Pinnacle Wealth Management Advisory Group LLC Sells 2,357 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Pinnacle Wealth Management Advisory Group LLC lowered its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 31.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,158 shares of the semiconductor company’s stock after selling 2,357 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Microchip Technology were worth $296,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MCHP. Corundum Group Inc. lifted its position in Microchip Technology by 3.4% during the third quarter. Corundum Group Inc. now owns 4,315 shares of the semiconductor company’s stock valued at $346,000 after purchasing an additional 143 shares during the period. Financial Advocates Investment Management lifted its holdings in shares of Microchip Technology by 1.5% during the 3rd quarter. Financial Advocates Investment Management now owns 10,795 shares of the semiconductor company’s stock valued at $867,000 after buying an additional 158 shares during the period. Metis Global Partners LLC boosted its stake in shares of Microchip Technology by 1.0% in the 3rd quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company’s stock worth $1,378,000 after buying an additional 172 shares during the last quarter. Americana Partners LLC grew its holdings in shares of Microchip Technology by 5.5% in the third quarter. Americana Partners LLC now owns 3,441 shares of the semiconductor company’s stock worth $276,000 after acquiring an additional 179 shares during the period. Finally, Plato Investment Management Ltd increased its position in Microchip Technology by 5.8% during the third quarter. Plato Investment Management Ltd now owns 3,499 shares of the semiconductor company’s stock valued at $281,000 after acquiring an additional 191 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Susquehanna dropped their target price on Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a research report on Wednesday, November 6th. Bank of America downgraded shares of Microchip Technology from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $80.00 to $65.00 in a report on Monday, December 16th. Stifel Nicolaus reduced their target price on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Evercore ISI reiterated an “outperform” rating and set a $95.00 price target (down previously from $101.00) on shares of Microchip Technology in a research note on Wednesday, November 6th. Finally, StockNews.com downgraded shares of Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.11.

Microchip Technology Stock Performance

Shares of NASDAQ MCHP opened at $55.76 on Monday. The company has a market cap of $29.99 billion, a P/E ratio of 99.57 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 debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88. The firm’s fifty day moving average is $56.79 and its two-hundred day moving average is $68.69.

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

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is presently 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.