Fidelis Capital Partners LLC Decreases Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Fidelis Capital Partners LLC reduced its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 6.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,301 shares of the semiconductor company’s stock after selling 337 shares during the period. Fidelis Capital Partners LLC’s holdings in Microchip Technology were worth $399,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Counselors Inc. boosted its position in Microchip Technology by 1.1% in the 1st quarter. Financial Counselors Inc. now owns 10,689 shares of the semiconductor company’s stock valued at $959,000 after buying an additional 119 shares during the last quarter. SeaCrest Wealth Management LLC lifted its position in shares of Microchip Technology by 3.3% during the second quarter. SeaCrest Wealth Management LLC now owns 4,147 shares of the semiconductor company’s stock worth $379,000 after purchasing an additional 131 shares during the last quarter. Corundum Group Inc. lifted its position in shares of Microchip Technology by 3.4% during the third quarter. Corundum Group Inc. now owns 4,315 shares of the semiconductor company’s stock worth $346,000 after purchasing an additional 143 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in shares of Microchip Technology by 4.5% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 3,470 shares of the semiconductor company’s stock worth $318,000 after purchasing an additional 148 shares during the last quarter. Finally, Busey Bank lifted its position in shares of Microchip Technology by 2.6% during the second quarter. Busey Bank now owns 6,006 shares of the semiconductor company’s stock worth $550,000 after purchasing an additional 155 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Mizuho set a $95.00 price target on shares of Microchip Technology in a research report on Friday, October 18th. StockNews.com upgraded shares of Microchip Technology from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Needham & Company LLC dropped their price objective on shares of Microchip Technology from $100.00 to $96.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Susquehanna dropped their price objective on shares of Microchip Technology from $105.00 to $95.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Finally, Morgan Stanley lowered shares of Microchip Technology from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $102.00 to $100.00 in a research note on Thursday, July 11th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average price target of $97.89.

Insider Activity

In related news, CFO James Eric Bjornholt sold 2,154 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $81.50, for a total transaction of $175,551.00. Following the completion of the sale, the chief financial officer now directly owns 33,257 shares in the company, valued at approximately $2,710,445.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.10% of the company’s stock.

Microchip Technology Trading Down 4.4 %

Microchip Technology stock opened at $75.58 on Thursday. The firm has a 50 day simple moving average of $77.67 and a 200-day simple moving average of $85.48. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.94 and a quick ratio of 1.08. The stock has a market capitalization of $40.55 billion, a PE ratio of 30.23 and a beta of 1.52. Microchip Technology Incorporated has a 12-month low of $68.75 and a 12-month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.01. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Microchip Technology had a net margin of 20.80% and a return on equity of 28.33%. The business’s revenue was down 45.8% on a year-over-year basis. During the same period last year, the firm posted $1.56 earnings per share. As a group, equities research analysts expect that Microchip Technology Incorporated will post 1.73 EPS for the current fiscal year.

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.