Gladstone Institutional Advisory LLC Sells 3,973 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Gladstone Institutional Advisory LLC lowered its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 27.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,566 shares of the semiconductor company’s stock after selling 3,973 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Microchip Technology were worth $606,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Pallas Capital Advisors LLC purchased a new position in Microchip Technology during the fourth quarter valued at $5,917,000. Quadrature Capital Ltd purchased a new position in Microchip Technology during the 3rd quarter valued at about $3,312,000. Symphony Financial Ltd. Co. purchased a new position in Microchip Technology during the 4th quarter valued at about $520,000. Benjamin Edwards Inc. boosted its stake in Microchip Technology by 5,185.4% during the third quarter. Benjamin Edwards Inc. now owns 9,408 shares of the semiconductor company’s stock worth $755,000 after acquiring an additional 9,230 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in Microchip Technology by 25.7% in the third quarter. Empowered Funds LLC now owns 96,163 shares of the semiconductor company’s stock worth $7,721,000 after purchasing an additional 19,663 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

MCHP has been the topic of a number of analyst reports. KeyCorp dropped their price target on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Susquehanna dropped their target price on Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, November 6th. Evercore ISI restated an “outperform” rating and set a $95.00 price target (down from $101.00) on shares of Microchip Technology in a report on Wednesday, November 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $90.00 price target on shares of Microchip Technology in a research note on Thursday, February 6th. Finally, Jefferies Financial Group reduced their price objective on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.11.

Microchip Technology Stock Up 2.8 %

MCHP stock opened at $55.76 on Friday. The company has a market cap of $29.94 billion, a price-to-earnings ratio of 99.57 and a beta of 1.50. 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 business’s 50-day moving average is $56.86 and its two-hundred day moving average is $69.04. Microchip Technology Incorporated has a fifty-two week low of $50.21 and a fifty-two week high of $100.57.

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

Microchip Technology Announces Dividend

The firm 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 dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date is Monday, February 24th. Microchip Technology’s payout ratio is 325.00%.

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.