Yousif Capital Management LLC Trims Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Yousif Capital Management LLC trimmed its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 73,075 shares of the semiconductor company’s stock after selling 959 shares during the period. Yousif Capital Management LLC’s holdings in Microchip Technology were worth $4,191,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MCHP. Prospera Private Wealth LLC acquired a new stake in shares of Microchip Technology in the third quarter worth approximately $29,000. Financial Life Planners purchased a new position in Microchip Technology during the fourth quarter worth approximately $32,000. Peterson Financial Group Inc. acquired a new position in shares of Microchip Technology in the 3rd quarter valued at $34,000. Truvestments Capital LLC purchased a new stake in shares of Microchip Technology during the 3rd quarter valued at $34,000. Finally, Wolff Wiese Magana LLC increased its holdings in shares of Microchip Technology by 55.2% during the 3rd quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock worth $49,000 after buying an additional 218 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MCHP shares. Susquehanna reduced their target price on Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, November 6th. StockNews.com raised shares of Microchip Technology from a “sell” rating to a “hold” rating in a research report on Friday, December 13th. Stifel Nicolaus cut their price target on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. Piper Sandler reiterated an “overweight” rating and set a $65.00 price objective (down from $85.00) on shares of Microchip Technology in a research note on Friday. Finally, Needham & Company LLC cut their target price 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. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.11.

Microchip Technology Stock Performance

Shares of MCHP opened at $51.89 on Friday. The firm has a market cap of $27.87 billion, a price-to-earnings ratio of 36.29 and a beta of 1.50. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The business’s 50 day moving average is $58.04 and its two-hundred day moving average is $70.26. 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. Analysts forecast that Microchip Technology Incorporated will post 1.31 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently declared 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 3.51%. Microchip Technology’s dividend payout ratio (DPR) is 127.27%.

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.