Flputnam Investment Management Co. Sells 595 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Flputnam Investment Management Co. reduced its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 11.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 4,653 shares of the semiconductor company’s stock after selling 595 shares during the period. Flputnam Investment Management Co.’s holdings in Microchip Technology were worth $267,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of MCHP. Janney Montgomery Scott LLC increased its holdings in shares of Microchip Technology by 1.2% in the third quarter. Janney Montgomery Scott LLC now owns 94,647 shares of the semiconductor company’s stock valued at $7,599,000 after purchasing an additional 1,138 shares during the last quarter. Confluence Wealth Services Inc. boosted its holdings in shares of Microchip Technology by 4.2% during the 3rd quarter. Confluence Wealth Services Inc. now owns 11,216 shares of the semiconductor company’s stock worth $901,000 after buying an additional 450 shares during the period. Intact Investment Management Inc. grew its stake in Microchip Technology by 27.5% in the 3rd quarter. Intact Investment Management Inc. now owns 76,900 shares of the semiconductor company’s stock valued at $6,174,000 after buying an additional 16,600 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in Microchip Technology by 2.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 206,360 shares of the semiconductor company’s stock valued at $16,569,000 after acquiring an additional 5,152 shares during the period. Finally, Catalyst Capital Advisors LLC raised its holdings in Microchip Technology by 48.5% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 768 shares of the semiconductor company’s stock valued at $62,000 after acquiring an additional 251 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Transactions at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the sale, the chief financial officer now owns 33,272 shares of the company’s stock, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

MCHP has been the subject of several recent research reports. Bank of America downgraded Microchip Technology from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $80.00 to $65.00 in a research note on Monday, December 16th. 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 research report on Friday, February 7th. KeyCorp lowered their price target on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Rosenblatt Securities reissued a “buy” rating and issued a $90.00 price objective on shares of Microchip Technology in a report on Thursday, February 6th. Finally, TD Cowen lowered their target price on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.11.

Microchip Technology Stock Down 1.5 %

Shares of NASDAQ MCHP opened at $57.95 on Tuesday. The stock has a market capitalization of $31.17 billion, a P/E ratio of 103.48 and a beta of 1.50. Microchip Technology Incorporated has a one year low of $50.21 and a one year high of $100.57. The firm’s 50 day simple moving average is $56.94 and its two-hundred day simple moving average is $67.20. 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 (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 net margin of 6.49% and a return on equity of 12.62%. As a group, analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.14%. Microchip Technology’s dividend payout ratio is currently 325.00%.

Microchip Technology Company 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.