Shaker Investments LLC OH Reduces Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Shaker Investments LLC OH cut its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 21.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,470 shares of the semiconductor company’s stock after selling 5,197 shares during the period. Shaker Investments LLC OH’s holdings in Microchip Technology were worth $1,117,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in MCHP. Pallas Capital Advisors LLC acquired a new position in shares of Microchip Technology in the 4th quarter valued at $5,917,000. Quadrature Capital Ltd purchased a new stake in shares of Microchip Technology in the 3rd quarter valued at approximately $3,312,000. Symphony Financial Ltd. Co. acquired a new position in shares of Microchip Technology in the 4th quarter worth approximately $520,000. Benjamin Edwards Inc. boosted its position in shares of Microchip Technology by 5,185.4% during the 3rd quarter. Benjamin Edwards Inc. now owns 9,408 shares of the semiconductor company’s stock worth $755,000 after purchasing an additional 9,230 shares during the period. Finally, Empowered Funds LLC increased its holdings in Microchip Technology by 25.7% in the 3rd quarter. Empowered Funds LLC now owns 96,163 shares of the semiconductor company’s stock valued at $7,721,000 after purchasing an additional 19,663 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Microchip Technology Stock Performance

Shares of MCHP opened at $52.05 on Tuesday. The company has a market capitalization of $27.95 billion, a PE ratio of 92.95 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 company has a 50-day simple moving average of $57.71 and a 200-day simple moving average of $69.72. 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 (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) 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 12.41%. Equities research analysts predict that Microchip Technology Incorporated will post 1.3 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date is Monday, February 24th. Microchip Technology’s dividend payout ratio is currently 325.00%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Raymond James restated a “strong-buy” rating and set a $60.00 price target (down from $95.00) on shares of Microchip Technology in a research report on Friday. TD Cowen reduced their price target 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. KeyCorp dropped their price objective on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a report on Friday. Citigroup cut their target price on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, Morgan Stanley cut their target price on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Microchip Technology has a consensus rating of “Moderate Buy” and a consensus price target of $77.11.

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.