Microchip Technology Incorporated (NASDAQ:MCHP) Stake Lowered by Hosking Partners LLP

Hosking Partners LLP trimmed its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 13.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,259 shares of the semiconductor company’s stock after selling 12,586 shares during the period. Hosking Partners LLP’s holdings in Microchip Technology were worth $4,546,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of MCHP. Prospera Private Wealth LLC acquired a new stake in shares of Microchip Technology during the 3rd quarter valued at about $29,000. Financial Life Planners acquired a new stake in Microchip Technology in the fourth quarter valued at approximately $32,000. Peterson Financial Group Inc. bought a new stake in Microchip Technology in the third quarter worth approximately $34,000. Truvestments Capital LLC bought a new position in shares of Microchip Technology during the 3rd quarter valued at $34,000. Finally, Hobbs Group Advisors LLC lifted its stake in shares of Microchip Technology by 390.6% in the 3rd quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the transaction, the chief financial officer now directly owns 33,272 shares of the company’s stock, valued at approximately $2,025,599.36. This trade represents a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MCHP shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $90.00 price target on shares of Microchip Technology in a research report on Thursday, February 6th. Needham & Company LLC reduced their target price on Microchip Technology from $85.00 to $60.00 and set a “buy” rating for the company in a report on Friday, February 7th. Bank of America downgraded Microchip Technology from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $80.00 to $65.00 in a report on Monday, December 16th. Stifel Nicolaus reduced their price objective on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, December 3rd. Finally, Evercore ISI reiterated an “outperform” rating and issued a $95.00 target price (down from $101.00) on shares of Microchip Technology in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $77.11.

Microchip Technology Price Performance

Shares of MCHP stock opened at $57.12 on Friday. The company has a market capitalization of $30.72 billion, a P/E ratio of 102.00 and a beta of 1.50. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. Microchip Technology Incorporated has a 12 month low of $50.21 and a 12 month high of $100.57. The stock has a 50 day moving average of $56.87 and a two-hundred day moving average of $67.64.

Microchip Technology (NASDAQ:MCHP) last announced 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 6.49% and a return on equity of 12.62%. As a group, equities analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Monday, February 24th will be paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Monday, February 24th. Microchip Technology’s dividend payout ratio is 325.00%.

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.