Values First Advisors Inc. Lowers Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Values First Advisors Inc. trimmed its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,697 shares of the semiconductor company’s stock after selling 791 shares during the period. Values First Advisors Inc.’s holdings in Microchip Technology were worth $1,130,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. MeadowBrook Investment Advisors LLC boosted its holdings in Microchip Technology by 15.3% during the fourth quarter. MeadowBrook Investment Advisors LLC now owns 11,235 shares of the semiconductor company’s stock worth $644,000 after buying an additional 1,493 shares in the last quarter. TCV Trust & Wealth Management Inc. lifted its position in shares of Microchip Technology by 1.6% during the 4th quarter. TCV Trust & Wealth Management Inc. now owns 225,717 shares of the semiconductor company’s stock valued at $12,945,000 after acquiring an additional 3,557 shares during the period. Portfolio Design Labs LLC purchased a new stake in shares of Microchip Technology during the 4th quarter worth approximately $201,000. Essex Financial Services Inc. grew its holdings in shares of Microchip Technology by 19.9% in the 4th quarter. Essex Financial Services Inc. now owns 4,891 shares of the semiconductor company’s stock worth $280,000 after acquiring an additional 813 shares during the period. Finally, Four Tree Island Advisory LLC purchased a new position in Microchip Technology in the 4th quarter valued at approximately $385,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on MCHP. Raymond James reissued a “strong-buy” rating and issued a $60.00 target price (down previously from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. The Goldman Sachs Group cut their price objective on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Piper Sandler restated an “overweight” rating and set a $65.00 target price (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Stifel Nicolaus cut their price target on Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Finally, Bank of America cut Microchip Technology from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $80.00 to $65.00 in a report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, four have assigned 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 a consensus rating of “Moderate Buy” and a consensus price target of $77.11.

Microchip Technology Trading Up 1.0 %

Shares of MCHP stock opened at $52.58 on Wednesday. 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 fifty-two week low of $50.21 and a fifty-two week high of $100.57. The firm’s 50 day moving average price is $57.09 and its two-hundred day moving average price is $69.25. The stock has a market cap of $28.24 billion, a price-to-earnings ratio of 93.89 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.41%. On average, analysts anticipate that Microchip Technology Incorporated will post 1.3 EPS for the current year.

Microchip Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be paid a $0.455 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.46%. Microchip Technology’s dividend payout ratio (DPR) is currently 325.00%.

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.