Manchester Capital Management LLC Has $331,000 Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Manchester Capital Management LLC reduced its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 37.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 5,766 shares of the semiconductor company’s stock after selling 3,491 shares during the quarter. Manchester Capital Management LLC’s holdings in Microchip Technology were worth $331,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MCHP. Creative Planning boosted its stake in Microchip Technology by 0.6% during the third quarter. Creative Planning now owns 116,549 shares of the semiconductor company’s stock worth $9,358,000 after acquiring an additional 719 shares in the last quarter. Swedbank AB raised its holdings in shares of Microchip Technology by 62.3% in the third quarter. Swedbank AB now owns 34,885 shares of the semiconductor company’s stock valued at $2,801,000 after purchasing an additional 13,392 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in Microchip Technology by 24.4% during the third quarter. Vontobel Holding Ltd. now owns 67,532 shares of the semiconductor company’s stock worth $5,422,000 after buying an additional 13,245 shares during the last quarter. nVerses Capital LLC purchased a new stake in Microchip Technology during the third quarter worth about $104,000. Finally, Ellsworth Advisors LLC increased its holdings in Microchip Technology by 2.0% during the third quarter. Ellsworth Advisors LLC now owns 29,573 shares of the semiconductor company’s stock worth $2,374,000 after buying an additional 571 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on MCHP shares. Bank of America lowered shares of Microchip Technology from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $80.00 to $65.00 in a research report on Monday, December 16th. Rosenblatt Securities reissued a “buy” rating and set a $90.00 price target on shares of Microchip Technology in a research note on Thursday, February 6th. Jefferies Financial Group decreased their target price on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Citigroup cut their price target 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. Finally, Raymond James reiterated a “strong-buy” rating and issued a $60.00 price target (down previously from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.11.

Microchip Technology Stock Up 2.8 %

NASDAQ MCHP opened at $55.76 on Friday. The business has a fifty day moving average price of $56.86 and a 200 day moving average price of $69.04. Microchip Technology Incorporated has a one year low of $50.21 and a one year high of $100.57. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88. The company has a market cap of $29.94 billion, a P/E ratio of 99.57 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.41%. Research analysts anticipate that Microchip Technology Incorporated will post 1.3 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is presently 325.00%.

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.