Wilmington Savings Fund Society FSB Sells 5,491 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Wilmington Savings Fund Society FSB lowered its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 9.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 54,903 shares of the semiconductor company's stock after selling 5,491 shares during the period. Wilmington Savings Fund Society FSB's holdings in Microchip Technology were worth $3,149,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its stake in Microchip Technology by 25.1% in the third quarter. Van ECK Associates Corp now owns 7,961,200 shares of the semiconductor company's stock valued at $599,239,000 after acquiring an additional 1,597,263 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Microchip Technology by 30.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company's stock valued at $264,430,000 after acquiring an additional 776,408 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Microchip Technology by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,026,946 shares of the semiconductor company's stock worth $243,034,000 after buying an additional 25,872 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Microchip Technology by 9,901.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company's stock valued at $163,886,000 after purchasing an additional 2,829,082 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Microchip Technology by 20.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,751,987 shares of the semiconductor company's stock valued at $220,957,000 after purchasing an additional 460,697 shares during the period. Institutional investors and hedge funds own 91.51% of the company's stock.

Microchip Technology Price Performance

Shares of NASDAQ:MCHP traded up $1.27 on Wednesday, hitting $53.85. The company had a trading volume of 8,082,562 shares, compared to its average volume of 9,081,566. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71. Microchip Technology Incorporated has a 52-week low of $50.21 and a 52-week high of $100.57. The business has a 50 day moving average of $57.09 and a 200 day moving average of $69.25. The company has a market cap of $28.96 billion, a PE ratio of 96.16 and a beta of 1.50.

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 analysts' consensus estimates of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.41%. As a group, equities analysts anticipate that Microchip Technology Incorporated will post 1.3 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be given a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Monday, February 24th. Microchip Technology's dividend payout ratio is currently 325.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MCHP shares. Morgan Stanley decreased 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 research report on Tuesday, February 4th. TD Cowen reduced their target price on shares of Microchip Technology from $80.00 to $70.00 and set a "hold" rating for the company in a research note on Wednesday, November 6th. Rosenblatt Securities reaffirmed a "buy" rating and set a $90.00 price objective on shares of Microchip Technology in a research note on Thursday, February 6th. The Goldman Sachs Group lowered their price objective on shares of Microchip Technology from $72.00 to $63.00 and set a "neutral" rating for the company in a report on Friday, January 10th. Finally, StockNews.com lowered shares of Microchip Technology from a "hold" rating to a "sell" rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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.