Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC lowered its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 62.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,972 shares of the semiconductor company’s stock after selling 4,977 shares during the quarter. Farther Finance Advisors LLC’s holdings in Microchip Technology were worth $170,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its position in Microchip Technology by 39.3% during the 4th quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company’s stock valued at $636,184,000 after purchasing an additional 3,131,807 shares during the period. Franklin Resources Inc. raised its stake in Microchip Technology by 30.2% during the 3rd quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company’s stock valued at $264,430,000 after acquiring an additional 776,408 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Microchip Technology by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,143,769 shares of the semiconductor company’s stock valued at $180,295,000 after acquiring an additional 116,823 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Microchip Technology by 9,901.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock valued at $163,886,000 after acquiring an additional 2,829,082 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in Microchip Technology by 20.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,751,987 shares of the semiconductor company’s stock valued at $220,957,000 after acquiring an additional 460,697 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $54.57 on Thursday. Microchip Technology Incorporated has a 1-year low of $50.21 and a 1-year high of $100.57. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $29.35 billion, a price-to-earnings ratio of 97.45 and a beta of 1.52. The stock’s fifty day simple moving average is $56.35 and its 200-day simple moving average is $65.13.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results 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%. On average, sell-side analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

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

Insider Activity

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the business’s stock in a transaction dated 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 owns 33,272 shares in the company, valued at $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have weighed in on MCHP shares. Needham & Company LLC lifted their target price on Microchip Technology from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $70.00 target price on shares of Microchip Technology in a research note on Tuesday, March 4th. B. Riley reissued a “buy” rating and issued a $75.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. TD Cowen boosted their price objective on Microchip Technology from $50.00 to $60.00 and gave the stock a “hold” rating in a research note on Tuesday, March 4th. Finally, Stifel Nicolaus dropped their price objective on Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $74.37.

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.