Wrapmanager Inc. Trims Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Wrapmanager Inc. decreased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 15.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,763 shares of the semiconductor company’s stock after selling 708 shares during the quarter. Wrapmanager Inc.’s holdings in Microchip Technology were worth $216,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Prospera Private Wealth LLC purchased a new stake in Microchip Technology in the 3rd quarter valued at $29,000. Financial Life Planners purchased a new stake in Microchip Technology in the 4th quarter valued at $32,000. Peterson Financial Group Inc. purchased a new stake in Microchip Technology in the 3rd quarter valued at $34,000. Truvestments Capital LLC purchased a new stake in Microchip Technology in the 3rd quarter valued at $34,000. Finally, Hobbs Group Advisors LLC raised its position in Microchip Technology by 390.6% in the 3rd quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MCHP shares. KeyCorp reduced their price target on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. B. Riley reissued a “buy” rating and issued a $75.00 price objective (down from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Stifel Nicolaus dropped their price objective on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, December 3rd. Raymond James reissued a “strong-buy” rating and issued a $60.00 price objective (down from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. Finally, Needham & Company LLC dropped their price objective on shares of Microchip Technology from $85.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Two 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $77.11.

Microchip Technology Stock Performance

NASDAQ:MCHP opened at $60.19 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. Microchip Technology Incorporated has a fifty-two week low of $50.21 and a fifty-two week high of $100.57. The stock has a market cap of $32.37 billion, a PE ratio of 107.48 and a beta of 1.50. The firm’s fifty day simple moving average is $56.78 and its 200-day simple moving average is $67.77.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data 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 net margin of 6.49% and a return on equity of 12.62%. Analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The firm 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 of this dividend is Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a yield of 3.02%. Microchip Technology’s payout ratio is 325.00%.

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.