Gladstone Institutional Advisory LLC Trims Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Gladstone Institutional Advisory LLC lowered its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 27.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 10,566 shares of the semiconductor company’s stock after selling 3,973 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Microchip Technology were worth $606,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Prospera Private Wealth LLC purchased a new position in shares of Microchip Technology during the 3rd quarter valued at $29,000. Financial Life Planners purchased a new position in shares of Microchip Technology in the fourth quarter valued at about $32,000. Peterson Financial Group Inc. bought a new position in shares of Microchip Technology in the third quarter worth about $34,000. Truvestments Capital LLC bought a new position in shares of Microchip Technology in the third quarter worth about $34,000. Finally, Hobbs Group Advisors LLC grew its position in shares of Microchip Technology by 390.6% during the third quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 500 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Price Performance

Shares of MCHP stock opened at $55.76 on Friday. The stock has a 50 day moving average price of $56.86 and a 200 day moving average price of $69.04. The firm has a market capitalization of $29.94 billion, a P/E ratio of 99.57 and a beta of 1.50. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88. Microchip Technology Incorporated has a 52-week low of $50.21 and a 52-week high of $100.57.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly 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%. As a group, sell-side analysts predict that Microchip Technology Incorporated will post 1.3 earnings per share for the current year.

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be paid a $0.455 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.26%. Microchip Technology’s dividend payout ratio (DPR) is currently 325.00%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. The Goldman Sachs Group dropped their price target on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Bank of America cut shares of Microchip Technology from a “neutral” rating to an “underperform” rating and cut their target price for the company from $80.00 to $65.00 in a research note on Monday, December 16th. Evercore ISI reiterated an “outperform” rating and issued a $95.00 price target (down previously from $101.00) on shares of Microchip Technology in a research note on Wednesday, November 6th. Citigroup cut their price objective on Microchip Technology from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, Susquehanna decreased their target price on Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.11.

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.