Parkside Financial Bank & Trust Lowers Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Parkside Financial Bank & Trust trimmed its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 5.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,178 shares of the semiconductor company’s stock after selling 230 shares during the period. Parkside Financial Bank & Trust’s holdings in Microchip Technology were worth $240,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Prospera Private Wealth LLC purchased a new position in Microchip Technology during the 3rd quarter valued at about $29,000. Peterson Financial Group Inc. acquired a new stake in Microchip Technology in the 3rd quarter valued at about $34,000. Truvestments Capital LLC acquired a new stake in Microchip Technology in the 3rd quarter valued at about $34,000. Financial Life Planners acquired a new stake in Microchip Technology in the 4th quarter valued at about $32,000. Finally, Hobbs Group Advisors LLC raised its position in Microchip Technology by 390.6% in the 3rd 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. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of the company’s 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 sale, the chief financial officer now owns 33,272 shares in the company, valued at $2,025,599.36. This represents a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.10% of the company’s stock.

Microchip Technology Price Performance

Shares of MCHP opened at $58.86 on Friday. 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 Incorporated has a fifty-two week low of $50.21 and a fifty-two week high of $100.57. The firm has a 50-day simple moving average of $56.94 and a 200-day simple moving average of $67.44. The company has a market capitalization of $31.66 billion, a price-to-earnings ratio of 105.11 and a beta of 1.50.

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 analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. On average, equities research analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders 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 dividend yield of 3.09%. The ex-dividend date is Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is presently 325.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. StockNews.com lowered Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Stifel Nicolaus reduced their price target on Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, December 3rd. TD Cowen reduced their price target on Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. The Goldman Sachs Group reduced their price target on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Finally, Susquehanna cut their target price on Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.