Exencial Wealth Advisors LLC Sells 702 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Exencial Wealth Advisors LLC lessened its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 2.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 29,508 shares of the semiconductor company’s stock after selling 702 shares during the period. Exencial Wealth Advisors LLC’s holdings in Microchip Technology were worth $1,692,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MCHP. Janney Montgomery Scott LLC boosted its stake in Microchip Technology by 1.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 94,647 shares of the semiconductor company’s stock valued at $7,599,000 after purchasing an additional 1,138 shares during the period. Asset Management One Co. Ltd. boosted its stake in Microchip Technology by 2.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 206,360 shares of the semiconductor company’s stock valued at $16,569,000 after purchasing an additional 5,152 shares during the period. Catalyst Capital Advisors LLC boosted its stake in Microchip Technology by 48.5% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 768 shares of the semiconductor company’s stock valued at $62,000 after purchasing an additional 251 shares during the period. Sentry Investment Management LLC bought a new stake in Microchip Technology during the 3rd quarter valued at approximately $208,000. Finally, Fiduciary Family Office LLC boosted its stake in Microchip Technology by 17.9% during the 3rd quarter. Fiduciary Family Office LLC now owns 10,810 shares of the semiconductor company’s stock valued at $868,000 after purchasing an additional 1,641 shares during the period. Institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on MCHP. Morgan Stanley cut their price target on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Raymond James reaffirmed a “strong-buy” rating and issued a $60.00 price target (down previously from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. B. Riley reaffirmed 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, February 7th. Bank of America cut Microchip Technology from a “neutral” rating to an “underperform” rating and cut their price target for the company from $80.00 to $65.00 in a report on Monday, December 16th. Finally, StockNews.com cut Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Microchip Technology has an average rating of “Moderate Buy” and an average target price of $74.37.

Microchip Technology Trading Up 0.3 %

MCHP stock opened at $58.14 on Wednesday. The business has a fifty day moving average price of $56.93 and a 200 day moving average price of $67.04. Microchip Technology Incorporated has a fifty-two week low of $50.21 and a fifty-two week high of $100.57. The stock has a market capitalization of $31.27 billion, a price-to-earnings ratio of 103.82 and a beta of 1.50. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results 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%. Analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal 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 issued a dividend of $0.455 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a yield of 3.13%. Microchip Technology’s dividend payout ratio is 325.00%.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the sale, the chief financial officer now directly owns 33,272 shares of the company’s stock, valued at $2,025,599.36. This trade represents a 10.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.10% of the company’s stock.

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.