Wilmington Savings Fund Society FSB Decreases Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Wilmington Savings Fund Society FSB cut its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 9.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,903 shares of the semiconductor company’s stock after selling 5,491 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Microchip Technology were worth $3,149,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its position in Microchip Technology by 9,901.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock worth $163,886,000 after acquiring an additional 2,829,082 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Microchip Technology by 25.1% during the third quarter. Van ECK Associates Corp now owns 7,961,200 shares of the semiconductor company’s stock worth $599,239,000 after purchasing an additional 1,597,263 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Microchip Technology by 30.2% during the third quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company’s stock worth $264,430,000 after purchasing an additional 776,408 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Microchip Technology by 20.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,751,987 shares of the semiconductor company’s stock valued at $220,957,000 after purchasing an additional 460,697 shares during the period. Finally, DF Dent & Co. Inc. acquired a new stake in Microchip Technology during the 3rd quarter valued at $27,744,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Price Performance

Shares of MCHP opened at $51.89 on Friday. Microchip Technology Incorporated has a 12 month low of $50.21 and a 12 month 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 stock has a fifty day moving average price of $57.71 and a 200 day moving average price of $69.98. The company has a market cap of $27.87 billion, a P/E ratio of 92.66 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.41% and a net margin of 6.49%. On average, research analysts forecast that Microchip Technology Incorporated will post 1.3 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. Stockholders of record on Monday, February 24th will be given a dividend of $0.455 per share. The ex-dividend date is Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 3.51%. Microchip Technology’s dividend payout ratio is presently 325.00%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Morgan Stanley decreased their price objective 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. B. Riley reissued a “buy” rating and issued a $75.00 price target (down previously from $85.00) on shares of Microchip Technology in a report on Friday. The Goldman Sachs Group dropped their price objective on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. KeyCorp reduced their target price on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Evercore ISI restated an “outperform” rating and issued a $95.00 price target (down previously from $101.00) on shares of Microchip Technology in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.