Microchip Technology Incorporated (NASDAQ:MCHP) Holdings Decreased by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC lowered its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 11.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,006 shares of the semiconductor company’s stock after selling 1,856 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Microchip Technology were worth $803,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Prospera Private Wealth LLC purchased a new position in Microchip Technology in the third quarter valued at about $29,000. Financial Life Planners purchased a new position in Microchip Technology in the fourth quarter valued at about $32,000. Peterson Financial Group Inc. purchased a new position in Microchip Technology in the third quarter valued at about $34,000. Truvestments Capital LLC purchased a new position in Microchip Technology in the third quarter valued at about $34,000. Finally, Hobbs Group Advisors LLC grew its stake in Microchip Technology by 390.6% in the third quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Trading Down 0.7 %

Shares of Microchip Technology stock opened at $59.77 on Thursday. The business has a fifty day simple moving average of $56.85 and a two-hundred day simple moving average of $67.72. Microchip Technology Incorporated has a 1 year low of $50.21 and a 1 year high of $100.57. The company has a market capitalization of $32.15 billion, a price-to-earnings ratio of 106.73 and a beta of 1.50. 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 posted 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%. Research analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Monday, February 24th will be given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 3.05%. The ex-dividend date is Monday, February 24th. Microchip Technology’s payout ratio is 325.00%.

Analysts Set New Price Targets

A number of research analysts have commented on MCHP shares. B. Riley restated a “buy” rating and issued a $75.00 target price (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Bank of America cut Microchip Technology from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $80.00 to $65.00 in a research report on Monday, December 16th. Stifel Nicolaus reduced 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. Jefferies Financial Group reduced their price target on Microchip Technology from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, TD Cowen reduced their price target on Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.11.

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.