Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Bruce G. Allen Investments LLC

Bruce G. Allen Investments LLC reduced its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 54.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 714 shares of the semiconductor company’s stock after selling 864 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in Microchip Technology were worth $41,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Franklin Street Advisors Inc. NC lifted its stake in Microchip Technology by 70.9% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 7,192 shares of the semiconductor company’s stock valued at $412,000 after acquiring an additional 2,983 shares during the period. Ridgewood Investments LLC boosted its holdings in Microchip Technology by 238.4% in the fourth quarter. Ridgewood Investments LLC now owns 19,086 shares of the semiconductor company’s stock valued at $1,095,000 after purchasing an additional 13,446 shares during the last quarter. ST Germain D J Co. Inc. acquired a new stake in Microchip Technology during the 4th quarter worth about $97,000. Watts Gwilliam & Co. LLC raised its stake in shares of Microchip Technology by 250.5% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 26,861 shares of the semiconductor company’s stock valued at $1,544,000 after buying an additional 19,198 shares during the last quarter. Finally, First Hawaiian Bank raised its stake in shares of Microchip Technology by 2.4% during the 4th quarter. First Hawaiian Bank now owns 33,053 shares of the semiconductor company’s stock valued at $1,896,000 after buying an additional 780 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Stock Down 2.1 %

Shares of MCHP stock traded down $1.20 during trading on Friday, reaching $55.18. The company’s stock had a trading volume of 5,096,234 shares, compared to its average volume of 7,274,127. The company has a market capitalization of $29.63 billion, a price-to-earnings ratio of 38.59 and a beta of 1.52. Microchip Technology Incorporated has a 1-year low of $54.47 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 stock’s 50-day moving average price is $63.23 and its 200 day moving average price is $75.24.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the firm earned $1.54 earnings per share. The company’s revenue for the quarter was down 48.4% compared to the same quarter last year. On average, research analysts anticipate that Microchip Technology Incorporated will post 1.33 EPS for the current year.

Microchip Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.30%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date was Friday, November 22nd. Microchip Technology’s dividend payout ratio is presently 127.27%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. StockNews.com upgraded Microchip Technology from a “sell” rating to a “hold” rating in a research report on Friday, December 13th. TD Cowen dropped their price target on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. Needham & Company LLC reissued a “buy” rating and set a $85.00 target price on shares of Microchip Technology in a research note on Tuesday, December 3rd. Susquehanna dropped their price objective on Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, November 6th. Finally, Rosenblatt Securities restated a “buy” rating and set a $90.00 price target on shares of Microchip Technology in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Microchip Technology currently has a consensus rating of “Moderate Buy” and an average target price of $87.11.

Microchip Technology 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.