Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Lowers Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 27.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,910 shares of the semiconductor company’s stock after selling 732 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Microchip Technology were worth $109,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Stephens Investment Management Group LLC raised its stake in Microchip Technology by 31.5% during the 4th quarter. Stephens Investment Management Group LLC now owns 685,455 shares of the semiconductor company’s stock valued at $39,311,000 after purchasing an additional 164,254 shares during the period. Thompson Investment Management Inc. boosted its stake in Microchip Technology by 3,762.1% in the 4th quarter. Thompson Investment Management Inc. now owns 82,841 shares of the semiconductor company’s stock worth $4,751,000 after purchasing an additional 80,696 shares during the period. Vest Financial LLC grew its holdings in Microchip Technology by 68.3% during the 4th quarter. Vest Financial LLC now owns 12,081 shares of the semiconductor company’s stock valued at $693,000 after buying an additional 4,903 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Microchip Technology by 13.2% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 66,680 shares of the semiconductor company’s stock valued at $3,824,000 after buying an additional 7,780 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Microchip Technology by 1.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,144,811 shares of the semiconductor company’s stock worth $123,005,000 after buying an additional 25,451 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. StockNews.com upgraded shares of Microchip Technology from a “sell” rating to a “hold” rating in a report on Friday, December 13th. Raymond James reaffirmed a “strong-buy” rating and issued a $60.00 target price (down from $95.00) on shares of Microchip Technology in a report on Friday. TD Cowen dropped their price target on Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Susquehanna reduced their price objective on Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, November 6th. Finally, Piper Sandler reiterated an “overweight” rating and set a $65.00 target price (down from $85.00) on shares of Microchip Technology in a research report on Friday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $77.11.

Microchip Technology Trading Down 2.3 %

Shares of NASDAQ MCHP opened at $51.89 on Monday. Microchip Technology Incorporated has a fifty-two week low of $50.21 and a fifty-two week high of $100.57. 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 company has a market cap of $27.87 billion, a price-to-earnings ratio of 92.66 and a beta of 1.50. The business’s 50 day moving average price is $57.71 and its 200-day moving average price is $69.84.

Microchip Technology (NASDAQ:MCHP) last released its 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 return on equity of 12.41% and a net margin of 6.49%. On average, sell-side analysts expect that Microchip Technology Incorporated will post 1.3 earnings per share for the current year.

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Monday, February 24th will be given a $0.455 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.51%. Microchip Technology’s dividend payout ratio (DPR) is 325.00%.

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.