VisionPoint Advisory Group LLC Cuts Position in Microchip Technology Incorporated (NASDAQ:MCHP)

VisionPoint Advisory Group LLC lowered its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 41.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,385 shares of the semiconductor company’s stock after selling 969 shares during the period. VisionPoint Advisory Group LLC’s holdings in Microchip Technology were worth $79,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp lifted its position in shares of 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 buying an additional 3,131,807 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Microchip Technology by 9,901.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock worth $163,886,000 after acquiring an additional 2,829,082 shares during the period. Franklin Resources Inc. lifted its holdings in Microchip Technology by 30.2% during the third quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company’s stock valued at $264,430,000 after purchasing an additional 776,408 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Microchip Technology by 20.1% in the third 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 purchasing an additional 460,697 shares during the period. Finally, DF Dent & Co. Inc. purchased a new stake in shares of Microchip Technology during the third quarter worth about $27,744,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Evercore ISI reaffirmed an “outperform” rating and issued a $95.00 price target (down from $101.00) on shares of Microchip Technology in a research note on Wednesday, November 6th. Citigroup decreased their target price on Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Rosenblatt Securities reiterated a “buy” rating and set a $90.00 price target on shares of Microchip Technology in a research report on Thursday, February 6th. Raymond James restated a “strong-buy” rating and issued a $60.00 price objective (down previously from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. Finally, Morgan Stanley dropped their target price on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Two 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 MarketBeat, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average price target of $77.11.

Microchip Technology Stock Down 5.0 %

MCHP stock opened at $61.07 on Friday. Microchip Technology Incorporated has a one year low of $50.21 and a one year high of $100.57. The firm has a market cap of $32.84 billion, a PE ratio of 109.05 and a beta of 1.50. The firm’s 50 day moving average price is $56.68 and its 200-day moving average price is $68.16. 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 (NASDAQ:MCHP) last posted its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS 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, equities research analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is presently 325.00%.

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.