Soltis Investment Advisors LLC Sells 264 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Soltis Investment Advisors LLC reduced its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,247 shares of the semiconductor company’s stock after selling 264 shares during the period. Soltis Investment Advisors LLC’s holdings in Microchip Technology were worth $1,391,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brookstone Capital Management increased its position in shares of Microchip Technology by 3.1% during the third quarter. Brookstone Capital Management now owns 7,410 shares of the semiconductor company’s stock worth $595,000 after acquiring an additional 224 shares in the last quarter. CWM LLC increased its position in shares of Microchip Technology by 1.2% during the third quarter. CWM LLC now owns 32,955 shares of the semiconductor company’s stock worth $2,646,000 after acquiring an additional 403 shares in the last quarter. Webster Bank N. A. increased its position in shares of Microchip Technology by 38.2% during the third quarter. Webster Bank N. A. now owns 1,346 shares of the semiconductor company’s stock worth $108,000 after acquiring an additional 372 shares in the last quarter. Procyon Advisors LLC increased its position in shares of Microchip Technology by 1.8% during the third quarter. Procyon Advisors LLC now owns 15,547 shares of the semiconductor company’s stock worth $1,248,000 after acquiring an additional 278 shares in the last quarter. Finally, M. Kraus & Co increased its position in shares of Microchip Technology by 0.5% during the third quarter. M. Kraus & Co now owns 100,380 shares of the semiconductor company’s stock worth $8,060,000 after acquiring an additional 452 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. KeyCorp decreased their target price on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday. Morgan Stanley decreased their target price on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Raymond James restated a “strong-buy” rating and set a $60.00 price target (down from $95.00) on shares of Microchip Technology in a report on Friday. Needham & Company LLC cut their price target on shares of Microchip Technology from $85.00 to $60.00 and set a “buy” rating on the stock in a report on Friday. Finally, B. Riley restated a “buy” rating and set a $75.00 price target (down from $85.00) on shares of Microchip Technology in a report on Friday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $77.11.

Microchip Technology Stock Up 0.3 %

MCHP opened at $52.05 on Tuesday. The stock has a market cap of $27.95 billion, a price-to-earnings ratio of 92.95 and a beta of 1.50. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The company’s 50-day moving average price is $57.71 and its two-hundred day moving average price is $69.72. Microchip Technology Incorporated has a twelve month low of $50.21 and a twelve month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS 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 12.41%. As a group, equities analysts expect that Microchip Technology Incorporated will post 1.3 earnings per share for the current year.

Microchip Technology Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Monday, February 24th. Microchip Technology’s payout ratio is currently 325.00%.

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.