Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC lessened its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 73,075 shares of the semiconductor company’s stock after selling 959 shares during the quarter. Yousif Capital Management LLC’s holdings in Microchip Technology were worth $4,191,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Corundum Group Inc. raised its position in Microchip Technology by 3.4% in the 3rd quarter. Corundum Group Inc. now owns 4,315 shares of the semiconductor company’s stock valued at $346,000 after purchasing an additional 143 shares during the last quarter. Financial Advocates Investment Management lifted its position in Microchip Technology by 1.5% during the 3rd quarter. Financial Advocates Investment Management now owns 10,795 shares of the semiconductor company’s stock worth $867,000 after acquiring an additional 158 shares during the period. Metis Global Partners LLC grew its stake in shares of Microchip Technology by 1.0% in the 3rd quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company’s stock valued at $1,378,000 after purchasing an additional 172 shares during the last quarter. Americana Partners LLC increased its holdings in shares of Microchip Technology by 5.5% in the third quarter. Americana Partners LLC now owns 3,441 shares of the semiconductor company’s stock valued at $276,000 after purchasing an additional 179 shares during the period. Finally, Plato Investment Management Ltd raised its stake in shares of Microchip Technology by 5.8% during the third quarter. Plato Investment Management Ltd now owns 3,499 shares of the semiconductor company’s stock worth $281,000 after purchasing an additional 191 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MCHP has been the topic of a number of analyst reports. Jefferies Financial Group lowered their price objective on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Raymond James reaffirmed a “strong-buy” rating and issued a $60.00 target price (down previously from $95.00) on shares of Microchip Technology in a report on Friday. Mizuho cut their price target on shares of Microchip Technology from $85.00 to $72.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Microchip Technology in a report on Thursday. Finally, KeyCorp cut their target price on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $77.11.

Microchip Technology Trading Down 2.3 %

Shares of Microchip Technology stock opened at $51.89 on Friday. Microchip Technology Incorporated has a 1 year low of $50.21 and a 1 year high of $100.57. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.48. The business has a 50 day moving average price of $58.04 and a 200 day moving average price of $70.26. The company has a market capitalization of $27.87 billion, a P/E ratio of 36.29 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. Sell-side analysts anticipate that Microchip Technology Incorporated will post 1.31 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 3.51%. The ex-dividend date is Monday, February 24th. Microchip Technology’s payout ratio is 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.