Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by TFG Advisers LLC

TFG Advisers LLC trimmed its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 8.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,444 shares of the semiconductor company’s stock after selling 2,087 shares during the period. TFG Advisers LLC’s holdings in Microchip Technology were worth $1,287,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MCHP. Vest Financial LLC grew its stake in shares of Microchip Technology by 68.3% in the fourth quarter. Vest Financial LLC now owns 12,081 shares of the semiconductor company’s stock worth $693,000 after purchasing an additional 4,903 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Microchip Technology by 13.2% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 66,680 shares of the semiconductor company’s stock worth $3,824,000 after purchasing an additional 7,780 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in Microchip Technology by 1.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,144,811 shares of the semiconductor company’s stock valued at $123,005,000 after buying an additional 25,451 shares in the last quarter. Buck Wealth Strategies LLC increased its stake in Microchip Technology by 78.2% during the 4th quarter. Buck Wealth Strategies LLC now owns 117,245 shares of the semiconductor company’s stock valued at $6,724,000 after buying an additional 51,448 shares during the period. Finally, Financial Advocates Investment Management raised its position in shares of Microchip Technology by 9.4% during the 4th quarter. Financial Advocates Investment Management now owns 11,807 shares of the semiconductor company’s stock worth $677,000 after buying an additional 1,012 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Trading Down 2.3 %

Shares of NASDAQ MCHP opened at $51.89 on Friday. The firm has a market capitalization of $27.87 billion, a PE ratio of 92.66 and a beta of 1.50. Microchip Technology Incorporated has a one year low of $50.21 and a one year 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. The business has a 50-day moving average price of $58.04 and a two-hundred day moving average price of $70.26.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate 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, analysts predict that Microchip Technology Incorporated will post 1.3 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders 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 dividend on an annualized basis and a yield of 3.51%. Microchip Technology’s dividend payout ratio (DPR) is currently 325.00%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MCHP. The Goldman Sachs Group lowered their price objective on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Raymond James reiterated a “strong-buy” rating and set a $60.00 price target (down from $95.00) on shares of Microchip Technology in a research report on Friday. TD Cowen cut their price objective on Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Evercore ISI reaffirmed an “outperform” rating and set a $95.00 target price (down from $101.00) on shares of Microchip Technology in a report on Wednesday, November 6th. Finally, Jefferies Financial Group cut their price target on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. One equities 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 company. According to MarketBeat.com, the company presently has an average 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.