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

Choreo LLC lessened its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 23.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,155 shares of the semiconductor company’s stock after selling 8,201 shares during the period. Choreo LLC’s holdings in Microchip Technology were worth $1,555,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Brookstone Capital Management boosted its stake in shares of Microchip Technology by 3.1% in the third quarter. Brookstone Capital Management now owns 7,410 shares of the semiconductor company’s stock valued at $595,000 after buying an additional 224 shares during the period. CWM LLC boosted its stake in shares of Microchip Technology by 1.2% in the third quarter. CWM LLC now owns 32,955 shares of the semiconductor company’s stock valued at $2,646,000 after buying an additional 403 shares during the period. Watts Gwilliam & Co. LLC bought a new stake in shares of Microchip Technology in the third quarter valued at approximately $592,000. First Affirmative Financial Network bought a new stake in shares of Microchip Technology in the third quarter valued at approximately $359,000. Finally, Octavia Wealth Advisors LLC acquired a new position in Microchip Technology during the third quarter valued at approximately $201,000. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Trading Down 2.3 %

NASDAQ:MCHP opened at $51.89 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88. The firm has a market cap of $27.87 billion, a price-to-earnings ratio of 36.29 and a beta of 1.50. Microchip Technology Incorporated has a 52 week low of $50.21 and a 52 week high of $100.57. The firm has a 50-day moving average price of $58.04 and a two-hundred day moving average price of $70.26.

Microchip Technology (NASDAQ:MCHP) last issued 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 return on equity of 19.47% and a net margin of 14.22%. On average, equities analysts expect that Microchip Technology Incorporated will post 1.31 earnings per share for the current fiscal 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 issued a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 3.51%. The ex-dividend date is Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is presently 127.27%.

Wall Street Analyst Weigh In

Several research analysts have commented on MCHP shares. B. Riley restated a “buy” rating and set a $75.00 price objective (down from $85.00) on shares of Microchip Technology in a research report on Friday. Mizuho decreased their price objective on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Morgan Stanley cut their price target on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Raymond James reaffirmed a “strong-buy” rating and set a $60.00 price target (down previously from $95.00) on shares of Microchip Technology in a research report on Friday. Finally, Bank of America cut shares of Microchip Technology from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $80.00 to $65.00 in a research report on Monday, December 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.11.

About Microchip Technology

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.