip Technology Incorporated has a 12 month low of $50.21 and a 12 month high of $100.57.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.41% and a net margin of 6.49%. On average, equities analysts predict that Microchip Technology Incorporated will post 1.3 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Monday, February 24th will be paid a $0.455 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a yield of 3.26%. Microchip Technology's dividend payout ratio is currently 325.00%.

Analyst Ratings Changes

Several brokerages recently weighed in on MCHP. Rosenblatt Securities reaffirmed a "buy" rating and issued a $90.00 target price on shares of Microchip Technology in a report on Thursday, February 6th. TD Cowen dropped their price objective on shares of Microchip Technology from $80.00 to $70.00 and set a "hold" rating for the company in a report on Wednesday, November 6th. Raymond James reissued a "strong-buy" rating and set a $60.00 price objective (down previously from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. Morgan Stanley dropped 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 report on Tuesday, February 4th. Finally, Bank of America downgraded shares of Microchip Technology from a "neutral" rating to an "underperform" rating and dropped their price objective for the company from $80.00 to $65.00 in a report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price 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.