Curi RMB Capital LLC Cuts Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Curi RMB Capital LLC decreased its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 1.4% during the 3rd quarter, Holdings Channel reports. The fund owned 128,504 shares of the semiconductor company’s stock after selling 1,865 shares during the quarter. Curi RMB Capital LLC’s holdings in Microchip Technology were worth $10,318,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Microchip Technology by 2.9% in the first quarter. Vanguard Group Inc. now owns 68,583,723 shares of the semiconductor company’s stock valued at $6,152,646,000 after purchasing an additional 1,921,497 shares in the last quarter. Principal Financial Group Inc. raised its stake in Microchip Technology by 0.4% during the 2nd quarter. Principal Financial Group Inc. now owns 9,246,403 shares of the semiconductor company’s stock worth $846,046,000 after acquiring an additional 33,603 shares in the last quarter. Van ECK Associates Corp boosted its stake in Microchip Technology by 25.1% in the third quarter. Van ECK Associates Corp now owns 7,961,200 shares of the semiconductor company’s stock valued at $599,239,000 after acquiring an additional 1,597,263 shares in the last quarter. Boston Partners grew its holdings in shares of Microchip Technology by 10.7% during the first quarter. Boston Partners now owns 7,591,471 shares of the semiconductor company’s stock worth $681,838,000 after purchasing an additional 736,818 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Microchip Technology by 17.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,527,709 shares of the semiconductor company’s stock worth $406,182,000 after purchasing an additional 673,992 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MCHP shares. Rosenblatt Securities reissued a “buy” rating and issued a $90.00 target price on shares of Microchip Technology in a research report on Wednesday, November 6th. Jefferies Financial Group decreased their price objective on Microchip Technology from $100.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Citigroup cut their target price on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Susquehanna decreased their price target on shares of Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a research note on Wednesday, November 6th. Finally, Evercore ISI reiterated an “outperform” rating and set a $95.00 target price (down previously from $101.00) on shares of Microchip Technology in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Microchip Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.00.

Insider Buying and Selling at Microchip Technology

In related news, CFO James Eric Bjornholt sold 2,154 shares of Microchip Technology stock in a transaction 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 sale, the chief financial officer now owns 33,257 shares of the company’s stock, valued at $2,710,445.50. The trade was a 6.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.10% of the stock is currently owned by corporate insiders.

Microchip Technology Stock Down 1.5 %

MCHP stock opened at $65.60 on Friday. Microchip Technology Incorporated has a one year low of $65.48 and a one year high of $100.57. The stock has a market capitalization of $35.23 billion, a P/E ratio of 45.87 and a beta of 1.53. The company has a 50 day moving average price of $76.10 and a two-hundred day moving average price of $84.46. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the business posted $1.54 EPS. The company’s quarterly revenue was down 48.4% compared to the same quarter last year. As a group, sell-side analysts expect that Microchip Technology Incorporated will post 1.38 EPS for the current year.

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a $0.455 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Friday, November 22nd. Microchip Technology’s dividend payout ratio is currently 127.27%.

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.