Paradigm Asset Management Co. LLC Sells 14,200 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Paradigm Asset Management Co. LLC reduced its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 83.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,900 shares of the semiconductor company’s stock after selling 14,200 shares during the quarter. Paradigm Asset Management Co. LLC’s holdings in Microchip Technology were worth $166,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MCHP. Prospera Private Wealth LLC acquired a new stake in Microchip Technology during the third quarter worth about $29,000. Peterson Financial Group Inc. bought a new stake in shares of Microchip Technology during the 3rd quarter worth approximately $34,000. Truvestments Capital LLC bought a new stake in shares of Microchip Technology during the 3rd quarter worth approximately $34,000. Financial Life Planners acquired a new stake in shares of Microchip Technology during the 4th quarter worth approximately $32,000. Finally, Hobbs Group Advisors LLC increased its stake in Microchip Technology by 390.6% in the third quarter. Hobbs Group Advisors LLC now owns 628 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 500 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Raymond James restated a “strong-buy” rating and set a $60.00 target price (down from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. StockNews.com downgraded Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Mizuho decreased their target price on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Evercore ISI reissued an “outperform” rating and issued a $95.00 target price (down previously from $101.00) on shares of Microchip Technology in a report on Wednesday, November 6th. Finally, B. Riley reaffirmed a “buy” rating and set a $75.00 price target (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $77.11.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $61.07 on Friday. The stock has a market capitalization of $32.84 billion, a PE ratio of 109.05 and a beta of 1.50. The business’s 50 day simple moving average is $56.68 and its 200 day simple moving average is $68.16. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. Microchip Technology Incorporated has a one year low of $50.21 and a one year high of $100.57.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 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 12.62%. As a group, research analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Monday, February 24th will be issued a dividend of $0.455 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a yield of 2.98%. Microchip Technology’s payout ratio is currently 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.