Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC reduced its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 91.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,950 shares of the semiconductor company’s stock after selling 281,334 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Microchip Technology were worth $1,546,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Prospera Private Wealth LLC purchased a new stake in Microchip Technology during the 3rd quarter valued at approximately $29,000. Peterson Financial Group Inc. acquired a new position in shares of Microchip Technology in the third quarter valued at approximately $34,000. Truvestments Capital LLC purchased a new stake in shares of Microchip Technology during the third quarter worth approximately $34,000. Mainstream Capital Management LLC purchased a new position in Microchip Technology in the 4th quarter valued at $26,000. Finally, OFI Invest Asset Management acquired a new position in Microchip Technology in the 4th quarter valued at $29,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Microchip Technology Trading Up 3.1 %

Microchip Technology stock opened at $53.50 on Friday. The stock has a 50-day moving average price of $56.51 and a 200 day moving average price of $65.68. Microchip Technology Incorporated has a 52 week low of $50.21 and a 52 week high of $100.57. The stock has a market cap of $28.77 billion, a PE ratio of 95.54 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 (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 net margin of 6.49% and a return on equity of 12.62%. Equities research analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is 325.00%.

Insider Activity

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value 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. The trade was a 10.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MCHP shares. TD Cowen raised their target price on shares of Microchip Technology from $50.00 to $60.00 and gave the stock a “hold” rating in a research note on Tuesday, March 4th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Microchip Technology in a report on Tuesday, March 4th. Mizuho raised their price target on Microchip Technology from $58.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. Stifel Nicolaus dropped their price objective on Microchip Technology from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. Finally, StockNews.com downgraded Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 10th. Two equities research 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $74.37.

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.