MassMutual Private Wealth & Trust FSB Lowers Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

MassMutual Private Wealth & Trust FSB lessened its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 2.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 112,016 shares of the semiconductor company’s stock after selling 3,212 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Microchip Technology were worth $6,424,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ellsworth Advisors LLC raised its stake in Microchip Technology by 4.4% during the 4th quarter. Ellsworth Advisors LLC now owns 30,878 shares of the semiconductor company’s stock valued at $1,771,000 after purchasing an additional 1,305 shares during the period. Clarius Group LLC boosted its stake in Microchip Technology by 11.5% in the 4th quarter. Clarius Group LLC now owns 4,298 shares of the semiconductor company’s stock worth $246,000 after purchasing an additional 442 shares during the period. Premier Path Wealth Partners LLC grew its holdings in Microchip Technology by 683.0% during the 4th quarter. Premier Path Wealth Partners LLC now owns 23,554 shares of the semiconductor company’s stock valued at $1,351,000 after buying an additional 20,546 shares in the last quarter. Sanibel Captiva Trust Company Inc. raised its position in shares of Microchip Technology by 16.0% during the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 5,311 shares of the semiconductor company’s stock valued at $305,000 after buying an additional 732 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC purchased a new position in shares of Microchip Technology in the fourth quarter worth $312,000. 91.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Bank of America cut shares of Microchip Technology from a “neutral” rating to an “underperform” rating and cut their target price for the company from $80.00 to $65.00 in a research note on Monday, December 16th. Stifel Nicolaus cut their price objective on Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, December 3rd. Mizuho reduced their target price on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. KeyCorp dropped their price target on Microchip Technology from $90.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Finally, Citigroup reduced their price objective on Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.00.

Microchip Technology Stock Up 3.2 %

Shares of MCHP opened at $57.97 on Monday. 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 has a fifty day moving average of $61.11 and a 200 day moving average of $73.57. The company has a market cap of $31.13 billion, a PE ratio of 40.54 and a beta of 1.52. Microchip Technology Incorporated has a 52-week low of $54.47 and a 52-week high of $100.57.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The business’s revenue was down 48.4% on a year-over-year basis. During the same quarter last year, the business earned $1.54 EPS. On average, sell-side analysts expect that Microchip Technology Incorporated will post 1.32 EPS for the current year.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend was Friday, November 22nd. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s payout ratio is 127.27%.

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.