Microchip Technology Incorporated (NASDAQ:MCHP) Shares Purchased by Sandy Spring Bank

Sandy Spring Bank increased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 117,002 shares of the semiconductor company’s stock after acquiring an additional 1,643 shares during the period. Sandy Spring Bank’s holdings in Microchip Technology were worth $6,710,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Mainstream Capital Management LLC acquired a new position in shares of Microchip Technology in the 4th quarter valued at $26,000. Rakuten Securities Inc. boosted its position in shares of Microchip Technology by 309.5% in the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 359 shares during the period. Prospera Private Wealth LLC acquired a new position in shares of Microchip Technology in the 3rd quarter valued at $29,000. OFI Invest Asset Management acquired a new position in shares of Microchip Technology in the 4th quarter valued at $29,000. Finally, Financial Life Planners acquired a new position in shares of Microchip Technology in the 4th quarter valued at $32,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Stock Up 0.7 %

Shares of MCHP stock opened at $54.57 on Thursday. The stock’s 50 day simple moving average is $56.35 and its 200 day simple moving average is $65.13. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. Microchip Technology Incorporated has a twelve month low of $50.21 and a twelve month high of $100.57. The company has a market capitalization of $29.35 billion, a price-to-earnings ratio of 97.45 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates 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, research analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date was Monday, February 24th. Microchip Technology’s payout ratio is 325.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MCHP shares. Stifel Nicolaus decreased their price target 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. The Goldman Sachs Group decreased their price objective on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Evercore ISI raised their price objective on Microchip Technology from $65.00 to $71.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Raymond James restated a “strong-buy” rating and set a $60.00 price objective (down from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. Finally, StockNews.com lowered Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus price target of $74.37.

Insider Activity at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the transaction, the chief financial officer now directly owns 33,272 shares of the company’s stock, valued at $2,025,599.36. The trade was a 10.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.10% of the stock is owned by company insiders.

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.