Choreo LLC Sells 8,201 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Choreo LLC trimmed its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 23.2% in the 4th quarter, Holdings Channel reports. The firm owned 27,155 shares of the semiconductor company’s stock after selling 8,201 shares during the quarter. Choreo LLC’s holdings in Microchip Technology were worth $1,555,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Brookstone Capital Management lifted its holdings in shares of Microchip Technology by 3.1% during the 3rd quarter. Brookstone Capital Management now owns 7,410 shares of the semiconductor company’s stock worth $595,000 after acquiring an additional 224 shares during the last quarter. CWM LLC lifted its holdings in shares of Microchip Technology by 1.2% during the 3rd quarter. CWM LLC now owns 32,955 shares of the semiconductor company’s stock worth $2,646,000 after acquiring an additional 403 shares during the last quarter. Watts Gwilliam & Co. LLC bought a new stake in shares of Microchip Technology during the 3rd quarter worth $592,000. First Affirmative Financial Network bought a new stake in shares of Microchip Technology during the 3rd quarter worth $359,000. Finally, Octavia Wealth Advisors LLC bought a new stake in shares of Microchip Technology during the 3rd quarter worth $201,000. 91.51% of the stock is owned by institutional investors.

Microchip Technology Price Performance

Shares of NASDAQ MCHP opened at $51.89 on Friday. Microchip Technology Incorporated has a 1 year low of $50.21 and a 1 year high of $100.57. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. The company’s 50-day moving average is $58.04 and its 200 day moving average is $70.26. The stock has a market capitalization of $27.87 billion, a P/E ratio of 36.29 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. On average, sell-side analysts expect that Microchip Technology Incorporated will post 1.31 earnings per share for the current year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors 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 yield of 3.51%. The ex-dividend date is Monday, February 24th. Microchip Technology’s payout ratio is currently 127.27%.

Analyst Ratings Changes

MCHP has been the subject of a number of research analyst reports. Bank of America downgraded shares of Microchip Technology from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $80.00 to $65.00 in a report on Monday, December 16th. Mizuho decreased their target price on shares of Microchip Technology from $85.00 to $72.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Susquehanna decreased their target price on shares of Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a research report on Wednesday, November 6th. Piper Sandler reiterated an “overweight” rating and issued a $65.00 target price (down previously from $85.00) on shares of Microchip Technology in a research report on Friday. Finally, B. Riley reiterated a “buy” rating and issued a $75.00 target price (down previously from $85.00) on shares of Microchip Technology in a research report on Friday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average 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.