Tiemann Investment Advisors LLC Sells 367 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Tiemann Investment Advisors LLC trimmed its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,578 shares of the semiconductor company’s stock after selling 367 shares during the period. Tiemann Investment Advisors LLC’s holdings in Microchip Technology were worth $1,008,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of MCHP. Metis Global Partners LLC raised its position in Microchip Technology by 1.0% during the third quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company’s stock worth $1,378,000 after acquiring an additional 172 shares in the last quarter. Plato Investment Management Ltd increased its stake in shares of Microchip Technology by 5.8% during the 3rd quarter. Plato Investment Management Ltd now owns 3,499 shares of the semiconductor company’s stock worth $281,000 after purchasing an additional 191 shares during the last quarter. Summit Global Investments raised its holdings in shares of Microchip Technology by 2.5% in the 3rd quarter. Summit Global Investments now owns 8,463 shares of the semiconductor company’s stock valued at $679,000 after purchasing an additional 207 shares during the period. Apollon Wealth Management LLC lifted its stake in Microchip Technology by 0.8% in the 3rd quarter. Apollon Wealth Management LLC now owns 26,475 shares of the semiconductor company’s stock valued at $2,126,000 after purchasing an additional 218 shares during the last quarter. Finally, Empower Advisory Group LLC grew its holdings in Microchip Technology by 7.3% during the third quarter. Empower Advisory Group LLC now owns 3,470 shares of the semiconductor company’s stock worth $279,000 after purchasing an additional 237 shares during the period. Institutional investors own 91.51% of the company’s stock.

Insiders Place Their Bets

In related news, CFO James Eric Bjornholt sold 3,724 shares of the firm’s 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 sale, the chief financial officer now owns 33,272 shares of the company’s stock, valued at $2,025,599.36. This trade represents a 10.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MCHP. KeyCorp dropped their price objective on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a research note on Friday, February 7th. Raymond James restated a “strong-buy” rating and issued a $60.00 price target (down previously from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. 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 report on Tuesday, December 3rd. Needham & Company LLC raised their target price on shares of Microchip Technology from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Finally, TD Cowen lifted their target price on shares of Microchip Technology from $50.00 to $60.00 and gave the stock a “hold” rating in a report on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Microchip Technology currently has a consensus rating of “Moderate Buy” and an average target price of $74.37.

Microchip Technology Stock Performance

Shares of Microchip Technology stock opened at $59.77 on Monday. The company has a 50 day moving average of $56.98 and a 200-day moving average of $66.56. The company has a market cap of $32.15 billion, a PE ratio of 106.73 and a beta of 1.52. 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 1-year low of $50.21 and a 1-year high of $100.57.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. As a group, equities research analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were given a $0.455 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a yield of 3.05%. Microchip Technology’s dividend payout ratio is currently 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.