Mather Group LLC. Sells 1,854 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Mather Group LLC. lowered its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 22.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,260 shares of the semiconductor company’s stock after selling 1,854 shares during the quarter. Mather Group LLC.’s holdings in Microchip Technology were worth $359,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in MCHP. Assenagon Asset Management S.A. lifted its position in shares of Microchip Technology by 9,901.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company’s stock worth $163,886,000 after buying an additional 2,829,082 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of 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 purchasing an additional 1,597,263 shares in the last quarter. Franklin Resources Inc. increased its position in Microchip Technology by 30.2% in the third quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company’s stock worth $264,430,000 after purchasing an additional 776,408 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Microchip Technology by 20.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,751,987 shares of the semiconductor company’s stock valued at $220,957,000 after purchasing an additional 460,697 shares in the last quarter. Finally, DF Dent & Co. Inc. bought a new position in Microchip Technology during the third quarter valued at $27,744,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Stock Performance

Shares of NASDAQ:MCHP opened at $53.11 on Friday. The firm has a 50 day moving average of $58.34 and a 200 day moving average of $70.38. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $28.52 billion, a price-to-earnings ratio of 37.14 and a beta of 1.50. Microchip Technology Incorporated has a 52 week low of $51.37 and a 52 week high of $100.57.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. On average, sell-side analysts predict that Microchip Technology Incorporated will post 1.31 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The company 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. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.43%. Microchip Technology’s payout ratio is currently 127.27%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group reduced their target price on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Stifel Nicolaus dropped their target price on Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, December 3rd. Mizuho cut their target price on Microchip Technology from $85.00 to $72.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Evercore ISI reissued an “outperform” rating and set a $95.00 price target (down from $101.00) on shares of Microchip Technology in a research note on Wednesday, November 6th. Finally, KeyCorp cut their price objective on Microchip Technology from $90.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $81.67.

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.