Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 732 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 27.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,910 shares of the semiconductor company’s stock after selling 732 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Microchip Technology were worth $109,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of MCHP. Prospera Private Wealth LLC purchased a new stake in Microchip Technology during the third quarter worth $29,000. Financial Life Planners bought a new position in shares of Microchip Technology in the 4th quarter worth $32,000. Peterson Financial Group Inc. purchased a new stake in shares of Microchip Technology during the 3rd quarter worth $34,000. Truvestments Capital LLC bought a new stake in Microchip Technology during the third quarter valued at about $34,000. Finally, Wolff Wiese Magana LLC grew its stake in Microchip Technology by 55.2% in the third quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 218 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Trading Down 2.3 %

NASDAQ MCHP opened at $51.89 on Monday. Microchip Technology Incorporated has a 1 year low of $50.21 and a 1 year high of $100.57. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. The company has a market capitalization of $27.87 billion, a PE ratio of 92.66 and a beta of 1.50. The company has a fifty day moving average of $57.71 and a 200 day moving average of $69.84.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data 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 6.49% and a return on equity of 12.41%. Research analysts forecast that Microchip Technology Incorporated will post 1.3 earnings per share for the current year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be paid a dividend of $0.455 per share. The ex-dividend date is Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.51%. Microchip Technology’s payout ratio is 325.00%.

Wall Street Analyst Weigh In

Several analysts have commented on MCHP shares. Piper Sandler reissued an “overweight” rating and set a $65.00 price target (down from $85.00) on shares of Microchip Technology in a research report on Friday. Needham & Company LLC decreased their target price on shares of Microchip Technology from $85.00 to $60.00 and set a “buy” rating for the company in a research report on Friday. Morgan Stanley cut their price target on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. TD Cowen reduced their price target on Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. Finally, Mizuho lowered their price objective on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Microchip Technology currently 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.