Soltis Investment Advisors LLC cut its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP – Free Report) by 1.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,247 shares of the semiconductor company’s stock after selling 264 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Microchip Technology were worth $1,391,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the business. Brookstone Capital Management increased its stake in 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 acquiring an additional 224 shares during the last quarter. CWM LLC increased its stake in 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 acquiring an additional 403 shares during the last quarter. Webster Bank N. A. increased its stake in Microchip Technology by 38.2% in the third quarter. Webster Bank N. A. now owns 1,346 shares of the semiconductor company’s stock valued at $108,000 after acquiring an additional 372 shares during the last quarter. Procyon Advisors LLC increased its stake in Microchip Technology by 1.8% in the third quarter. Procyon Advisors LLC now owns 15,547 shares of the semiconductor company’s stock valued at $1,248,000 after acquiring an additional 278 shares during the last quarter. Finally, M. Kraus & Co increased its stake in Microchip Technology by 0.5% in the third quarter. M. Kraus & Co now owns 100,380 shares of the semiconductor company’s stock valued at $8,060,000 after acquiring an additional 452 shares during the last quarter. 91.51% of the stock is owned by institutional investors.
Microchip Technology Price Performance
MCHP stock opened at $52.05 on Tuesday. The firm 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. Microchip Technology Incorporated has a 12-month low of $50.21 and a 12-month high of $100.57. The company’s fifty day simple moving average is $57.71 and its 200 day simple moving average is $69.72.
Microchip Technology Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Monday, February 24th will be paid a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 3.50%. The ex-dividend date is Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is currently 325.00%.
Analyst Ratings Changes
A number of analysts have weighed in on the stock. B. Riley restated 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. Evercore ISI restated an “outperform” rating and issued a $95.00 target price (down previously from $101.00) on shares of Microchip Technology in a research report on Wednesday, November 6th. StockNews.com lowered shares of Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday. Raymond James restated a “strong-buy” rating and issued a $60.00 target price (down previously from $95.00) on shares of Microchip Technology in a research report on Friday. Finally, TD Cowen cut their target price on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.11.
Check Out Our Latest Research Report on Microchip Technology
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.
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