Hennion & Walsh Asset Management Inc. Sells 6,234 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Hennion & Walsh Asset Management Inc. reduced its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 12.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,046 shares of the semiconductor company’s stock after selling 6,234 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Microchip Technology were worth $2,469,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Rovin Capital UT ADV raised its stake in Microchip Technology by 47.4% in the fourth quarter. Rovin Capital UT ADV now owns 7,160 shares of the semiconductor company’s stock worth $411,000 after buying an additional 2,303 shares in the last quarter. Godsey & Gibb Inc. increased its stake in shares of Microchip Technology by 2.8% during the fourth quarter. Godsey & Gibb Inc. now owns 257,334 shares of the semiconductor company’s stock valued at $14,758,000 after purchasing an additional 6,953 shares in the last quarter. Park Avenue Securities LLC increased its stake in shares of Microchip Technology by 31.7% during the fourth quarter. Park Avenue Securities LLC now owns 62,418 shares of the semiconductor company’s stock valued at $3,580,000 after purchasing an additional 15,041 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Microchip Technology by 9,901.6% during the fourth 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 in the last quarter. Finally, Pallas Capital Advisors LLC bought a new position in shares of Microchip Technology during the fourth quarter valued at approximately $5,917,000. 91.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MCHP has been the subject of a number of analyst reports. StockNews.com raised shares of Microchip Technology from a “sell” rating to a “hold” rating in a research note on Friday, December 13th. KeyCorp decreased their target price on shares of Microchip Technology from $90.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday. Citigroup decreased their target price on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $90.00 target price on shares of Microchip Technology in a research note on Wednesday, November 6th. Finally, Stifel Nicolaus decreased their target price on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $86.05.

Microchip Technology Trading Up 3.2 %

Shares of MCHP stock opened at $57.97 on Friday. The firm’s 50 day moving average is $61.11 and its 200 day moving average is $73.84. The stock has a market capitalization of $31.13 billion, a P/E ratio of 40.54 and a beta of 1.52. Microchip Technology Incorporated has a 12-month low of $54.47 and a 12-month high of $100.57. 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 (NASDAQ:MCHP) last issued its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The company’s revenue was down 48.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.54 EPS. Research analysts expect that Microchip Technology Incorporated will post 1.32 earnings per share for the current year.

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend was Friday, November 22nd. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio (DPR) is currently 127.27%.

Microchip Technology Company 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.