Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Lindbrook Capital LLC

Lindbrook Capital LLC lowered its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 63.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 546 shares of the semiconductor company’s stock after selling 930 shares during the quarter. Lindbrook Capital LLC’s holdings in Microchip Technology were worth $31,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Promus Capital LLC acquired a new stake in Microchip Technology during the 4th quarter worth about $130,000. Proficio Capital Partners LLC acquired a new stake in Microchip Technology during the 4th quarter worth about $3,818,000. Mainstream Capital Management LLC acquired a new stake in Microchip Technology during the 4th quarter worth about $26,000. Alley Investment Management Company LLC lifted its position in Microchip Technology by 7.2% during the 4th quarter. Alley Investment Management Company LLC now owns 185,306 shares of the semiconductor company’s stock worth $10,627,000 after acquiring an additional 12,398 shares during the period. Finally, Ariston Services Group lifted its position in Microchip Technology by 25.1% during the 4th quarter. Ariston Services Group now owns 4,708 shares of the semiconductor company’s stock worth $270,000 after acquiring an additional 944 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Price Performance

Shares of Microchip Technology stock opened at $59.77 on Friday. The business has a 50 day simple moving average of $56.98 and a two-hundred day simple moving average of $66.68. Microchip Technology Incorporated has a 12 month low of $50.21 and a 12 month high of $100.57. The stock has a market capitalization of $32.15 billion, a P/E ratio of 106.73 and a beta of 1.52. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23.

Microchip Technology (NASDAQ:MCHP) last announced 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%. As a group, analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders 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 3.05%. Microchip Technology’s payout ratio is currently 325.00%.

Analyst Ratings Changes

A number of analysts have commented on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $70.00 price target on shares of Microchip Technology in a research report on Tuesday, March 4th. Evercore ISI lifted their price objective on Microchip Technology from $65.00 to $71.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Raymond James reiterated a “strong-buy” rating and set a $60.00 price objective (down previously from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. KeyCorp reduced their price objective on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. Finally, Bank of America lowered Microchip Technology from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $80.00 to $65.00 in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Microchip Technology currently has a consensus rating of “Moderate Buy” and an average target price of $74.37.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction that occurred 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 owns 33,272 shares of the company’s stock, valued at $2,025,599.36. This 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 is available through this hyperlink. Insiders own 2.10% of the company’s stock.

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.